THE Chancellor’s budget “offers nothing” for families and pensioners in Bath and North East Somerset, a local MP has declared.

Jeremy Hunt has outlined a number of key points to MPs in what’s expected to be the last budget before the next election.

Mr Hunt announced National insurance contributions for employees will be cut from 10 per cent to 8 per cent from April, impacting about 27 million workers, with savings of up to £450 a year. The stamp duty relief for people who purchase more than one dwelling in a single transaction, known as Multiple Dwellings Relief, will be scrapped and repayment periods for people on low incomes who take out new budgeting advance loans will increase from 12 to 24 months.

Changes to the High Income Child Benefit Charge have also been announced, which hits payments if one parent earns above £50,000 a year. This will move to a household-based system and the threshold will rise to £60,000 from April.

There will also be no change to fuel duty, with the 5p cut announced in March 2022 remaining in place, and the alcohol duty freeze has been extended until February 2025.

A new British ISA will allow a £5,000 annual investment into in UK businesses. It includes all the tax advantages of other ISAs and will be on top of the existing allowances.

Bath MP Wera Hobhouse has said that local residents will see through the Chancellor’s attempt to deceive the public, adding that people don’t want more “empty promises” from this Conservative government. 

Mrs Hobhouse said: “This Budget offers nothing for families and pensioners who are facing spiralling mortgages and food shopping bills because of this Conservative government’s mismanagement. 

"People in Bath know their tax bills will remain sky-high after years of unfair hikes while our health services are left to crumble.

"Voters are fed up with empty promises from this Conservative government. We need a general election so that we can finally kick this out-of-touch government out of office.”

Following the Budget announcement on March 6, Metro Mayor for the South West, Dan Norris said: “Hard-pressed North East Somerset residents and businesses are still struggling with seventy-year high levels of tax under the Conservatives, despite today’s desperate attempts from the Chancellor to pretend otherwise.

“Instead of short-term election bribes designed to save Conservative seats, our region needs the long-term stability, investment and reform that Labour is offering.”