The Chancellor’s 2021 Budget Statement has been welcomed by local MP Steve Double as one that delivers for Cornwall as well look to recover from the COVID-19 pandemic.
Highlights include:
- The extension of the Furlough scheme until September
- A further extension of the Self Employed Income Support Scheme with 600,000 people who became self-employed last year
- Restart grants to help businesses reopen
- An extension of the reduced rate of 5% VAT for tourism and hospitality businesses for six months
- The 100% business rates holiday extended to June for eligible businesses
- A Super Deduction to encourage investment in businesses
- The introduction of Government-backed 95% mortgages for first time buyers
- The extension of the Stamp Duty holiday for three months
- The scrapping of planned increases in fuel and alcohol duty
Commenting, Steve said:
“This is a Budget that delivers for Cornwall. The extension to the furlough and self-employment-income support schemes are welcome, along with particularly the raft of measures designed to further help our hospitality and tourism industries, which I have long-campaigned for, as we look to ease lockdown measures and re-open for what I hope will be a busy summer season.”
“Consumers will also join me in welcoming the continued freezes of fuel and alcohol duty, along with new incentives to help people buy their first homes, with government-back mortgages, and the extension of the Stamp Duty Holiday will help those who have been able to buy homes during the pandemic complete their purchases as planned.”
“There is much more to do, but I am proud to be part of this Conservative Government that is doing all it can to help Cornwall and our country recover and build back better.”