Budget 2011 - Government Statement on Yorkshire and Humberside

THE BUDGET 2011 took place today and HM Treasury have announced what this will mean for Yorkshire and Humberside.

The establishment of 21 new Enterprise Zones, will include the Sheffield City Region and Leeds City Region Local Enterprise Partnership areas to encourage growth in Yorkshire and the Humber. 10 more Enterprise Zones will be announced in the summer and there are hopes that the Hull, East Yorkshire or Humber areas might benefit and be one of those.

Other measures which the Government says will benefit the region are:

• a further increase in the income tax personal allowance for under 65s of £630 to £8,105, benefiting around 2 million Yorkshire and Humber taxpayers by £48 a year in 2012-13, and taking 26,000 out of tax altogether;
• a one pence per litre cut in fuel duty from 6pm today (23 March) in recognition of high pump prices;
• a national work experience programme for under-25s on Jobseeker’s Allowance who have not worked before, potentially benefiting around 10,400 young people in the Yorkshire and the Humber; and;
• £250 million to assist 10,000 first-time buyers in the purchase of a new-build home. Action is already being taken in Yorkshire and the Humber.

The Regional Statement can be found at Yorkshire and Humberside - HM Treasury website and Chancellor George Osborne's full speech can be found at the same website at 2011 Budget Statement by the Chancellor of the Exchequer.