Commenting the DUP’s Treasury spokesman said,
“The last two years have been unprecedented, and the Treasury responded in an unprecedented manner to protect jobs and safeguard employers. Northern Ireland being part of the United Kingdom reaped the benefits of having our ship harboured in one of the world’s major economies.
We will take time to analyse the budget and consider the detail. Snap reactions on the day a budget is published rarely age well. The multi-year budget should help devolved Finance Ministers plan spending better.
The greatest challenge in homes and businesses alike in the next twelve months is spiralling energy costs. With the price for electricity, gas and fuel in our vehicles at record levels, the Chancellor has shied away from honest conversations about why these costs are spiralling. I welcome the fuel duty freeze but people paying £100 for a tank of fuel want to see more ambitious action by the Government.
We have long campaigned against the APD tax on passengers flying from one part of the UK to another. Whilst the Chancellor has announced a 50% cut from in eighteen months, he should have abolished it completely now. It is driving up costs for those who need to travel and destroying local airports especially in Northern Ireland where we are competing with Dublin.
I welcome the commitment in the budget to low tax and new measures to tackle those not paying tax but the chancellor would do well to look at some of the online giants. Whilst individuals and self-employed will be hounded the big online retailers see their profits grow with little being done to make them pay more taxes in the countries where the sales take place.
Whether the changes to the Universal Credit tapering or wages, it will help and encourage more people to get into work. We support the government in this but once again highlight the blatant unfairness of the high Income Child Benefit Charge. It is grossly unfair to those who are in employment. Two earners can earn £49k each and qualify for Child Benefit yet a household with one person earning £50,001 will not qualify. Whilst the basic rate tax threshold has risen, anomalies like this in the tax system need addressed.”
