As the Gazette goes to press, the new Chancellor, Jeremy Hunt has just set out important measures to stabilise the UK economy by asserting fiscal discipline. He has done this by reversing a number of measures announced last month and by sending a strong message to the market that the Government will be prudent.
For the smaller businesses of Brentwood and Ongar, I am pleased to report the small profits rate introduced in the 2021 Finance Bill will be retained so that businesses with profits under £50,000 continue to pay 19 per cent and businesses with profits under £250,000 pay a reduced rate. This will mean around 70 per cent of actively trading companies will be protected from a rate increase.
Every effort is being made by the Chancellor to protect the most vulnerable from the increased cost of living, including energy costs, and the Energy Price Guarantee will stay in place until next April, after which time a review by the Treasury will look into how those most in need will be supported.
If you have any questions about your personal circumstances and what assistance is available to you please do check www.gov.uk for the latest information, or get in touch with me direct.
In other news, a number of constituents contacted me about the incident, last Sunday shortly before 1:30pm, on Queens Road in Brentwood. The police have now issued the following statement: “At this stage we believe this was a targeted incident and three men have been arrested. A 55 year-old man from Dagenham has been arrested on suspicion of affray, a 19 year-old from Brentwood and a 28 year-old from Edmonton have both been arrested on suspicion of affray and possession of an offensive weapon. All three are currently in custody.” If you have information, CCTV or dash cam footage that may be of use to the police, please contact them through www.essex.police.uk/digital101 or by calling 101.
