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Liberal Party Leader Steve Radford responds to 2021 Budget
Whilst the impact of the 2021 budget will be small on most people in employment, the impact on pensioners will be significant.

The loss of the triple lock will result in pensions not keeping pace with inflation. At the same time rising inflation will diminish the value of savings and although it will trigger increases in the interest rates to partially compensate, the 'lag time' losses will be negatively realised. The loss impact on pensioners is likely to be in the region of £400 per year.

Failure to increase personal tax allowances at a time of higher inflation will represent a real terms cut in income.

 The Liberal Party welcomes Universal Credit taper adjustments as an incentive to  work.

Whilst the increase in the minimum wage is welcomed, it will result in greater hardship to those who require child care services to enable them to attend work.

Given the proven and diverse supply shortage the country currently faces, further inflationary pressures will be realised.
The Liberal Party would re-establish Industrial Training Boards to assess the skills shortage across various economic sectors and take a pragmatic approach with regards to immigration to enable priority visas to be granted to individuals who have the skills required for work sectors which have been assessed as having a skills shortage and a longer term skills development plan in place.
Cllr Steve Radford, leader of the Liberal Party

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