I was proud to be part of the Chancellor’s team delivering our Budget for Growth for families and businesses across the country.
Here’s a summary of how this Budget will benefit us in Louth & Horncastle:
Extending the energy price guarantee
For the next three months, the price households pay for the energy they use will continue to be capped, as they have been since October, so that a typical household will pay £2,500. This will save the average household £160 per month.
Expanding 30 hours of free childcare a week
We are expanding free childcare so that local working parents will be able to access 30 hours of free childcare per week from when their child is 9 months old to when they start school. This will be worth up to £6,500 per year per child from 2025, allowing parents more flexibility and choice.
Freezing fuel duty for a 13th year - saving the average driver around £200
We are freezing fuel duty for the thirteenth consecutive year, at current levels for the next 12 months delivering a saving of around £200 for the average driver.
Brexit Pub Guarantee
We’re supporting our pubs by making sure draught duty is always less in pubs than the duty in supermarkets.
An additional £33m to support our veterans
We are providing an additional £33 million over the next three years to support Veterans to recognise the sacrifice they made for our country. This funding will be split between three projects: World Class Veteran Support Infrastructure, Veterans’ Mobility Fund and Veteran Capital Housing Fund.
£6,884,000 to fix potholes in Lincolnshire
We are investing £200 million nationally in 2023-24 in maintaining and improving local roads, enabling local authorities to fix more potholes, complete resurfacing and invest in major repair and renewals to ensure our road network is safe and improved for motorists.
For more information about the Budget for Growth please click here.