I warmly welcome the measures taken in this Budget.
I particularly welcome the super deduction, especially as last month I wrote for The Times Red Box calling on the Government to break down barriers to a green industrial revolution through the tax system, including by cutting investment taxes to help businesses to buy new cleaner technologies. The super deduction, by reducing a tax bill by 130% for businesses that are investing, will indeed boost investment and help businesses to make the transition to cleaner technology. I thank the Chancellor for listening to those calls.
I want briefly to touch on the support for families and businesses in Carshalton and Wallington. Throughout this pandemic, I have had many discussions and roundtables with individuals and businesses in my constituency, including dealing with well over 12,000 pieces of casework. The immediate and short-term financial support measures have been welcome, but what I especially welcome in this Budget is the recognition that reopening and bouncing back will not happen overnight for many. Measures such as extending furlough to September, extending the 5% VAT cut for six months, extending universal credit and working tax credit for six months, two further grants for the self-employed, ongoing support for food and holiday activity programmes, providing food, essential goods and laptops to those in need, and new recovery loans, will help families and businesses through the final months of the pandemic and on the road to recovery.
I want to briefly mention three support measures. After leading a debate on behalf of the Petitions Committee, I warmly welcome the extension of the stamp duty relief, and I thank the Chancellor for listening to my calls to taper off the relief rather than stopping it overnight.
I also welcome the £700 million for arts, culture and sport. I hope that organisations in Carshalton and Wallington, such as CryerArts, Mitcham & Carshalton rugby club and Carshalton Athletic, will benefit.
Finally, I welcome the restart grants for hospitality, retail, leisure and personal care. Having held many meetings in Carshalton and Wallington with our independent stores, cafés, pubs, restaurants, hairdressers, salons and others, I knew the concerns they had about surviving to the point that they could reopen properly. I hope that this goes some way to alleviating those concerns. I would just add that I hope we can find a way of extending that support to the wedding sector—and I do not just say that as I am due to get married in July myself.
I thank the Chancellor for listening to many of the concerns that I have raised with him, and I welcome this Budget. I will continue to engage with families and businesses across Carshalton and Wallington to do whatever I can to help them through these last few months.