Budget Resolutions and Economic Situation

Helen Maguire Excerpts

Wednesday 28th October 2026 Commons Chamber

[Helen Maguire (Epsom and Ewell) (LD)]

I welcome much of what the Chancellor has shared today, but I believe that the Budget falls short in several areas.

In Epsom and Ewell, hard-working people are being stretched in all directions. One constituent has shared how, even though she is earning more than ever before, she just cannot keep up with the increasing costs of everyday life. That is not a unique experience. Rising costs are making essentials feel like luxuries, and working hard simply is not enough. Food prices are mounting, and energy bills are spiralling. The Chancellor offers a few pennies off a jar of marmalade, which will save households only £21 a year. While Paddington Bear will appreciate the cost of sandwiches going down, that marmalade relief will not help my constituents. We need to bring costs down. No one should have to worry about the cost of energy because of the whims of Westminster or geopolitical instability.

I welcome the £100 cash payment for homes in council tax bands A to D, but if energy bills keep rising, it will only offset the escalation in price. Today, the Government’s tax band checker crashed as people checked to see if they were eligible. That just shows how desperate people are. Instead of offering a one-off reprieve, why not offer a sustainable solution, such as an essential energy guarantee that would save the average family £100 a year, every year?

Epsom and Ewell is home to many hard-working businesses—independent restaurants such as Bamboo Basket and family-run shops such as Fudge & Sons. When I speak to local businesses, one word repeatedly comes up again and again: uncertainty. Only one in six small businesses anticipate growth in the next 12 months. That is a dire assessment, and Labour has only added pressure with its previous jobs tax and national insurance hikes. I welcome the slashing of the endless form filling and pointless paperwork and the introduction of founders’ relief, and I am glad that the Chancellor has finally listened to Liberal Democrat calls to support business and reward entrepreneurial ambition, but more must be done. Businesses deserve a fair deal.

I welcome the efforts to ease business rates, but they do not go far enough. Dawn, the director of Word on the Street bookshop in Ashtead, told me that she fears the changes will not help. Her business is a microbusiness; it has a turnover of less than £1 million, a balance sheet of less than £500,000 and fewer than 10 staff, but her current business rates are more than £6,000. To pay that, she must sell around 1,300 books a year. The current system continues to punish high street businesses and, due to the high rateable value in Surrey, businesses will not benefit from the new exemption. The Government must overhaul business rates now.

Hospitality is on its knees, and the Government have failed to throw businesses a lifeline. Every week, I am told that the cost of doing business is suffocating. Fiona, the landlady at the Marquis of Granby, was forced to increase the price of a pint from £6.50 to £7.15 just in the last year, and now there is a rise in beer duty. Green & Bean coffee shop in Epsom told me that it did not have any hope for this Budget, and quite frankly it was right. Hospitality is not just about pubs, cafés and restaurants; it is a vital entry point into the world of work, giving young people, including NEETs, a chance to gain skills, earn a wage and build a future. When hospitality businesses close, we lose jobs, local growth and the heart of our high streets. We cannot let that happen.

High energy costs put real pressure on small businesses. It seems that big industry gets a discount today, but the high streets get the bill, and Fatima’s Hair Boutique in Epsom is no exception. Hairdressing is energy intensive, and Fatima needs hot water, salon machines and heating. In summer, her salon’s energy bills are around £390 a month; in the winter, they average a staggering £600 a month. The Government have announced that electricity bills will be cut by up to 25% for more than 10,000 businesses through the British industrial competitiveness scheme, but will the Chancellor confirm whether high street businesses are included in that scheme? Small businesses need a cut in their energy bills, not a trim around the edges.

Epsom and Ewell is a strong net contributor to the Exchequer and is home to major businesses such as Aviva, Wates and Slitherine, but that success depends on strong rail infrastructure, and I did not hear anything about that in the Budget today. Cuts to train frequency post-covid are having a huge impact on local businesses. Growth relies on people being able to get to work and contribute to the economy. We must restore train services in Epsom and Ewell to at least four an hour—an investment that would pay dividends back to the Treasury.

I have been in Parliament for just over two years, and in that time I have seen three Health Secretaries come through. What I have not seen is the Government deliver on fully funding the new hospital programme. St Helier is being held together by patchwork repairs, and now we are seeing the result of that chronic under-investment—pipework so old that Legionella and Pseudomonas have been found in the water in St Helier’s maternity ward. My constituents deserve better. The Government must stop dragging their feet and speed up the construction of the new specialist emergency care hospital.

I welcome today’s abolition of the cliff edge on carer’s allowance, but the details are less welcome. It will not take effect for four years, and it will act as a 100% tax rate for working carers. The Chancellor did not acknowledge the crisis in primary care—GP waiting times are through the roof, while dental deserts are the default. It is not good enough. There was also no mention of funding for the national cancer plan. We need action to save lives and increase cancer survival rates. Treatment must begin within 62 days of diagnosis.

The Chancellor resigned as Defence Secretary because, in his own words, the plan fell

“well short of what is required for defence”.

That was an honourable decision, but now that he holds the purse strings, he has failed to set out a clear route for defence spending with the urgency that is needed. With the general public being told to stockpile, it appears that Britain’s kitchens are going to be better resourced than our armed forces. As such, although I welcome much of what has been announced today, for many of my constituents this Budget has not been bold enough. We need real guarantees that support constituents and businesses, because life should not be this hard.