Response to Government’s fiscal measures
Families and businesses across Essex are set to benefit from a substantial package of tax cuts announced by the Chancellor of the Exchequer in his mini budget. The cuts to taxes include a reduction in the rate of income tax from April 2023, cuts to Stamp Duty, maintaining the Corporation Tax rate at 19p and reductions in National Insurance contributions for employers and employees.
These announcements on cutting the tax burden follow measures introduced to cap energy costs to support and protect families and businesses from the rising bills caused by Putin’s war on Ukraine. Witham MP Priti Patel said:
“This week’s announcements will mean hardworking families and businesses will be paying less in tax and keeping more of what they earn. Alongside the support and help with energy bills, these measures from the Government will be widely welcomed in this part of Essex and across the country.”