The Chancellor Jeremy Hunt has today given his Budget Statement, with measures designed to support the country in its continued recovery, while taking steps to promote and encourage economic growth.
Headlines from the Budget Statement include:
- The Government will continue the £2,500 energy price cap for typical households for another 3 months.
- The cost of energy pre-payment meters will be brought into line with direct debit payments.
- £63 million fund to keep swimming pools afloat in wake of high energy costs.
- Duty on draft beer sold in pubs frozen.
- Fuel duty to remain frozen. 5p cut in the price of petrol will remain intact.
- £5 billion in funding for defence and £30 million to support the Office for Veterans Affairs.
- An additional £200million next year for the dedicated Potholes Fund.
- 30 hours of free childcare for every child over the age of 9 months.
Welcoming the news was St Austell and Newquay’s Member of Parliament Steve Double, who said:
“It is clear from the Chancellor’s Budget Statement today that the tough measures he announced in the autumn last year to stabilise and protect the economy are working.
“The Chancellor today confirmed that the UK will not enter a recession this year, and inflation is set to fall by more than half, to 2.9% by the end of 2023.”
“These tough but necessary measures have allowed the Chancellor to plan a Budget that promotes growth, while continuing to support households through cost-of-living pressures.”
“Today’s Budget Statement contains measures I have long campaigned for. The reforms to childcare, both in terms of additional free childcare for children under five, and increased hourly rates for nursery providers will make it so much easier for families to get back to work, and also support the providers of this essential service.”
“The measures to support households with energy and fuel costs as well as supporting the pub trade with a freeze on draft beer duty is also welcome.”
“In continuing uncertain times internationally it is also right to see the headline figures for defence funding as well as more support for our veterans.”
“Finally on local matters it is great to see leisure centre operators provided with additional funding to help keep pools open, something I have met with local operators and the Government about, as well as an additional £5million to fill potholes in Cornwall.”
“All positive steps forward and I will continue to do all I can to ensure Cornwall gets its share of what has been announced today.”