Simon Hughes, MP for Bermondsey and Old Southwark, has today welcomed the Autumn Statement and said that it will be a huge boost for people on low and middle incomes living in London.
Simon Hughes said:
The last three years have been incredibly tough for many people living in Bermondsey and Southwark - and we are still not out of the woods.
However, today's Autumn Statement shows that the sensible and fair decisions taken by Liberal Democrats in government are starting to have a big impact on the economy and the real lives of people living in London and around the country.
I know that my constituents will particularly welcome the bold and progressive housing measures announced today, including more money for new affordable homes by increasing council borrowing limits; more government support to help people buy affordable homes through schemes such as Right to Buy; the introduction of capital gains tax on the sale of homes by non-UK residents to make sure everyone is paying their fair share; and an urgent review into how local authorities can increase the supply of affordable housing.
I am also delighted to see measures to support local businesses, such as a business rate rebate worth £1,000 for small retailers and a cap on business rates in 2014. I will be supporting these policies with Southwark Liberal Democrats as part of our recently launched local regeneration and growth plan for the Old Kent Road, Tower Bridge Road, and Walworth Road.
But there is no room for complacency. Over the coming weeks and months, I will continue to work hard to get the best deal possible for people on low and middle incomes. I am determined to make sure that as growth returns, the benefits are felt by everyone, and seen right here on the streets of Southwark and south London.