The Secretary of State for Business, Energy and Industrial Strategy (Greg Clark)
The measures taken in the Budget position Britain as one of the nations on earth that can take advantage of the extraordinary opportunities that are transforming every economy, every trade and every industry in the world. During the past few years, much of the economic debate has centred on two big subjects. The first is how to repair the economy from the ravages of the financial crisis and the previous Labour Government, when borrowing soared to 10% of national income and nearly one in every four pounds of what the Government spent was borrowed. Through eight years of fiscal discipline, involving sacrifice by the British people but backed in three general elections, the public finances have now been transformed so that this year borrowing will be not 10% but 1.9% of national income, and our national debt will fall in every year ahead, falling over the period of the forecast by over 10% of our national income. Sound money is the foundation of a sound economy, and the Conservative party has once again restored it to Britain.
Secondly, much of the recent debate has of course been about Brexit, and the Chancellor was clear that we are looking to secure a good deal with the European Union in the weeks ahead, and that achieving that will provide a further boost to the economy as growth will be revised upwards and, with it, revenues, jobs and wages. Our modern industrial strategy, reinforced by measures in the Budget, can see us enhance the prosperity of every part of the United Kingdom.
David Hanson (Delyn) (Lab)
The Secretary of State mentioned Brexit. Has he seen the Office for Budget Responsibility document that says that because of the uncertainty caused by his Government’s handling of Brexit, the economy was between 2% and 2.5% smaller by mid-2018 than it would have been otherwise?
Greg Clark
If, as I hope and expect, we secure a good deal, those figures will be revised upwards, with consequent benefits right across the economy.
This is one of the most exciting times in the history of business, technology, science and commerce. From farming to retail, from manufacturing to the creative industries, the analysis of previously unimaginable quantities of data is changing lives. Doctors can diagnose diseases and treat them successfully even before we display any symptoms. As Members with interests in the automotive sector will acknowledge, there will be more change in the cars we drive in the 10 years ahead than since the invention of the internal combustion engine, as electric motors replace engines and navigation by satellite and sensor replace human control.
Mr Jim Cunningham (Coventry South) (Lab)
As the Secretary of State knows, a lot of developments are taking place in the automobile industry, for example in Coventry on electric cars. He will also know that there are a lot of concerns in companies including Jaguar Land Rover in relation to the diesel tax on the one hand and Brexit on the other, and the Secretary of State has been very good in meeting us on those subjects.
Greg Clark
I am grateful to the hon. Gentleman for what he says. I am a regular visitor to the west midlands and to Coventry, and of course it is vital for one of our proudest and most successful industries that we should be able to build on that success by seizing the initiative in the years ahead. Every country in the world is moving to electric and autonomous vehicles and, including in the hon. Gentleman’s constituency, we have some of the best brains on the planet in developing that new technology. I am absolutely determined that we will not do what happened in the past—we invent the technologies yet see them deployed elsewhere—but that instead we will manufacture these batteries and these vehicles, and that we will do so in every part of the country.
Greg Clark
I will give way first to another west midlands MP, the hon. Member for Birmingham, Northfield (Richard Burden).
Richard Burden
Will the Secretary of State recognise the real concerns expressed to him by the automotive industry about the contradictory and confused signals coming out of Government in relation to fiscal policy and vehicle excise duty? Is there not something wrong when the system as it is at present penalises most the cars that are the cleanest and most CO2 efficient? In the next few months, as he and his colleagues consult the industry on the introduction of the worldwide light vehicle test procedure, will he ensure that such perverse incentives do not continue into the next financial year?
Greg Clark
The hon. Gentleman makes an important point. The next generation of diesel engines are much more environmentally friendly and fuel-efficient than their predecessors, so to replace an existing old-style engine with a new one is a step in the right direction, and I have been very clear, as I think he knows, that diesel will have a role to play as we transition to a 100% emissions-free world. That is captured in the “Road to Zero” strategy on which we consulted the industry, and I know that he was involved in those discussions.
Albert Owen
The Secretary of State talked about not losing our ideas. He will know that there are great ideas now in the marine energy technology sector, but they are at an early stage and companies need help and support before they can manufacture in this country. Will he have a word with the Chancellor so that we can have proper ring-fenced finance for this industry, as we had for wind energy under a Labour Government and for solar? Those sectors are now successful, but marine energy is lagging behind.
