THIS week sees the start of the new financial year for 2024/25, and there are a number of positive announcements that will impact many people across Mid-Cornwall.

Firstly, the government's National Living Wage, the legal minimum for workers over 21 and over, has now increased to £11.44 per hour. This year, for the first time, the National Living Wage applies for all workers 21 and over, as opposed to 23 and over.

Next, there are tax cuts for 27-million working people, as the government has again cut the main rate of employee National Insurance Contributions (NICs), from ten per cent to eight per cent. As well as this the government has also cut taxes for two million of the self-employed, by cutting the main rate of Class 4 NICs from nine per cent to six per cent.

For state pensioners the government has again increased the State Pension in line with the Triple Lock, with an increase of 8.5 per cent from this week, following on from last year’s saw the largest ever increase of 10.1 per cent. Combined this means the State Pension is now £1,800 higher than it was in 202/23.

On top of this, Universal Credit, the benefit that people who are on low income, sick or looking for work can receive, is rising by 6.7 per cent from Monday this week.

In this first stage, working parents of two-year-olds are now able to access 15 hours a week of government-funded childcare from April 1.

The rollout of support is part of the government’s plan to help families.

By September 2025 the full rollout will be completed, with working parents able to access 30 hours from the end of maternity leave to when their child starts school, saving parents an average of £6,900 per year.

And also for working parents, the government is supporting half a million families through changes to the High Income Child Benefit Charge by raising the threshold and halving the rate at which Child Benefit is withdrawn, benefiting some parents by an average of £1,260 per year.

I know the last few years have been difficult for many households. But with these changes we are providing real help to people whether in work, pensioners or those receiving benefits. On top of this we are seeing inflation coming down which will slow price increases for everyone. It is only as a result of our responsible management of the economy and public finances that we are able to provide this help. We are now on course for better times ahead. The plan is working and I will continue to work with the government to ensure everyone in Mid-Cornwall is able to benefit from the improving economic conditions ahead.

As ever, if I can be of assistance on any matter, my office is available for any constituents needing help, advice or guidance – telephone 01726 829379 or email [email protected]

Steve Double, Conservative MP for St Austell and Newquay