Question
To ask the Chancellor of the Exchequer, whether he has made an impact assessment of the potential effect of measures included in the Spring Statement 2022 on the West Midlands.
Answered on
19 April 2022
The Chancellor’s Spring Statement on 23 March 2022 announced a number of measures to support households and businesses in every region and nation of the UK and to relieve the immediate pressure on our cost of living. This includes cutting National Insurance by aligning the Primary Threshold and Lower Profits Limit with the income tax personal allowance from July 2022 – a tax cut worth over £6 billion – and cutting the duty rate on petrol and diesel by 5p per litre for a year, saving the average UK car driver around £100.
It sets out that taxes are being cut, debt is falling and public spending is increasing, for the benefit of every region and nation in the UK.