Julie Marson, MP for Hertford and Stortford, has today welcomed the Chancellor’s 2024 Spring Budget, noting the particular impact it will have on workers and businesses in her Hertford and Stortford constituency.
Among the measures was another 2p reduction in National Insurance. Coupled with the first 2p reduction that came into effect at the start of the year, a worker on the median salary of £35,000 will be about £900 better off.
Those who use their cars to get around were greeted with yet another fuel duty freeze from the Treasury. Fuel duty has been frozen for 14 years in a row, saving local motorists filling up a 55-litre tank £16.50 each time they visit the pump.
Support for local businesses was also present, with an increase in the VAT registration threshold and, for pubs, an extension of the alcohol duty freeze.
There was good news for parents too. Plans to end unfairness in the Child Benefit system will be introduced by April 2026, assessing the High Income Child Benefit Charge based on household income rather than individual earnings. The Chancellor also increased the threshold at which parents start paying the High Income Child Benefit Charge, from £50,000 to £60,000.
Reacting to the Budget, Mrs Marson said:
“The second successive reduction in National Insurance will let people keep more of the money they work hard for. Personal tax levels have not been this low since 1975.
“Times have been tough lately, but being able to cut personal cuts shows that the plan is working and must be stuck to.
“Overall, this is a budget for hardworking families. National insurance down, fuel duty frozen, an extra £2.45 billion for the NHS, a new British ISA and so much more. These are great policies and Hertford and Stortford residents will feel their positive effects.”