Crockart - Liberal Democrat influence delivers progressive emergency budget

22 June 2010

Edinburgh West MP Mike Crockart has praised the emergency budget presented to the House of Commons by George Osborne today as delivering the key principles of Freedom, Fairness and Responsibility as promised in the Coalition Agreement.

The emergency budget , implemented by the Coalition Government, has taken tough but necessary actions to control the horrific deficit left by the previous Labour Government.

While tough actions were taken, many progressive policies championed by the Liberal Democrats will help ease the pain for the poor and middle class across Scotland. These include:

• Raising the personal allowance for income tax by £1,000 to £7,470 - This will lift 880,000 out of tax and provide an extra £200 a year for 23 million taxpayers

• The establishment of a banking levy raising £2 billion

• Earnings link restored for pensioners from next April - With a triple lock guaranteed yearly increase in line with inflation, wage increase or 2.5%, whichever is higher

• The establishment of a Green Investment Bank to help promote a new green energy industry

• Increase of the Child Tax Credit by £150

• Doubling of the operational pay for our troops fighting abroad

• National Insurance breaks to increase job growth outside of London

• Freezing of duties on petrol

Speaking after the budget statement, Mike said: "While the Chancellor's emergency budget provides the tough medicine needed to restore the country's fiscal health, I was pleased to see how many progressive Liberal Democrat policies were included.

Tough decisions needed to be taken because of the mess the previous Labour Government had left us with.

However, Liberal Democrat policies designed to create a fairer economy, such as raising the personal allowance, implementing a banking levy, increasing child tax credits and restoring the earnings link have mitigated the effects on low and middle income earners.

I am pleased that the fairness shown throughout the budget means those with the broadest shoulders will bear the heaviest burden.

Just like the Coalition Agreement before, Liberal Democrat policies have helped lay the groundwork for a progessive emergency budget which ensures that the interests of low and middle income people across Edinburgh are protected."