THE big political news this week - on this side of the Atlantic at least - was the Chancellor's Pre-Budget Report.

I was delighted with the announcement: it balanced the need to maintain Britain's hard-won economic stability with the need to meet the concerns of motorists and hauliers and to do more for pensioners.

Labour's priority on pensions was to help the poorest first.

But we have always wanted to do more, especially for those with modest occupational pensions and savings.

Redditch's 10,500 pensioners will benefit from:

l A rise in the basic state pension by £5 for a single pensioner and £8 for pensioner couples next year.

l The winter fuel payment - set at £150 for future years - will rise to £200 this year.

l From April 2001, the Minimum Income Guarantee will be £92.15 a week for a single pensioner and over £140 for couples. It will reach at least £100 for a single pensioner and £154 for a pensioner couple by 2003.

The Chancellor also gave help to motorists and hauliers with a freeze on fuel excise duties until April 2002 - equivalent to a 1.5p cut in duty - and a 2p duty cut in ultra low sulphur petrol, subject to detailed consultation.

He announced proposals to cut lorry VED from next year, with a transitional rebate this year, as well as a ''Britdisc'' system to ensure non-UK lorries pay their share for using Britain's roads.

Anybody with a car under 1500cc will now benefit from the £55 reduction in the cost of their tax disc.

And I was especially pleased to hear that even more extra money will go direct to schools for repairs.

I have my regular update meeting with first school heads this week and I will let them know the good news - first schools will be getting an extra £4,000-£7,000 over the next few weeks. Middle and high schools will receive between £10,000-£30,000 extra.

l I had a very enjoyable meeting with the Redditch Gateway group when I arranged a tour for them around the Commons last week.

They asked me some challenging questions about a variety of subjects, including Redditch town centre development and the availability of drug rehabilitation programmes.

I will be following up the queries on their behalf.