Old Bexley and Sidcup is home to many young families, and our local Member of Parliament – Louie French – knows how the cost of childcare can be a real struggle for parents and grandparents. However, by sticking to the plan, the economy has turned a corner for the better in recent months.
- The Government is cutting the tax you pay on National Insurance.
- The largest ever expansion of Government supported childcare.
- The Government has frozen fuel and alcohol duties (again).
- Mortgage rates are now falling and energy bills are now the lowest in two years.
- Wages are rising faster than prices and the state pension is rising again by 8.5% in April.
After a difficult few years following the Covid pandemic and Russia’s illegal invasion of Ukraine, our economy is starting to turn a corner once again. Having followed the plan so far, the Government has been able to cut National Insurance from 12% to 8%. That’s a tax cut of £900 for an individual on the average wage of £35,400.
There is more good news for local families too. This Government has expanded access to 15 hours of free childcare a week – benefitting over 100,000 children in England and more than 1200 local families here in Old Bexley and Sidcup alone. Moreover, next September this will be doubled to 30 hours of free childcare per week for working parents with children under the age of five. This will save families an average of £6,900 per year.
In addition to delivering the largest expansion of childcare in England’s history, 96 per cent of early education providers are now rated good or outstanding under the Conservatives, up from just 68 per cent in 2010, giving parents a massive confidence boost in the standards of this provision and that of Bexley's many excellent schools.
We are also supporting parents with Child Benefit changes by altering the High-Income Child Benefit Charge, we’re taking 170,000 families out of paying it altogether. So those families will keep £1,260 more on average. We will also move towards a household system for the High-Income Child Benefit Charge, ending the unfairness for single-earner families.
Commenting, Louie said:
“Too many parents across Bexley are held back from returning to work once they have children because the cost of childcare is too high, but we are putting an end to this. Eligible parents of two-year-olds are now able to access 15 hours of Government-funded childcare a week, with the expansion to go further next year, empowering parents to return to work alongside raising a family.
This comes alongside a £900 cut in National Insurance contributions for the average worker, a £900 boost to the state pension via the triple lock and the freezing of fuel and alcohol duty. All of these actions will be a great help to local families as we recover from the global economic shocks of the Covid pandemic and Putin’s illegal invasion of Ukraine.
