NAZEING, Roydon and Sheering MP Bill Rammell has welcoming today's budget describing it as "responsible" and a budget designed to deliver economic stability in the face of global economic challenges.

While the country is facing new challenges from a slow-down in the global markets, this budget aims to invest for the future by increasing investment in eradicating child poverty, giving more help to pensioners, investing in schools and investing in strengthening business and prosperity, he said.

Mr Rammell added Chancellor Alistair Darling had also outlines plans to postpone the planned fuel duty increase until October 2008 and included a strategy to meet the long-term challenges of delivering decent and affordable housing.

Mr Rammell said: "I welcome this Labour budget which continues to deliver economic stability. In 1997 we were one of the least stable major economies, today we are one of the most stable.

"I particularly welcome the significant increase in Winter Fuel Allowance for pensioners to £250 for a single pensioner and £400 for a couple. I also welcome the measures to help 250,000 children out of poverty, increasing Child Benefit and the child element of the Child Tax Credit."

He added: "This Labour Government will not take the irresponsible route chosen by the Tories of promising £10 billion of tax cuts, gimmicks and plans that don't add up.

"They would risk a return to the economic instability of the past with 15 per cent interest rates and three million unemployed."