City of York Council's Conservative group have welcomed Chancellor Philip Hammond’s pledge to commit £23 billion to a national productivity investment fund to be spent on innovation and infrastructure as the centrepiece of yesterday’s Autumn Statement.
Cllr. David Carr, Group Leader and Leader of the Council said: “This was a sensible budget re-calibration rather than a complete re-steer and all the better for that given the current economic uncertainty. We support the Government’s commitment to infrastructure projects such as roads and rail which contribute to economic resilience and provide ongoing benefits, as well as the Government’s gimmick-free plans to finance it, unlike the stand alone PFI funded projects of the Labour years.
“The statement also had welcome news for savers, renters and drivers by way of the availability of a new investment bond, a new on letting agents’ fees and fuel duty frozen for a seventh year.
“We also support the Chancellor’s nuanced re-set for helping people back to work by not introducing any further cutbacks to welfare provisions whilst increasing the Personal Allowance to £12,500 by the end of this Parliament. This is, we feel, a work in progress, and very much in tune with the Prime Minister’s pledge to govern for all of the people.
“Given the uncertainties on the horizon we think this was a very adept announcement and one on which to build in the coming years.”