Sharon Hodgson MP: Budget delivers hope, growth and breathing space for Sunderland
Last week, the Chancellor unveiled his first Budget since Andy Burnham became Prime Minister. It will bring growth to Sunderland and provide breathing space for families, pensioners and young people after years of Conservative failure.
This Budget was a truly Labour Budget, promising to bring fresh hope for the future. Too many people in our communities and across the country are finding it difficult to get on the housing ladder, and so I am pleased that the Chancellor has taken action to
support first-time buyers. The new 'Your First Home' scheme will help first-time buyers with a 2.5% deposit requirement. This change means that the dream of home ownership can become a reality for more young people across the region.
The Chancellor has also recognised the real issue of so many small businesses having to close their doors, and has taken concrete steps to revitalise our high streets, which are the heart of so many towns, cities and communities across the North East. The Budget will
extend the Small Business Rates Relief to eligible retail, hospitality and leisure properties, and remove eligibility for vape and adult gambling shops, bringing vibrancy back to our high streets.
But the Government isn't stopping there: larger businesses are also being supported, such as the Chancellor's announcement for Rolls-Royce. This exciting venture will support over 3,000 jobs, including in Washington. I know how important these skilled manufacturing jobs
are to families in our region and I am pleased that this has also been recognised by the Chancellor.
The conflict in the Middle East is leaving everyone feeling worse off, and I am so thankful that the Chancellor not only recognised this but set out steps to make paying bills easier over the coming months. From January 2027, millions of homeowners will receive a £100 payment directly to their bank account as part of the Energy Bills Breathing Space Scheme. Over 95% of households in my constituency will be eligible for this payment, to provide some extra support in these colder months ahead.
The string of previous Conservative Governments promised to make people's lives easier and couldn't deliver. This Budget is a Labour Budget; it promises growth, good jobs, and breathing space for family finances, to reinstall hope into every postcode.