Greg Clark
We have an expanding innovation budget and we will have more to say about that in the weeks ahead, because our industrial strategy recognises the importance of seizing the opportunities that we have in clean growth, in which we are a world leader in many cases. I want to do with clean growth just what we are doing in the automotive sector, and marine and tidal energy is an important part of that.
Steve Double (St Austell and Newquay) (Con)
This is not just about manufacturing. If we are going to be successful, we are going to need the raw materials. As the Secretary of State will be aware, there is great potential in Cornwall for lithium mining, which will become ever more important with all the electric vehicles we are going to have. So does he share my enthusiasm for that potential, not just for the Cornish economy but in securing a domestic supply of this ever more important metal for the UK?
Greg Clark
My hon. Friend makes an excellent point, and it is his second chance in the space of an hour to talk about Cornwall’s place in our industrial future, whether through lithium for batteries or as a centre for the launch of satellites and space vehicles. He makes his case passionately, and of course we want to make sure we can source the materials for this new technology. Cornwall is a good place for that.
On clean growth, last year was the first time since the industrial revolution, forged in this country, in which a day passed in Britain with no coal being used to provide our power supply. This revolution is gathering pace, and the most exciting thing about these transformations is that Britain—British businesses, British scientists, British designers, British inventors, British workers—can lead the world in every one of them. Of the satellites that gather and transmit information for cars to navigate, a quarter—[Interruption.] I am surprised that the hon. Member for Newcastle upon Tyne Central (Chi Onwurah), who I thought had an interest in science and technology, would not want to acknowledge the fact that a quarter of all the communications satellites orbiting the Earth today were built in Britain. We have over half the entire world market in the booming small satellite market. As my hon. Friend the Member for St Austell and Newquay (Steve Double) pointed out to the Prime Minister today, we will have the first satellite launch pad in Europe. We are not just manufacturing and inventing the technology, therefore; we will be the go-to place to launch it as well.
Chris Ruane (Vale of Clwyd) (Lab)
The Secretary of State mentioned satellites. May I point out that 100% of the glass used in space technology and satellites around the globe is built in my constituency by Qioptiq?
Greg Clark
I did not know that, but I will add it to my repertoire of boasts about our national capability, and I am very pleased to learn it.
We are now the leading country not just in Europe but in the world for deploying offshore wind energy. The cost of production has fallen by half since 2015, and factories and jobs are springing up all around our coasts, from Belfast to Hull, from Machrihanish to the Isle of Wight. I see that my right hon. Friend the Member for Sevenoaks (Sir Michael Fallon) is present; he played an important role in setting the strategy that has resulted in that investment.
Also, having been the place where the genome was sequenced, we are the place where the secrets that it unlocked are being discovered and applied to the benefit of patients.
Our modern industrial strategy reinforces Britain’s future as a place of competition, innovation and challenge where new ideas can take flight and where any incumbent can be challenged by the newest start-up. Monday’s Budget pressed home the advantages and continued the progress we are making, including in addressing areas in which we need to improve. We have the biggest increase in public investment in research and development that this country has had in its history, with £1 billion more for the industrial strategy challenge fund.
Vicky Ford (Chelmsford) (Con)
This morning, leaders in genomics met in the House of Commons. They are world leaders based in Britain, and they told us how cures and treatments are being delivered to patients in the NHS today. Does my right hon. Friend agree that it is this Government’s investment in science and research that has led to us being a world leader in this area?
Greg Clark
I agree with my hon. Friend. I had a good meeting with the global chief executives of some of the most important life sciences companies around the world, in which it was readily acknowledged that the strength of our science base, and the visibility of our commitment to reinforce it, to invest in it and to apply it in manufacturing, is causing investment to be made here. The global pharma and life sciences company MSD has announced that its new research centre is going to be here in the UK, and I had the pleasure of opening the Novo Nordisk facility just a few months ago. It is evident that there is more to come. One of the benefits of a long-term strategy and commitment is that it can have short-term results because people invest on the back of it.
Daniel Zeichner (Cambridge) (Lab)
The Secretary of State is talking positively about the future of the life sciences sector, but does he recall that just last week the head of the Association of the British Pharmaceutical Industry told the Select Committee on Exiting the European Union that without full membership of the European Medicines Agency, the future of the life sciences industry was not tenable in this country?
Greg Clark
I do not agree. I think that the future of the industry is strong in all scenarios. I regard our ability to participate in institutions and research networks as being of great importance, and that is why I hope that the deal that is being negotiated will succeed and that we will be able to move forward based on that confidence.
