The Budget leaves me seriously concerned for both our country and our region. After a difficult year for families and employers across Exmouth and Exeter East, I had hoped for a plan that would ease pressure, reward hard work and set out a credible route to growth. Instead, we were given a Budget that does not meet the scale of the challenge. Working people now face a £26 billion tax rise while growth continues to fall.
It also compounds the problems created by last year’s Budget, which failed to deliver the investment and direction our region needs. Once again, ministers have missed the chance to unlock the potential of coastal and rural communities.
Those missed opportunities have real consequences. Our constituency is home to ambitious businesses that want to grow, invest and create jobs, but they need certainty, not more red tape and drift from government.
In the months leading up to the Budget I visited many local hospitality venues, and every conversation told the same story: rising operating costs are pushing businesses to the brink. Energy bills, supply pressures and staffing shortages are already biting, and for some the cumulative strain could be the difference between staying open and closing. Owners were clear about the support they needed, but this Budget does not deliver it. On top of that, changes to business rates will drive costs even higher for local employers, with many facing steeper bills at a time when margins are already tight. For high street shops, small manufacturers and hospitality venues, this means yet more pressure on the businesses that keep our communities alive.
Farmers were left just as frustrated. Over the past year I have visited farms across Exmouth and Exeter East, brought the Shadow Farming Minister to the constituency, and raised concerns directly with ministers. Farmers spelled out what was required, yet the Budget provided no help with fuel, feed or fertiliser and took no meaningful steps to strengthen domestic food production. Changes to agricultural and business property relief now risk increasing the tax burden on family farms.
A strong economy cannot be built by taxing work more heavily while offering no incentive to work. Working people keep less of their pay, savers are penalised, and employers face rising pressure. Squeeze the people who create jobs and, eventually, there will be fewer jobs.
Labour had the chance to control spending and cut taxes but chose not to. I will continue working with my Conservative colleagues to do the hard graft in opposition- developing credible, practical plans to rebuild the economy and get Britain working again.