This week the Chancellor has laid out the detail of the Spending Review, which is essentially where the Government sets the funding for public services for the coming year. Because of print times I am writing this in advance of the statement but clearly there are some very difficult decisions that need to be made to get the country’s finances back on their feet after this awful year.
I have led a group of Conservative backbench MPs and peers to write to the Chancellor ahead of the statement to send a very clear message that the best way we rebuild our finances is to make the UK the best place in the world to do business. We can achieve this by simplifying and where possible lowering taxes and making sure regulations are those that genuinely improve our position, taking advantage of the new freedoms we have outside the EU institutions.
We all know that raising taxes does not necessarily lead to more revenue for the Treasury. Increased corporation and personal taxes are a disincentive and always lead to less economic activity, which means less money for the Government to fund the NHS and other vital services. More taxes also put off entrepreneurs or investors who otherwise may start great new businesses creating jobs for others as well. Also these are some of the people who have been hit the hardest in 2020. They need a chance to move on and bounce back with a clear path back to prosperity.
I was very pleased with last week’s announcement that there will be a four-year plan for £16.5billion of new funds for our Armed Forces. It is expected this will create around 40.000 new jobs across the country and it is good news for businesses and employees here in the South West. Crucially, the certainty of a multi-year settlement should allow the MoD and companies like Leonardo to plan together over relevant time periods. Following discussions with them and others this is something I have pressed the Treasury and MoD for, so I am encouraged and look forward to supporting new cutting-edge projects such as unmanned aerial vehicles and cross platform integration.
Like all sports clubs, both professional and amateur, Yeovil Town FC has had a challenging time whatever happens on the pitch. The management there are really proactive though and full of ideas not just to stay afloat but actually grow and make the set-up for players and fans better. I have been in close touch with the club, South Somerset District Council and the Government Department of Digital, Culture, Media and Sport for some time now, helping to bring them together to discuss ideas about how to get through this difficult time, and will be fully behind proposals that support the club in the future.
Hopefully we will face fewer COVID restrictions in the near future and I will continue to press for all sports to be at the forefront of this, given the obvious benefits not just for our physical health but also our overall wellbeing.
As always, if you would like to get in touch about any of the above, or if I can help with a problem or local issue, please get in touch be emailing firstname.lastname@example.org or calling 01935314321.