Kevin Hollinrake (Thirsk and Malton) (Con)
Does my right hon. Friend welcome our ranking in the climate change performance index? The UK is fifth in that index, ahead of Finland, France and Germany.
Greg Clark
I do recognise that. The combination of a rigorous commitment to emissions reduction targets and an industrial strategy that makes it possible for us to glean the benefits of that is being admired by many countries around the world.
Mr Simon Clarke (Middlesbrough South and East Cleveland) (Con)
Does my right hon. Friend agree that carbon capture, utilisation and storage has enormous potential? I had a meeting with the Carbon Capture and Storage Association this morning, in which it emphasised clearly that a development pathway in 2019 would have enormous benefits for our ability to deliver a net zero target by mid-century.
Greg Clark
I agree with my hon. Friend. That is a good example of how a strategy to integrate different strands of policy and work can be of great benefit to many of the industries on Teesside that he represents so well. We will have more to say about that.
Building on the success of the Faraday challenge, which aims to make Britain a place for the design and manufacture of new battery technologies, the Stephenson challenge referred to in the Budget will support innovation in electric motors. We are emphasising the “D” side of R&D: development as well as research. The “Made Smarter” review, which was championed and led by Juergen Maier, the chief executive of Siemens in this country, is spreading the take-up of new manufacturing technologies to businesses small and large. A national quantum computing centre will scale up quantum systems into workable machines. An industrial energy transformation fund will help many energy-intensive businesses to reduce their energy costs as they transition to a low carbon future, at the same time as making them more competitive.
New fellowships in artificial intelligence will attract the world’s best research talent to our shores, building on our success with institutions such as the Turing Institute. On infrastructure, the Budget ensures that the digital revolution will extend to all parts of the country, through new funding for new ways of deploying full fibre broadband in rural locations.
John Howell (Henley) (Con)
The one thing that goes across all the areas that my right hon. Friend has been talking about is our investment in fusion technology. He might be about to say something about that, but I was really pleased to see £20 million being given to that area in the Budget. Will he confirm that the Euratom issue is now over, and that we can look forward to a successful fusion technology industry continuing in this country?
Greg Clark
I am grateful to my hon. Friend for his question, which gives me the chance to confirm that there will be £20 million of investment—and it is investment—in the centre of excellence in fusion research. It will pay dividends for many years to come. The discussions on the successor arrangements to Euratom have gone as I hoped they would—that is, cordially and expeditiously—and good progress has been made on all the issues under discussion. We have made the necessary agreements with most of our major counterparts.
On places, the Budget announced extra funding for the Strength in Places fund, supporting local collaborations between business and research across the UK. This was also an important Budget for Britain’s small businesses. Extending the start-up loans programme will help more aspiring entrepreneurs to take the plunge. Further funding for the knowledge transfer partnerships will place graduates in smaller firms across the United Kingdom. The fivefold increase in the annual investment allowance will help to support firms as they invest and grow, and the £1.5 billion boost to small high street retailers, including £900 million in business rates relief, will support small businesses right across the country.
Ellie Reeves (Lewisham West and Penge) (Lab)
The post office in our high street has been downgraded from a Crown post office and its services are being reduced. Our retailers in our high street are worried that this will mean fewer people coming into the community. What can the Minister say to reassure the retailers in our high street?
Greg Clark
One of our proudest achievements in Government has been to halt the destruction of the post office network—[Interruption.] It is substantially the same in numerical terms across the country as it was when we came into office. That is very important, for exactly the reason that the hon. Lady has set out. Post offices are crucial to many high streets and to the many small businesses that make use of their services.
We are in the early days of a period of spectacular opportunity for Britain. The truth is that none of the achievements that are within our grasp would be possible without the willingness of investors and entrepreneurs to take a risk in backing new ideas.
Jamie Stone (Caithness, Sutherland and Easter Ross) (LD)
Notwithstanding the attractions of Cornwall, the vertical take-off site for the UK is going to be in my constituency, and I would be churlish if I did not express my thanks to Her Majesty’s Government for that decision. In Caithness, we have exactly the kind of skills and knowledge in Thurso and Dounreay that the Secretary of State is referring to. Will the Government ensure that those skills and that knowledge are transferred and used to boost the laudable scheme for the space launch in my constituency?
Greg Clark
I am glad to hear that from the hon. Gentleman. I had a great visit to his beautiful constituency and he is right to say that it has skills that can be deployed in the space industry now. It also has the opportunity, working with local colleges, to develop and grow the skills that the space industry will need if it is to create good, well-paid jobs there in the future. This decision is great news for the north of Scotland and for the whole of the United Kingdom.
