Cities of London & Westminster MP, Nickie Aiken, welcomed the Spring Budget, a budget for growth.
Commenting on what this means for local people across the Two Cities, Nickie explained,
"I was in the Chamber in the House of Commons this afternoon to listen to the Chancellor of the Exchequer make his financial statement and his Budget. It was a clear budget for growth, with plans to increase investment in this country, grow jobs, protect public services, and cut taxes.
"For the Two Cities, in particular, I certainly welcome the abolition he announced of the furnished holiday lettings regime. This is a tightening up of a tax loophole that landlords who rent their homes via Airbnb-type platforms can no longer take advantage of. Really, really important for the Two Cities and I have been lobbying the Chancellor on this.
"Also the £1 billion tax relief for the creative industries is really, really important.
"There were further measures for the City of London building on The Edinburgh Reforms.
"And the most important thing for everybody I think was the further cut in National Insurance contributions by 2%. He announced in November a 2% cut and a further 2% starting in April. So we will have gone from 12% to 8% in a couple of months. Really important that hardworking people keep as much money of their own as they possibly can.
"He also made a really, really important point about productivity in public services. I know having been a councillor, how important it is to ensure that we have the best public services in the country. And it is about reform, it is about productivity. And I really welcome what the Chancellor outlined in the Budget."
For more information and details about what the Chancellor outlined in his Budget, please visit here.
