Local MP welcomes Budget boost for local businesses and schools

Julian Knight MP has welcomed the decision by Philip Hammond to offer a one-third cut to business rates for small businesses in his latest Budget.

According to the Treasury, the cut will apply to millions of small and independent shops, pubs, restaurants, and cafes with a rateable value of less than £51,000, saving them up to £8,000.

Speaking to the House of Commons on Monday afternoon, the Chancellor also announced a new £675 million fund to help regenerate Britain’s high streets.

Other welcome measures include £400 million in extra schools funding – worth £10,000 to every primary school and £50,000 to every secondary – and the decision to freeze fuel duty for the ninth year in a row.

Speaking after the Budget, Julian said:

“In his speech on Monday, the Chancellor set out how far this country has recovered from the financial crash of 2008, and announced further measures to support small businesses, protect our high streets, and drive forward the so-called ‘jobs miracle’.

“Tax cuts for small businesses, and a big funding boost for local schools and mental health services, show that the British people’s hard work on the deficit is paying off.

“I am especially pleased that fuel duty will remain frozen for another year. I have played a leading role in the cross-party campaign to get drivers a better deal, and will continue to stand up for motorists and manufacturers in Parliament.”