Responding to today’s Budget from the Chancellor of the Exchequer, Member of Parliament for Portsmouth South, Stephen Morgan MP, said:
“Today’s Budget demonstrates that this Labour government is building a stronger and more secure economy.
We are beating the forecasts with growth this year upgraded and wages are up more in the first year of this Government than the first decade under the Conservatives. But there is much more to do.
That’s why this Budget goes further, strengthening the economy by rejecting austerity or more borrowing.
Instead it is making fair and necessary choices on the issues of concern for Portsmouth people – cutting the cost of living by with at least £150 off average energy bills, cutting NHS waiting lists and cutting government borrowing every year so interest rates, cut 5 times since the election, keep falling.
This was a Labour Budget which prioritised Portsmouth, recognising our city is fizzing with potential and the national contribution we can make as an engine for growth.
Following the commitment to regenerate HM Naval Base Portsmouth in the Spring Statement, I welcome the Chancellor specifically mentioning the role our great city will play in ensuring strong foundations and a secure future for Britain”.
The Budget measures include:
- Cutting the cost of living with £150 off energy bills
- Freezing prescription charges and train fares
- Cutting NHS waiting lists with 2m more appointments and 250 neighbourhood health centres
- Removing the two-child limit in Universal Credit helping an estimated 2,780 children living in households affected by the policy in Portsmouth South alone, reducing relative child poverty nationally by 450,000 nationally across the country
- Extending the fuel duty freeze until the end of August 2026 and introducing a Fuel Finder saving households £89 next year
- Increasing the state pension by 4.8% in line with the triple lock
- Increasing the minimum wage for 18-20 year olds and the living wage
