The Minister said:
“This budget will help maintain economic stability while promoting sustainable growth and prosperity. It is another step towards the Government’s vision of a fair society with opportunity for all.
”For instance, reforms to simplify the tax system could benefit over 280,000 small and medium seized enterprises in the East Midlands, while the £60 million announced nationally for adult skills will benefit many of the 360,000 adults in the region with no formal qualifications.
“There’s a real boost for our schools too, with over 300 secondaries set to benefit from the extension of Enterprise Education, while another 67 of the lowest attaining schools will welcome the announcement of £200 million funding. This money will be targeted at low performing schools to drive up standards in schools and to ensure that all schools meet tough minimum standards by 2011, a year ahead of our original target.
“In terms of support the most vulnerable and those on the lowest income, increases to Child Tax Credits and Child Benefit could boost the income of 260,000 and 520,000 families in our region respectively from April 2009. The additional one-off Winter Fuel Payment announced could benefit around 650,000 households next winter. And around 80,000 people will feel a real difference in their pockets as the national minimum wage increases to £5.73 an hour.
“Alongside other measures in the budget and our existing commitments and programmes, this will mean a real boost for jobs, skills and the livelihoods of many thousands of people in this region.”
Further details of the impact of the budget in the East Midlands can be seen on the Treasury website.
