Drop in Job Seekers claimants in South East Cambs hailed by MP

PUBLISHED: 09:19 26 March 2014 | UPDATED: 09:19 26 March 2014

Jim Paice. Picture Steve Williams

Jim Paice. Picture Steve Williams

Archant

South East Cambridgeshire MP Sir Jim has welcomed measures in Chancellor George Osborne’s budget which are aimed at boosting the income of pensioners and savers.

The budget announcement followed news of more strong employment figures for South East Cambs. The number of unemployed claimants in the constituency in February was 874, representing a rate of 1.4 per cent.

This compares to a national average of 7.2 per cent and the figures is 467 claimants lower than in February 2013 and 33 lower than in January 2014.

The Chancellor announced on Wednesday that the annual limit on ISAs will increase to £15,000 a year, the 10p rate on savings income will be abolished and there will be a new pensioner bond in January 2015.

It was also announced that, from April 2015, all remaining tax restrictions on how to access defined contribution pension pots will be removed.

No one will have to buy an annuity, there will be no 55 per cent tax rate if you try and take more than your tax-free lump sum, and there will be a new guarantee that everyone who retires on defined contribution schemes will be offered free advice.

The Chancellor also cut tax on beer by 1p per pint, froze spirit and most cider duties, and ended the wine duty escalator.

Sir Jim said: “Savers and pensioners have had a difficult time in recent years. I therefore welcome these measures which will give them more help, especially pensioners who will now have greater flexibility in respect of their savings.

“With the excellent news about growth, employment and reducing the deficit, this extra help where it is needed shows that the Government’s policies are delivering results.”

0 comments

More news stories

Yesterday, 23:32

TV medium and spiritualist Derek Acorah was at the centre of a storm of controversy tonight after pulling out of a performance at Wisbech St Mary moments before he was due on stage.

11:30

From the Royal Albert Hall to Ely Cathedral – that is the path taken by a group of young singers from Ely as they prepare for their second performance in six months of one of the most popular choral classics of all time.

Yesterday, 14:23

A youngster from Ely is preparing to make a splash to help support people who are battling terminal illnesses.

Yesterday, 13:32

Year 10 students from Witchford Village College have been experiencing what it would be like in the world of work.

Most read stories

Most commented stories

Digital Edition

Image
Read the Ely Standard e-edition E-edition
HOT JOBS

Show Job Lists

Newsletter Sign Up

Sign up to receive our regular email newsletter