Over the last few months the Government have announced the following support for residents to help tackle the cost of living:
- Cutting fuel duty by 5p for 12 months – a £5 billion tax cut and largest fuel duty cut ever.
- Cutting National Insurance now – a £6 billion tax cut for 30 million working people across the UK from July, worth over £330 a year – 70 per cent of people will pay less tax even after the levy.
- Cutting the basic rate of Income Tax to 19p from 2024 – the first income tax cut for 16 years, a £5 billion tax cut for over 30 million workers, savers and pensioners.
- Cutting business employment taxes now by raising the Employment Allowance to £5,000 – a tax cut for half a million small businesses worth up to £1,000 per business.
- Doubling the Household Support Fund to £1 billion for councils to support the most vulnerable.
- Funding a £150 council tax rebate for all band A-D households
- Package of support for £400 off energy bills for every household, with additional support of up to an additional £650 for the poorest households
However, we want to hear your views on whether there is more you think would help tackle the rising cost of living as well as if there are improvements in our area that would help residents. So please take a few minutes to let us know your views and help us succeed for Birmingham!
