Chop the onion, carrots and red pepper into small cube-sized pieces. Chop the garlic clove into very small pieces and warm the stock.
In a large saucepan over a medium heat, add 1 tbsp of the butter and the olive oil and melt together. Once melted, add the garlic, red onion, carrot and red pepper pieces. Cook together for 3-4 minutes. Add the arborio rice and stir continuously for 1 minute.
Begin to add the stock, one ladle at a time. Your risotto does not need to be continuously stirred but it does need stirring regularly to help the rice absorb all the liquid, to not stick to the bottom of the saucepan and to become nice and soft. Once one ladle of liquid has been absorbed, add another and repeat until 3/4 of the stock has been added.
Try the risotto to see if you need to add a little salt or pepper, and to check the rice is soft all the way through.
Keep adding stock until the rice is soft. Once all the stock has been absorbed and the rice is cooked, add the frozen peas and sweetcorn, the remaining 1 tbsp of butter and all of the grated Cheddar and stir continuously for about 2 more minutes.
Turn off the heat, cover with a lid and leave for 2-5 minutes, to ensure the risotto is really oozy and delicious before serving.