I have listened to nearly thirty Budget speeches since I arrived in Parliament. Usually, they are thoroughly depressing things to witness due to their lack of realism and honesty. No government wants to be blamed for tightening the screws on the nation that honoured it with their votes, so when money is to be saved, therefore, it is often through stealth taxes and fiscal mechanisms that are implied by the ethos of the budget, but never specifically asserted. However, I am satisfied that with this budget, George Osborne has laid his cards on the table and shown us what we must do to make Britain stand upright again. What you see is what you get. I see a lot of difficulty and pain, but no Wolf under the bed.
The Tories are often criticised for favouring the rich and those in the ‘Square Mile’ of London. However, income tax is now higher for anyone earning above £50,000 a year, while those on lower incomes will enjoy the new £7475 personal income tax Allowance. New businesses outside of the South East will no longer have to pay National Insurance Tax on their first ten employees, which I believe will promote enterprise and provide more employment in rural areas.
If we are to eradicate our debt, which now amounts to £20,000 for every human being in the nation, we must make sure everyone has as much as an incentive as possible to do their best. This budget does just that. Our hardships will make us richer, but we must also be more rigorous when scrutinising government spending. Efficiency can be improved through increased transparency and reduced complexity. I will continue to push for fairer, more accountable, and above all, simpler government expenditure, so that your taxes are well spent on building you a better future.