Richard Holden, Member of Parliament for North West Durham, was named today by the Chancellor of the Exchequer, Rishi Sunak, in his Autumn Budget and Spending Review. Rishi Sunak credited Richard Holden for the announced 5% cut in draught beer duty. This cut comes after Richard Holden lead 107 Conservative MPs in calling on the Treasury to lower duty on draught beer sold in pubs.
Other key announcements to help level up the North East include £310 million to transform local transport networks in the Tees Valley, £100 million through the Levelling Up Fund for five projects, and eight new community diagnostic centres to improve health outcomes.
People and businesses in the North East will also benefit from a reduction in the Universal Credit taper rate, an increase in the National Living Wage to £9.50 an hour, a freeze in fuel and alcohol duty, as well as cuts to business rates, new tax reliefs, and record spending on infrastructure and R&D.
Measures that will benefit the North East include £310 million over the next five years to transform local transport networks in the Tees Valley for schemes such as upgrading Middlesbrough and Darlington stations and improving local rail links.
This is in addition to £210 million funding for new Nexus trains, up to £50,000 to develop an early-stage proposal to reinstate passenger rail links between Darlington and Weardale, and a share of £24 billion for strategic road upgrades, including the A66 Northern Trans-Pennine – helping to bolster transport connectivity across the region.
The North East will also benefit from a share of the £2.6 billion UK Shared Prosperity Fund – focused on helping people into jobs and supporting businesses across the UK – £560 million funding for the Youth Investment Fund and National Citizen Service, and £5 billion for Project Gigabit, rolling out gigabit capable broadband for homes and businesses across the UK.
Other nationwide measures that will benefit people in the North East include a significant tax cut for low-income families by reducing the Universal Credit taper rate from 63 per cent to 55 per cent, a 6.6 per cent increase in the National Living Wage to £9.50 an hour – giving a £1,000 pay rise to 2 million of the lowest paid – increasing pay for public sector workers, and freezes in fuel and alcohol duty.
Commenting, Richard Holden MP said:
“Despite the unprecedented challenges caused by the pandemic, this Conservative Government is getting on with the job and delivering on the priorities of the British people. This Budget will make a real difference to people in the North East, helping working families with the cost of living, improving transport connections, regenerating communities and improving health outcomes.
For too long our pubs and clubs have felt like they’re playing with one arm tied behind their back. Today’s announcement of a 5% cut in draught beer duty from the Chancellor marks really positive move for our pubs and clubs and in favour of British agriculture, our environment, local jobs and responsible drinking.
Our pubs and clubs are at the heart of our communities and today’s move shows that this Conservative Government is on their side – and I couldn’t be more delighted for my campaign and my 106 Conservative colleagues who have supported me.”
Commenting, Chancellor of the Exchequer Rishi Sunak said:
“One year ago, this country was in the grip of the biggest recession in 300 years. Thanks to our Plan For Jobs, we are today recovering faster than our major competitors, more people are in work, and growth is up. But uncertainty in the global economy means that recovery is now under threat.
“That is why this Budget and Spending Review delivers a stronger economy for people in the North East – strengthening our public finances, helping working families meet the cost of living, supporting businesses, delivering stronger public services, and driving economic growth.
“This is a Budget which will level up the North East. It is a Budget which provides the foundations for a stronger economy.”