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  • Gareth Bacon

My statement on the Chancellor's plan for economic growth

We need a thriving and growing economy to pay for excellent public services and build a more prosperous nation, improving people’s livelihoods and creating better-paid jobs.

I welcome the Chancellor’s bold plan to grow our economy by making our country more competitive with lower taxes and scrapping barriers to new national infrastructure.

Orpington will benefit from these measures as the government cuts national insurance and income tax to enable you to keep more of your hard-earned money. Stamp duty will also be permanently cut to create a nation of homeowners and help first-time buyers.

People and our economy will be shielded from the gas crisis, with the Energy Price Guarantee cutting people’s bills by £1,400. Through the Energy Bill Relief Scheme, businesses, charities and public services will only pay a discounted energy price, shielding them from the crisis.

Finally, the planned increase to corporation tax will be scrapped to encourage business and put £70 billion back into the economy. This will benefit businesses in Orpington, big and small, helping to win the UK more investment and grow our economy.

We cannot carry on as normal with ever higher taxes and lower economic growth. This approach will unleash our country’s economic potential and deliver for you.