Stephen Ladyman, Labour MP for South Thanet, today welcomed the Pre-Budget Report as real help for people and business through tough times.

The 2008 PBR set out action to help families and businesses through the tough times caused by the global credit crunch by helping people, and putting money into the economy now so we come out of this sooner and stronger and, once the economy is growing again, tackling the public finance problems caused by the credit crunch, in a way that is fair to all.

Stephen Ladyman MP said:

"The slow down we face didn't start in the UK but we do have to deal with it in the UK. As well as taking a stake in the banks to bolster them in these tough times and the big cut we saw in interest rates last week we needed to step in and give the economy a further boost. I'm delighted the Chancellor has done just that."

"Doing nothing - which is the latest Tory proposal - is not an option. They still believe unemployment is a price worth paying to fight recessions but I do not. It is right that the Government has stepped in to help homeowners, to protect jobs and businesses."

"I especially welcome the special payment to all pensioners of £60 on top of the Christmas bonus of £10. That alone will help 20,300 people in South Thanet but families of disabled children will also receive this extra cash boost and all local families will benefit from the increase in Child Benefit which will start straight after Christmas."

"And the huge cut in VAT will provide a welcome boost to the economy locally. In the 80’s and 90’s the Tory answer to a downturn was to turn their backs on families and businesses. It is the Labour government that is taking action and offering real help through the tough times."

In South Thanet this means:

20300 pensioners will benefit from a rise in the Pension Credit – up to £130, over and above the rise you would normally see (and rising to £198.45 for couples).

9000 families will benefit from a rise in the Child Tax Credit – the £25 increase in the Child Element is being brought forward from (total of £75 above indexation April to April)

17630 children in 9810 families will gain from the rise in Child Benefit (now rising to £20 a week for the 1st child, and to £13.20 a week for other children) – an increase the Government is bringing forward from April to January 2009.

The annual Christmas Bonus of £10 will be increased to £60 – a one-off seasonal payment going to 15 million people including 12.5m pensioners and recipients of Incapacity Benefit, Disability Living Allowance, Carer’s Allowance and Bereavement Benefit.

And 20300 will be receiving their Winter Fuel Payments at the moment – as announced at Budget 2008, an extra £100 on top of the regular £300 payment for over-80s households, and an extra £50 on top of the regular £200 payment for over-60s households.