The 2024 Budget announced a raft of measures to help you keep more of the money that you earn. From April this year, 27 million workers will see their taxes cut from 10% to 8%, combined with the cut at the 2023 Autumn Statement this is a real terms tax cut of over £900 for the average worker earning £35,400. If you are self-employed, you will also benefit with the Treasury reducing the main rate of Class 4 NICs from 8% to 6%.

In a move which I know has been welcomed by parents across Watford, the High-Income Child Benefit Charge is to move to a household-based system by 2026. In the meantime the threshold will rise to £60,000. Close to half a million families will gain an average of £1,260 in child benefit in 2024-25 as a result.

In further welcome news, the household support fund is being extended for another six months to help the most vulnerable households, the alcohol duty freeze has been extended giving a boost to our pubs, and the fuel duty cut also remains in place, a positive boost for drivers everywhere. The state pension, as previously announced, will go up by 8.5% in April. At the same time the National Living Wage will rise from £10.42 an hour to £11.44.

Inflation is down, debt is falling and spending is under control. The Government’s approach to our economy means that we are now turning a corner. With gas and electricity prices set to fall in April, we are on the right track.

Since being elected I have worked tirelessly to deliver for Watford and ensure we are top of the list for the funding that we need including £5 million to tackle rough sleeping, the new police station, securing full funding for our new hospital and £16 million for levelling up. I make no apologies for championing Watford at every opportunity.

  • Dean Russell is Conservative MP for Watford