Stephen Kerr (Stirling) (Con)
I welcome the £200 million more that is to be given to the British Business Bank as part of the Budget, and also the announcement that a team from the bank is to be based in Scotland. The Secretary of State knows that I have an ongoing concern about the availability of quality patient capital, especially for small and medium-sized enterprises. What is his assessment of the current availability of that kind of capital?
Greg Clark
My hon. Friend highlights a piece of advocacy that he has made personally and as a member of the Business, Energy and Industrial Strategy Committee to ensure that we give growing businesses the ability to expand. That investment by and through the British Business Bank, particularly through its regional focus on Scotland, Wales and Northern Ireland, is very important. It should be close to the people in whom it is investing.
By investing in new equipment and employing new people, it is businesses that create jobs, not the Government. Businesses provide people with the earnings they need to live good lives. After the family and education, it is businesses that provide most of us with the best opportunity to develop and make the most of our talents. It is businesses that pay for every single one of our public services, both directly and by employing people. Governments cannot do such things, but they can stand in the way. There is no successful society anywhere in the world that is not based on successful businesses.
However, at a time when we need national determination to invest in future business success through a long-term approach, we have an Opposition whose would-be Chancellor describes business as the “real enemy”. A month ago in Liverpool—a city that drove out business when the hard left last seized power, taking a generation to recover—a chilling warning was sounded to the world: “If you dare to invest in Britain, 10% of your value will be seized forever without compensation. You’ll be taxed at the highest level in the peacetime history of this country. You’ll be trapped in a nightmare economy where, at a stroke, the state goes a third of a trillion pounds more into debt. The would-be Government fully expect a run on the pound and capital flight.” Whatever uncertainty there is over Brexit, businesses tell me time and again that their biggest nightmare would be to have the Leader of the Opposition and the shadow Chancellor in Downing Street.
The choice could not be clearer. Britain has the chance to be in the vanguard of the most exciting developments in the history of global commerce and innovation, or to be shunned by investors as one of the most left-wing, anti-enterprise, ruinously indebted nations in the developed world. The aim of this project is to build a country in which our children and grandchildren can look forward with confidence to ever-stronger security and ever-growing opportunity. That choice has never been more vital for Britain, and I commend the Budget to the House.
The Exchequer Secretary to the Treasury (Robert Jenrick)
This Budget demonstrates yet again that careful stewardship of the economy and meeting serious challenges in a serious way, thereby creating an environment for wealth creators to succeed, is always the right course. Now, the hard work of the British people is paying off. We see that in the record numbers in employment, with 3 million more jobs since 2010. We see it in rising real wages, with the fastest rises in real pay among the lowest paid in society. Above all, we see it in our strengthening public finances.
We see in the Budget how a stronger economy enables us to support the NHS, which will receive, as my hon. Friend the Member for Chelmsford (Vicky Ford) said, that record-breaking £20.5 billion real-terms per-year increase. Furthermore, a stronger economy has enabled us to cut taxes and to freeze the important duties—whether on fuel, spirits or beer—so that millions of people throughout the country can enjoy more of the money that they have earned. Those achievements did not fall into the Government’s lap—apologies to the Chief Secretary—they were hard won by the people of this country, and we will not be complacent. This is an optimistic, future-facing Budget, and a Budget for economic growth.
Having listened to much of the past three days of Budget debate, I could summarise the contributions from Opposition Members as wanting more spending and higher taxes. With some notable exceptions, they have had very little to say about how we grow the economy and create wealth. When asked recently, the shadow Chancellor, the right hon. Member for Hayes and Harlington (John McDonnell), could not name a single businessperson whom he admired. We on the Government Benches understand that behind every business is a story worth knowing—that cafés and gyms and restaurants do not come out of nowhere. We respect and admire these people, and this Budget is for them.
The Federation of Small Businesses, the CBI, the retailers, the convenience stores, the pubs, the oil and gas industry that supports so many thousands of jobs in north-east Scotland, and the manufacturing groups such as the EEF all support the Budget. Of course there are challenges. Of course we are in a moment of high uncertainty as we enter a pivotal stage in the Brexit negotiations, but each of those groups—and more—that I have spoken to since the Chancellor sat down believed that we were listening to them and acting. We are delivering for businesses and job creation throughout the country.
