The Lib Dem has said that the budget lacks ambition and families and business in rural Wales will be disappointed.

The Budget

Chancellor John Healey announced today’s (October 28) budget, which has seen criticism from most rival parties.

In the budget, Healey revealed that the VAT cut on electricity, which had been expected to end in March 2027, will be extended to July; Twenty million households in council tax bands A-D will receive a £100 "household energy payment" this winter, paid directly into bank accounts; and there will be a further extension of the 5p fuel duty cut until July 2027.

70,000 businesses will now not have to pay the small business relief rate as the threshold has been raised from £12,000 to £18,000 for hospitality and leisure businesses amongst over things.

Many parties have said they have been left disappointed in the budget.

Chadwick’s comments

The Brecon, Radnor and Cwm Tawe MP said: “This Budget will come as a disappointment to many families and businesses across Brecon, Radnor and Cwm Tawe who are already struggling with rising costs.

“In rural areas like ours, having a car is often a necessity rather than a luxury. While the Chancellor has extended the existing fuel duty cut, he has missed an opportunity to go further and provide some much-needed relief for motorists who have seen prices at the pumps rise sharply.

“I am also deeply disappointed that the Government has failed to introduce a price cap on heating oil & LPG. Thousands of households across Powys and rural Wales rely on heating oil to keep their homes warm and remain completely exposed to volatile global prices. Suspending import tariffs is not going to provide the protection these families desperately need.

“Beyond the immediate cost of living pressures, there is also very little in this Budget to address the long-term challenges facing our communities. We need investment in our roads, railways and local businesses, alongside better opportunities for young people who increasingly feel they have to leave rural Wales to find decent jobs.

“We deserve more than another Budget that overlooks the particular challenges of living and working in rural communities.”