Income Tax (Charge)

Bayo Alaba Excerpts

Tuesday 5th November 2024 Commons Chamber

[Mr Bayo Alaba (Southend East and Rochford) (Lab)]

This Budget represents a huge step towards restoring the vibrancy and potential of my constituency. The commitments in this Budget will support our hospital and health services, revitalise trade and hospitality, and knit the community closer together.

Over the past 14 years, our public services have been neglected and the hospitality and retail industries have been unsupported. That is why I am so proud that the Labour Government are working to fix the foundations and reform our public services at their very roots. This Budget invests £25.6 billion in the NHS over two years, which will cut waiting times by creating an extra 40,000 elective appointments a week so that the NHS will be there when we need it. I know how important this is in Southend East and Rochford, where hospital and health workers are working hard to serve their community.

The businesses, restaurants and bars that are integral to Southend East and Rochford’s local offer will be pleased by the measures announced in this Budget—as someone who has run businesses in that sector for over 24 years, I know how important it is. The Government are choosing to protect small businesses by increasing the employment allowance to £10,500 and expanding that allowance to all eligible employers. This Labour Government are making business rates fairer to protect our high streets and are permanently introducing lower rates for retail, hospitality and leisure—as many as 6,380 microbusinesses in the Southend city council area stand to benefit from those changes. These are steps that will deliver the change that our communities deserve and regenerate our local economies.

Finally, this Labour Government are increasing the national minimum wage to £12.21 per hour——an increase of 6.7%—which will serve to revitalise the hospitality and retail sectors. The Low Pay Commission estimates that 54% of all jobs paying at or below the minimum wage are in retail, hospitality, cleaning and maintenance occupations. The workers in those industries have been overlooked for too long. Labour’s Budget puts those workers back on the agenda, with more money in their pockets at the end of the month. I welcome the actions of this Labour Government to support essential services and equip our leisure and retail industries with the tools for the future.

The Budget turns a page on the last 14 years and begins to create the conditions for an area such as Southend East and Rochford to thrive.