As my right hon. Friend the Member for Sevenoaks (Sir Michael Fallon) argued at the beginning of the debate, the Budget recognises that the UK has to pay its way in the world. It must be an attractive place for people to invest. To ensure that it is, we have cut corporation tax from 28% to 19%, and receipts have risen by 55%. We have reaffirmed the incentives for entrepreneurs that are attractive for people—including those in the constituency of the hon. Member for Hampstead and Kilburn (Tulip Siddiq)—who come here from all over the world. They are attracted here because it is a great place to create businesses, and that is driving the unicorns and tech businesses of this country.
We are extending the start-up loan scheme, and as we have already heard, we have increased the annual investment allowance from £200,000 to £1 million. We have listened to manufacturing businesses, particularly in the midlands and the north, that want to invest in plant, machinery and digital technology. This is about not just the sexy technologies that we heard about earlier but ensuring that manufacturing in this country can continue to thrive.
For working people, we are increasing the national living wage from April and thereby contributing to rising real wages, and we are giving a tax cut to 32 million people throughout the country by increasing the personal allowance and the higher-rate threshold. As we heard at Prime Minister’s questions, it is still unclear whether the Labour party supports that tax cut. The shadow Chancellor reluctantly says he agrees with it, the shadow Foreign Secretary, the right hon. Member for Islington South and Finsbury (Emily Thornberry), says otherwise, and the Mayor of Greater Manchester says that shadow Chancellor’s views send a shiver down his spine—and that was before Halloween.
We believe that everyone in this country should pay their fair share of tax. There are measures, which we have heard about from right hon. and hon. Members in this Budget debate, to continue to close the tax gap. It is at a near record low, and lower than it was in any year of the previous Labour Government. This Budget does create the world’s first digital services tax.
Mr Kevan Jones
On a point of order, Mr Deputy Speaker. We have had a very good debate this afternoon, and there have been some great contributions from all parts of this House. Members can call me old-fashioned, but I thought that the role of the Minister replying to the debate was to address the issues that have been raised in this debate. He has now been on his feet for nearly six minutes, and apart from some reference to two Conservative Members, he is making just a general speech, which he could have done in an opening speech.
Mr Deputy Speaker (Sir Lindsay Hoyle)
The Minister has got time to address the issues, and I am sure that that is where he will take us now.
Robert Jenrick
That was unfair, because I am addressing the points that have been raised by Members from all parts of the House. [Interruption.] The right hon. Member for North Durham (Mr Jones) may not like the answers, but I am providing them. With respect to the digital services tax—it is a tax that has been mentioned by numerous Members across the House—we are the first major country to do this, and it will raise in excess of £1.5 billion, ensuring that, in our thriving economy, our tech-friendly economy, those who generate value from UK users will pay a fair contribution to tax. We look forward to publishing more information and to the consultation on that, which, clearly, hon. Members may wish to take part in.
We chose in this Budget to invest in the long-term economic infrastructure of the country—a subject that has been raised by a number of my colleagues—raising investment levels in this country to the highest sustained level in my lifetime. That is the mark of a mature economy, which is not just spending everything on immediate consumption, but spending money for long-term investment. Public capital investment in this country will be £460 million a week higher under this Government than it was under the previous Labour Government. We have heard some of the ways that we will spend that. We will spend it by increasing investment in our roads—in every type of road. A number of colleagues from across the House—
Robert Jenrick
Well, there was my hon. Friend the Member for Chelmsford (Vicky Ford), for example. She made a representation for the Chelmsford flyover, and we will deliver on that. Let me say one other thing in response to the right hon. Member for North Durham: we listened to those Labour Members who came to see us at the Treasury with genuine representations to grow the economy, but they were few and far between. There was the hon. Member for Bassetlaw (John Mann), for example, and we responded to his requests—[Interruption.]
Mr Deputy Speaker
Order. Mr Jones, you are testing my patience. You did say, “Call me old-fashioned”, well, old-fashioned usually has values with it, and you are not showing the best values right now. Come on, Minister.
Robert Jenrick
We are investing in a whole range of different infrastructure projects, which will make a huge difference to the future of this country, from the productivity pinchpoints to investing in potholes. We did hear from a number of Members today a slightly snobbish attitude to investing in potholes, but these things matter to ordinary people. They matter to people in my northern constituency of Newark. They matter to people in Walsall, in Halesowen, in Stoke-on-Trent, in Mansfield and in towns that we have heard about here and, in fact, in towns across the whole country, including in the right hon. Gentleman’s constituency.
