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<p>The Budget set out a long-term vision for an economy that is fit for the future,
ensuring that the next generation have more opportunities than the one before and
everyone can prosper wherever they live and whatever their background. This vision
was underlined by:</p><p><strong> </strong></p><ul><li><p>£15bn of financial support
available for housing over the next five years, to reduce the cost of purchasing a
home and help people to get a foot on the housing ladder.</p></li><li><p>the largest
increases to the National Minimum Wage youth rates in ten years, the new rates will
apply from April 2018.</p></li><li><p>a £1.7 billion Transforming Cities Fund which
will promote local growth and productivity within city regions.</p></li><li><p>a new
devolution deal with North of Tyne authorities, which will see £600 million of investment
over 30 years and create a new mayor elected in 2019.</p></li><li><p>a new £337 million
investment to replace the 40-year-old rolling stock on the Tyne & Wear Metro with
modern energy-efficient trains.</p></li><li><p>a £300 million investment that ensures
HS2 infrastructure can accommodate future Northern Powerhouse and Midlands Engine
rail services.</p></li><li><p>the freezing of tuition fees for 2018/19 and an increase
in the earnings threshold at which post-2012 student loans begin to be repaid (from
2018/19).</p></li><li><p>a package of measures to raise educational attainment in
maths and computer science, so that young people have the skills they need to get
on in life.</p></li></ul><p>This government is committed to ensuring opportunities
are shared in every part of the country.</p><ul><li><p>since 2010, the unemployment
rate has fallen the most in Yorkshire & the Humber (-4.7 percentage points) and
Wales (-4.4 percentage points).</p></li><li><p>since 2010, earnings of the average
full-time employee have grown fastest in Northern Ireland (14.6%) and the North East
of England (13.8%).</p></li></ul><p>We are building a country where everyone can share
in our economic prosperity.</p><p> </p><p> </p><p> </p><p><strong> </strong></p><ul><li><p>in
2015-16, income inequality fell to its lowest level since the mid-1980s.</p></li><li><p>the
proportion of full-time jobs that are low paid is at its lowest level in at least
20 years.</p></li><li><p>the share of total income tax paid by the top 1% is 27.7%;
higher than in any year under the previous Labour government.</p></li><li><p>strong
employment growth has particularly benefitted poorer households, where working-age
adults are 4.6 percentage points more likely to be in work than in 2010-11.</p><p><strong>
</strong></p></li></ul>
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