Wilson – missed opportunity to reduce childcare costs

DUP East Antrim MP and Treasury spokesman Sammy Wilson has said whilst some measures in the Chancellor’s statement are welcome, we are disappointed that the Government has not, as yet, stepped in to help working families by increasing the Tax-Free Childcare Scheme.

By Sammy Wilson MP

East Antrim

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Mr Wilson said,

“The commitment to allow people retain more of their money is welcome and will help the economy grow. The reversal of the National Insurance rise is right and a step we have been pressing the Chancellor and his predecessors for. The rise was never justified. This will put real money back into people's pockets, helping them pay for the increased fuel and food costs. The rise was never justified.

Whilst the announcement on Investment Zones sounds encouraging, we need the Northern Ireland Protocol removed and replaced by arrangements which allow Northern Ireland to benefit.

I am disappointed that the Tax-Free Childcare allowance has not increased from its current 20%. I note the Chancellor’s response however, to my question where he committed that his Ministerial colleagues are looking at the matter. Childcare is an enormous cost for working families. This was a missed opportunity to increase the tax-free allowance which would release parents into the workplace and help childcare providers.

The energy support schemes are welcome but the £100 current proposal for homes heated by oil is not acceptable. I am glad the Government is working on a better support scheme for oil users and will legislate for it in London but time is pressing and we need to see more detail. Oil customers have had a 300% increase in the cost of filling their tanks.

The failure to bring forward a more effective windfall tax on energy generators is also a missed opportunity to raise more money which could help hard pressed working families. These companies are making colossal profits through no innovative effort of their own but because of global events. They should be taxed accordingly.

Similarly there should be more efforts to capture taxes from the online giants who currently pay little to no tax in the UK meanwhile our highstreet retailers are taxed on every front.”

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