2026 Budget ‘falls well short’ for Exeter, says MP

The MP for Exmouth and Exeter East has criticised this year’s Budget, saying it “[fails] to address the bigger challenges” facing local people.

Several measures designed to provide cost-of-living help and “boost” small businesses were announced by Chancellor John Healey as part of yesterday’s Autumn Budget speech.

These include asking Ofgem to remove gas standing charges, extending the 5p cut on fuel duty, and increasing the business rate threshold.

While David Reed, MP for Exmouth and Exeter East, welcomes “some” of these measures, he also says their benefits “risk being outweighed by higher taxes, rising employment costs, and weak economic growth”.

“The Chancellor has announced a long list of small measures, some of which are welcome. But taken together, they do little to change the bigger picture,” said Mr Reed.

“We are heading towards a record tax burden, yet living standards are still expected to fall.

“This is a Budget of short-term fixes and added complexity, rather than a serious plan to get the economy growing. The Government seems to be hoping people will focus on the small giveaways rather than notice how much more they are paying elsewhere.”

Mr Reed has said he disagrees with the Chancellor’s decision to keep income tax thresholds frozen, and with the 3.9 per cent minimum wage increase announced.

He believes that while business rate changes will offer “some relief”, high staffing costs are still a “particular concern” for Devon’s hospitality, tourism and retail sectors.

It is understood Mr Reed is concerned about the general “lack of attention” given to Exeter and East Devon as part of the Budget.

He said: “Exeter and East Devon have enormous potential to contribute to the UK’s economic growth, but we need the investment and infrastructure to match that ambition.

“I will continue pressing to work with the Government to ensure we have the investment and support to thrive".