DROITWICH MP REFLECTS ON IMPACT OF AUTUMN STATEMENT
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These are dangerous times for the world economy, threatened by the failure of both the USA and the Eurozone to solve their massive debt problems.
Droitwich Spa, though, is as well placed as anywhere to withstand the storm. This is largely because of all the investment it has enjoyed in recent years which is making it an increasingly attractive place to live and to set up business.

Last week's statement from the Chancellor of the Exchequer will really help Droitwich too. Local people are benefitting from the record low interest rates on their mortgages - low because the world has confidence in the UK and is prepared to lend us money at reasonable rates to finance our borrowing.

But small businesses have not really benefitted enough from those low interest rates. Now that will change. The Chancellor has outlined an active enterprise policy to help businesses expand and create jobs, with a 20 billion National Loan Guarantee Scheme, new tax breaks for investment in start-ups and cuts to red tape.

The working families of the town will also benefit from the doubling of the number of children who will receive free nursery care, and government investing nearly 1 billion to help young people get jobs and training.

Local people deluged me in requests that something should be done about fuel prices so I'm really glad the government has acted. The plan for next year was that fuel duty would be 3 pence higher in January than it is now and 5 pence higher than it is now in August. Instead the increase planned for January has been scraped entirely and in August fuel duty will only rise by 3 pence. So fuel duty will be frozen for nineteen months in total. From April petrol duty will be a full 10 pence lower than it would have been without the action taken in the Budget and this autumn. Families will save 144 on filling up the average family car by the end of next year.

In difficult times this an encouraging set of measures that will help the people of the Spa.

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