Inflation has fallen to 3.4% in the year to February. Below expectations. It is the lowest level in about two and a half years and down from 11.1% since 2022. Price rises are on course to hit the Bank of England target of 2% within months. This is good for everyone in Wimbledon & the Maldens and in the UK.
On two separate but related points:
I was invited to hear the Chancellor Jeremy Hunt deliver his Budget for long-term growth. First, we cut National Insurance from 12% to 10%, and now we're cutting it from 10% to 8%. That's a total saving of £900 based on a salary of £35,000.
In the last year, we've seen 300 young people in Wimbledon start an apprenticeship, and many more since 2010, meaning thousands more young people have gained the skills they need to secure good jobs. The Government's new package of reforms will build on that progress to support even more young people to fulfil their potential while also helping small businesses make the most of our fantastic Wimbledon talent and grow the economy.
Let's stick with the plan that is working.
