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AMENDMENT OF THE LAW

I join colleagues in congratulating the Chancellor on what I hope is the first of many Budgets from him. Members on both sides of the House have said that these are difficult times for the global economy, but my right hon. Friend was able to report that the economy is stable and resilient and continues to grow. Importantly, he reported that the Government are meeting their strict fiscal rules for public finances. I appreciate that one of my colleagues from Scotland, my right hon. Friend the Member for West Dunbartonshire (John McFall), spoke earlier, but I shall give a quick flavour of the impact that today’s Budget will have there. More than 750,000 pensioner households will benefit from the additional one-off payment of £100 to households including someone aged over 80 or from the additional payment of £50 to households including someone over the age of 60.