This week in Parliament the Chancellor announced the first Budget of the new Labour Government. Whilst there were positives in terms of the continued freeze on fuel duty, there will be an additional £6w00million for the Northern Ireland budget. That funding will obviously be vital for our most important public services here, but there has been an acceptance of the need for funding to be provided on the basis of need.
The campaign for proper needs-based funding for Northern Ireland has been wrongly dismissed as a form of ‘begging bowl’ politics. We are mandated to continue to campaign to ensure Northern Ireland is funded on an equitable basis according to need. I want to see all parts of the United Kingdom treated fairly and the benefits of being part of our nation enjoyed by citizens across every region. That additional funding won’t solve all our problems, but it is important step towards better public services in Northern Ireland.
I will always seek to ensure our voice is heard and that will now include on Northern Ireland Affairs Committee in Parliament. With support of Party colleagues, I will be the DUP representative on the committee during this Parliament, but I will also be the only pro-Union voice from Northern Ireland heard on the committee. Holding the Government to account is always important, but this is even more important when the Government has a majority as significant as that currently enjoyed by Labour.
Whilst there were some positive aspects to the Budget, even the Chancellor has been forced to admit that the tax-raises will affect wage rises for workers. Increases to employers National Insurance will likely mean that wages are hit alongside increased prices as the cost is passed on to consumers.
One of the most controversial aspects of the Budget, including in Northern Ireland was the decision to limit Agricultural Property Relief on farms which will see them subject to inheritance tax beyond a £1million threshold.
Whilst £1million might sound like a huge value, in reality it means that relatively small family farms would be subject to this tax burden upon inheritance and presents the real threat that a farm that has been built up by a family over several generations is broken up to pay that tax bill. That is a policy which will very quickly see the end of the very family farms the Chancellor claimed she wants to protect.
There is significant opposition to this measure right across the UK and I have no doubt that we will see this growing over coming days and weeks. The DUP will continue to support primary producers here in Northern Ireland and work with colleagues right across the United Kingdom to highlight the threat posed by these changes.
After the Budget statement I sat down with Sammy Wilson in the second episode of ‘The Lions Roar’ podcast to discuss it further. The episode will be available on Monday on Spotify, Apple Music and YouTube. Make sure you listen and subscribe.
