‘Entrepreneurs fuel Havant economy’
The Havant constituency is home to many fine examples of enterprise that fuel our vibrant local economy.
None more so than P&I Generators, a firm started 20 years ago in the bedroom of its founder Paul Benfield, from Leigh Park.
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Hide AdFrom those small beginnings it has become a leading independent supplier of power generators – a real local entrepreneurial success story.
I opened P&I’s new HQ on Harts Farm Way allowing it grow, taking on more local staff here and creating new jobs and wealth for our area.
I wanted to showcase this excellent local success story by inviting the treasury minister Robert Jenrick to the facility to see first hand the strength of our local economy.
At a meeting of local business leaders held at the new facilities the minister outlined how the most recent budget delivers for everyone across the Havant constituency.
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Hide AdThat includes increasing the National Living Wage by nearly five per cent – from £7.83 to £8.21.
This means that for some of the lowest-paid full-time workers, it will deliver a £690 annual pay rise, taking the total annual pay rise since its introduction to £2,750.
This is combined with an increase in the Personal Allowance to £12,500 and Higher Rate Threshold to £50,000, saving a typical basic rate taxpayer £130 compared to 2010.
Local businesses will benefit from a cut in Corporation Tax to 17 per cent by 2020 and the biggest increase R&D spending in 40 years.
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Hide AdOther plans the minister talked about include a further £20.5billion for our NHS, more support for our high streets, increase in the schools budget, plans to make house ownership more affordable and a freeze in fuel duty.
These measures are all designed to improve the lives of people across the Havant constituency and encourage investment from local firms.
As was seen first-hand by the minister with the success of P&I, the budget is laying the groundwork to ensure continued prosperity by backing our entrepreurs.