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Osborne’s Budget welcomed by East Midlands MEPs

Thursday, 24th March 2011

George Osborne’s Budget, which was announced yesterday in the House of Commons, has been welcomed by East Midlands Conservative MEP Roger Helmer and Emma McClarkin MEP. Families across the region will already benefit from the immediate cut in fuel duty by 1p per litre and the subsequent delay of April's inflation rise in duty to next January. This means fuel duty is 6 pence lower than it would be under Labour.

First time home buyers will also be relieved to hear that help is at hand with £250 million being committed to helping 10,000 families on to the property ladder. As well as families in the East Midlands local entrepreneurs and business owners will benefit from deregulation proposals and an additional 1p cut in corporation tax. In April this year corporation tax will fall from 28% to 26%. It will continue to fall by 1% in each of the following three years reaching 23%. This will help the Britain become competitive again.

Commenting from Brussels Mr Helmer said:

“Given the tight fiscal constraints the economy is facing, this budget announcement is good news for families across the East Midlands and good for growth with the extension of small business rate relief holiday for another year and the review of the revenue raised by the temporary 50p rate of income tax amongst many others. George Osborne has done a good professional job in a difficult set of circumstances.”