MY WEEK IN WESTMINSTER

THIS week the big focus in Parliament was obviously the Chancellor’s latest budget.

The chamber was, as it always is on such days, packed as George Osborne stood to set out the country’s spending for the coming year.

As a constituency where local businesses are key to Fylde’s success, I was pleased to see the Chancellor cut the UK’s corporate tax rate to 20 per cent by 2015, from its current 24 per cent, making it the lowest business tax of any major economy in the world.

Employers were also rewarded with a cut of up to £2,000 from National Insurance contributions which should help the private sector to expand and offer more jobs for the people in my constituency.

For the workers themselves, I’m sure they will have been delighted with the announcement there would be no income tax on the first £10,000 of people’s salary from 2014.

Private sector jobs were something I was very focussed on when I successfully campaigned for a new Enterprise Zone for Warton.

The introduction of these areas was a fantastic idea and they can really give a major boost to employment opportunities as they are set up to provide an incubator in which companies can thrive and grow.

Businesses moving onto one of these sites can benefit from tax breaks, capital allowances for further investment, lease payment holidays and development funding.

They can also look forward to infrastructure benefits like superfast broadband and easy access to motorways and rail links.

The Warton Enterprise Zone is based close to BAE Systems where we already have some of the world’s best engineers in the aerospace industry.

With that in mind, the zone will be focussed on advanced manufacturing and engineering and I understand companies are already looking at the benefits they could receive by moving into Warton.

BAE Systems has long been one of the Fylde’s biggest and most respected employers and if we have even more companies of that sort of calibre in the constituency then I believe we will only go from strength to strength.

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