Exeter MP says budget will boost 'world class' city projects

'Exeter has been held back over recent years. That changes with this budget'

A Devon Labour MP has leapt to the defence of the chancellor’s controversial budget.

Criticism of Rachel Reeves’ budget has continued in the House of Commons throughout the week as the finance bill was debated, but Exeter MP Steve Race took the opportunity to back it.

Other local opposition MPs attacked the budget's proposals for areas such as National Insurance and inheritance tax.

But Mr Race said it was a ‘welcome break’ after 14 years of what he described as "policy uncertainty, fiscal incompetence and austerity for our public services" under the previous Conservative government.

Speaking in parliament, he said: “It starts to put this country back on a firm footing, rebuilding the foundations, and investing in communities and places like Exeter.

“Exeter people have had a tough few years. The inflation they experienced as higher mortgage costs, higher rents, higher energy prices and higher food prices was made worse by the last government’s catastrophic and incompetent financial management.

“Exeter is the economic driver of our region. It sits at the heart of a travel-to-work area of over 470,000 residents. Exeter is home to a world-class research-led university, and we have a best-in-class further education college and good secondary schools. We have the Met Office and the Exeter Science Park, and we are home to further cutting-edge research, including one of the UK’s supercomputers.

“However, Exeter has been held back over recent years by a Tory government that has not invested in public services and our economy in the way we need to succeed. That changes with this budget.”

Mr Race welcomed extra spending on scientific research and development, and went on to say that local people had been pleased to see more investment in the NHS and in local schools.

“Having a healthy, well-educated city, with opportunities to work in the high-tech sectors of the future is vital to our future economic prosperity,” he said. “This is a budget that recognises that reality, and also recognises that the south-west region, and Exeter in particular, has huge potential and will play a significant role in the growth of the UK economy in the future.”