Whilst I recognise that the Growth Package had some excellent policies. I have consistently said there were issues about timing and some policies I could not support.
On Tuesday I set out the idea that the decrease in Corporate Tax rates could be delayed and spread over several years to help support the public finances.
Most companies are more worried about borrowing costs and many SMEs won’t pay the increased rate.
I believe going ahead with the planned rise alongside some other measures would reassure people and the markets that the Govt has fiscal responsibility as well as growth at the heart of its economic package.
This reassurance should mean that rates do not need to rise as much as feared, protecting many from further increased mortgage rates and borrowing costs.
I believe I must act in the best interests of my constituents and I believe this measure will help them.