As I mentioned last week, the Chancellor read out in House of Commons his new budget for the year ahead.

What he has made clear is that our economy has been shown to be far more resilient than many had expected. Indeed, many had predicted a recession early this year, which the Chancellor has fended off with diligence and care. But this did not preclude some major announcements for investment from happening. In fact, West Dorset will benefit significantly from the news.

Firstly, the Chancellor announced a multi-million-pound package for pothole repairs. Of that, Dorset will receive £2.9 million. Secondly, 30 hours of free childcare a week for children aged from 9 months to 4 years old. For those commuting to work by car, fuel duty will remain frozen to keep prices down as much as possible. The Energy Price Guarantee will also be kept at £2,500 until July 2023.

Our economy comprises 97% small and micro-sized business in West Dorset. I want taxes to be as low as possible to boost our economy and to more than return to post-Covid levels. I petitioned the Chancellor to ringfence our small businesses from 25% corporation tax rate and that is what he has delivered with the £250,000 profit being the threshold. My preference is that we continue a policy of lower taxation and whilst I consider these protections for small businesses a positive step, but I will continue to make the case for tax reduction.

Pubs across West Dorset will be granted a more level playing field through the freeze on draught beer. This coincides with a rise in alcohol duty for products sold in supermarkets, making it on average 11p cheaper for a pint in your local pub than it would be in a supermarket.

Elsewhere, as your MP I have also secured a major victory on holding water companies to account on their environmental performance and dividends to shareholders which I will discuss in more detail next week!

CHRIS LODER

WEST DORSET MP