A cut in business rates for high street traders has been welcomed by an MP.

Oliver Dowden, who represents Hertsmere, has reacted positively to the Chancellor of the Exchequer, the Rt Hon Philip Hammond MP’s budget, which he revealed to the nation on Monday.

Within the budget was a pledge to boost Britain’s high streets with many towns across the country suffering from shop closures for financial reasons.

Mr Hammond said that business rates will be cut by a third for 90 per cent of shops, which could save up to £8,000 a year.

There will also be £675m set aside for a ‘future high streets fund’ and a new ‘high streets taskforce’. This well help councils implement plans to transform high streets.

Mr Dowden said: “It was good to see measures in the budget to aid struggling high streets, with cuts to business rates and a high street regeneration fund. I have consistently lobbied for more support for our borough and will now push for it to receive its fair share of funds to help our towns and villages.

“I will continue to push as your MP over the coming months to make sure that these pledges are delivered on the ground for our community.”