LAST week Philip Hammond gave his first Autumn Statement as Chancellor of the Exchequer. As he made clear, it will also be his last… He is abolishing the autumn statement and spring Budget in favour of a single annual Budget in the autumn.

Our new Chancellor recognises that stability is good for the economy, particularly while the uncertainty brought about by Brexit lingers. So announcing new policies in a single Budget, well ahead of the start of the new tax year, will provide a greater sense of clarity and allow individuals and businesses to plan ahead for any changes.

As well as putting his stamp on the Budget process, the Chancellor outlined a number of policies to secure growth. This included clear plans for investment, spending, and the tax system, while continuing to reduce the deficit.

This Chancellor has allowed himself more freedom to invest in the UK’s future. He announced a £23bn national productivity investment fund, with more money earmarked for infrastructure and research, and a new £2 billion housing infrastructure fund to help build 100,000 new homes, with £1.4 billion to deliver 40,000 more affordable homes.

For South Shropshire, there were further encouraging steps. The national living wage will increase by 4% from £7.20 to £7.50 in April 2017 - a pay rise worth over £500 a year to a full-time worker. Increasing rural rate relief for businesses to 100 per cent will give small businesses in rural areas like south Shropshire a potential saving of up to £2,900 per year.

There will be further investment of £1 billion in our digital infrastructure, and give 100 per cent business rates relief for five years on new fibre infrastructure, which I hope will support more rapid roll out to homes and businesses in south Shropshire.

Local families and businesses will welcome the continued freezing of fuel duty, saving the average car driver £130 a year at the pump. Banning unregulated fees in the private rental sector will help ensure tenants are no longer hit by extra charges that can be difficult to afford.

The Chancellor also provided specific support to Shropshire, through funding to undertake the full business case for a north west relief road around Shrewsbury. The Midlands Air Ambulance received £1 million to keep its helicopters up-to-date, and £11,000 of funding will provide bespoke counselling for service personnel, veterans and their families in Shropshire.

Our economy has confounded expectations since the vote to leave the EU. Now, the government will continue to focus on building an economy and a country that works for all.