Budget number two 2015

After the first few weeks of Parliamentary business have been dominated by the Government delivering on its pledges to devolve more powers to Scotland and give us all a say on our membership of the EU today we have the second budget of the year.

It will be the first all Conservative budget since the end of the 1992 – 1997 Parliament. I expect to see the Chancellor start to deliver on the pledge to ensure the Country starts to live within its means. As a country we simply cannot continue borrowing every month to pay the bills. It means adding more to the accumulated national debt every month. a bigger national debt means ever higher interest payments.

The Conservative manifesto contained a pledge to increase the amount people can earn before starting to pay tax to £12,500 and I expect to hear more today about how the Chancellor plans to move towards that figure.

I have long held the view that one of the biggest problems any Government faces is the length and complexity of our tax laws and I hope the Chancellor takes steps in this first budget of the new Parliament to simplify the tax system.