Robert Jenrick
In North Durham. [Hon. Members: “Ah!”] Yes, there you go. Incidentally, the last time that the right hon. Gentleman and I sparred was over cleaning up illegal waste sites.
Robert Jenrick
Well, you have not read the Red Book, because we put £10 million—[Interruption.]
Mr Deputy Speaker
Order. It might be helpful if you both addressed the House without having a personal debate between the two of you. Come on, Minister.
Robert Jenrick
We have heard in this debate that this is a Budget for high streets and town centres. With great respect, the hon. Member for Newcastle upon Tyne Central (Chi Onwurah) said that we had borrowed one point of the Labour party’s five-point plan for the high street, and that is true, we did—we are committing to pilot a register of empty shops—but we looked at the other four points in the plan and, frankly, they were thin gruel. We decided that we could do better, and we have.
We are providing a 30% discount to small businesses, affecting 90% of our retailers across the country, and we have created a £675 million future high streets fund—a competitive fund for people across the House and across the country to bid into to secure between £5 million and £25 million to transform their towns. I was surprised that Opposition Members repeatedly criticised the idea of having more homes in town centres, because that is not what the public say. We want vibrant communities in our town centres, and we want to make it cheaper and easier to create shops, workplaces and homes there.
We also heard about great ideas in the Budget. We have to grow the economy in all parts of the country. For example, we heard from my hon. Friend the Member for Middlesbrough South and East Cleveland (Mr Clarke) about the special economic area that we are creating in Teesside, working in partnership with the hon. Member for Redcar (Anna Turley). That has the potential to transform investment in that area.
Anna Turley
Will the Minister say a little more about what this economic area is? If it is just keeping business rates locally, local authorities will be able to do that next year anyway. Will he indicate a bit more what it will be exactly and what it will mean for the clear-up of the site?
Robert Jenrick
I am happy to give the hon. Lady further details. We shall provide business rates retention, and we promised that in the spending review we shall consider whether it is possible to enhance the capital allowances. We have provided £14 million up front to ensure that two plots of land on the site are remediated so that jobs and investment can come in as soon as possible.
We have also announced new university-linked enterprise zones and a competition for more development corporations, starting with one we announced a month ago at Toton in the east midlands. We made an announcement about realising the potential of the Oxford-to-Cambridge arc of opportunity, with a new expressway and railway linking Oxford and Cambridge, and I am sure that the constituency of the hon. Member for Cambridge (Daniel Zeichner), with whom I have spoken about it on a number of occasions, will benefit.
In Coventry, we will support the automotive sector. We are in regular conversation with JLR about the issues described by the hon. Member for Coventry South (Mr Cunningham). In the Budget, we announced funding not only for Coventry as city of culture but, at the request of Mayor Andy Street, for a centre for autonomous vehicles in the city, which I hope will build on the great reputation of the automotive sector.
Robert Jenrick
With great respect, I shall not give way. I apologise, but there is not enough time now.
The Secretary of State said in his opening remarks that this is a Budget for skills, innovation and progress. We believe that this is an exciting time to be alive. We want to support innovation to drive the economy forward. We are investing £1.6 billion—
Albert Owen
On a point of order, Mr Deputy Speaker. The Minister said that he was responding to the debate, but three Members from north Wales raised the bid for the north Wales growth deal. The Chancellor only mentioned Wales twice in his Budget, although the Minister said that it was for the whole United Kingdom. Will he address some of the points made by some of the Members from Wales?
Mr Deputy Speaker (Sir Lindsay Hoyle)
I can assure you that that is not a point of order, but you have got it on the record.
Robert Jenrick
I am happy to speak to the hon. Gentleman later, but time does not allow now. As he knows, the Budget does commit to a north Wales growth deal. I shall be happy to discuss that further with him.
To conclude, this is a Budget that looks to the future. It is optimistic about our economic potential. It invests in the science and innovation that will drive the economy forward in the years ahead. We have a choice: either we can follow the tired ideas of Opposition Front Benchers, pursuing policies that we know have failed in the past, a ship sailing on yesterday’s wind, or, like Conservative Members, we can look to the future with confidence, and we can champion entrepreneurship, innovation and the wealth creators in society. This is a Budget that seeks to inspire a new generation to succeed, to excel and to prosper, with policies that will make the economy and the country stronger. I urge Members in all parts of the House to support the Budget in the Lobby tomorrow.
Ordered, That the debate be now adjourned.—(Mike Freer.)
Debate to be resumed tomorrow.