Finchley and Golders Green MP RUDI VIS explains why Labour's spending plans are good news for you.

LAST week saw the pre-Budget report where public spending and tax plans were set out by Chancellor of the Exchequer Alistair Darling.

He made clear that Labour understands your aspirations by setting out an economic programme that will make a real difference to the lives of families and pensioners in Finchley and Golders Green.

It's vital that we maintain investment in our public services across the UK, London and Barnet. That is why I'm pleased these plans give more money to local schools so that all of our children can get a decent start in life. The extra expenditure in the NHS will mean that waiting times can be further reduced to 18 weeks, as Labour promised, and we can have cleaner hospitals and better access to GP services.

Also many people require more and better housing. Labour's plans will deliver them and the better transport links to support them.

I know many people in London continue to be worried about rising house prices. Many households in Finchley and Golders Green have moved into the inheritance tax bracket due to rising property values. This would mean that for a large number of people they would not have been able to pass on what they had hoped, to their children.

For some time now constituents have been telling me of their concerns about the level at which inheritance tax became payable. Even last weekend when talking to people on the doorstep it was an issue. I also highlighted these concerns when interviewed by ITN in Finchley.

I have therefore been urging the Government to consider raising the threshold on inheritance tax, in London and the South East, so that ordinary working people would be above the threshold. I therefore welcome the Government's plans to increase the threshold for being liable to pay inheritance tax for married couples to £600,000, rising to £700,000 by 2010.

To ensure that people who have already lost their husband or wife will also benefit, this will backdate indefinitely for every widow or widower. I am sure this will help bring peace of mind to many home-owners.

We also need to do more to help less well off families across the UK. The Government's commitment to raise Child Tax Credits well above inflation next April will give them a more secure future.

Labour's commitment to raising the pension credit minimum guarantee to £124 for single pensioners and £189 for pensioner couples from next April will help them too.

I believe that most people want a more prosperous and fairer future and Labour's plans will help to deliver this.