Clwyd West MP, David Jones, has welcomed the 2015 Budget, which was introduced by the Chancellor of the Exchequer, George Osborne, on 18 March 2015.
In presenting the Budget to the House of Commons, the Chancellor noted that the burden of the national debt is now falling, that the fiscal deficit has been halved, and that employment is at record levels.
In addition to setting out the broad economic position, the Chancellor introduced a series of measures intended to reduce the tax burden and to reward savers. The personal income tax allowance was raised, the duty on beer, cider and whisky was cut, and fuel duty was frozen. In addition, a tax-free personal savings allowance was introduced, along with measures to assist those who have purchased pension annuities, complementing earlier measures to provide pension savers with additional freedom and choice.
David Jones said:
“The past few years have been difficult indeed. However, the country is beginning to experience the rewards of the efforts and sacrifices that have been made during that time. The economy is growing, government debt as a proportion of GDP is falling, and an additional 1.9 million people are in work.
“The Government’s economic record stands in marked contrast to that of the last Labour government, which presided over the worst recession and financial crisis in living memory. However, it is quite clear that the Labour Party has refused to learn the appropriate lessons, choosing instead to deny any responsibility for the economic damage that was inflicted upon the country and the population during their time in office.
“The 2015 Budget, which is the last one of the current Parliament, is a tribute to the Government’s economic policies, and above all, to the patience and endeavour of the British people.”