(8 months, 1 week ago)
Commons ChamberI am very sorry to disappoint my hon. Friend, but Chancellors never comment on decisions made by the Bank of England on interest rates. What I can say is that the Office for Budget Responsibility predicted at the Budget that inflation would fall to around target in the next few months. That gives the best possible prospect of interest rates starting to fall.
Last night on BBC’s “Newsnight”, it was clear that the needs of Wales, in particular on health, are not met in the UK. When has the UK Government ever given England Barnett consequentials based on needs in Wales, Scotland or Northern Ireland? Surely the model of spending under which the Government in England decides for England, and everyone else gets a consequential of that, must end. Nordic countries do not calculate spend as a percentage of their neighbours’ spend. Why is the spending of Scotland, Wales and Northern Ireland dependent on what England decides to spend?
(1 year ago)
Commons ChamberI have a very small bone to pick with my right hon. Friend, because when I became Chancellor I was hoping to say that I was the first Chancellor who was once an entrepreneur, but he pipped me to the post. However, he is absolutely right to say how important it is to have competitive business investment taxes. I was very proud in the spring Budget to introduce full expensing for three years, which gives us some of the most competitive business taxes in the OECD. Only five other countries do that, and I will of course keep under review any possibility to extend that tax break.
Is investment not needed in the UK given that 13 years of Tory rule have resulted in a £137 billion UK deficit? Meanwhile independent Ireland has a €10 billion surplus from its economic growth and investment. That is an Ireland without the oil or natural resources of Scotland, which is now about to start a sovereign wealth fund. Where did the failing crisis-hit UK go wrong and independent Ireland go right? The clue, by the way, is in the question.
I find that a very curious question. If the hon. Member is proud of Scotland’s natural resources, why does he want to cancel North sea oil and gas exploration, which is the very thing that can give families across the United Kingdom security from the energy shocks we have seen from things such as the invasion of Ukraine?
(1 year, 9 months ago)
Commons ChamberMy hon. Friend is entirely right. It is because we took difficult decisions to reduce the deficit by 80% in the period leading up to the pandemic that we were able to allocate £400 billion of help to families and businesses during the pandemic and £99 billion to families during the energy crisis, which means an average of £3,500 per family this year and next. There is a phrase for that: it is “fixing the roof while the sun is shining”.
A plethora of economic statistics highlight UK inequality and how it affects households. In Ireland, the poorest 5% of the population are 63% richer than their equivalents in the UK. In France, the lowest-earning third earn 20% more than their UK equivalents, while the middle-income third earn 25% more. Low-income households in Germany are 21% richer than those in the UK. No wonder the workers are striking! Why are the Government maintaining a system that keeps workers in the UK poorer than their equivalents in France, Germany and Ireland? Why are they not paying the workers, and why are they not sorting out the strikes?
That is exactly why we are taking difficult decisions to give this country a high-skill, high-wage economy—measures that the Scottish National party opposed at every step.
(2 years ago)
Commons ChamberAbsolutely, because the NHS as it stands at the moment would fall over without the brilliant contribution made by doctors and nurses born or trained overseas. I think it is about 24% of doctors in the NHS at the moment. We always welcome international exchanges, but in the end a huge health organisation such as the NHS—the biggest health organisation in the world—should be training the number of doctors and nurses that it needs itself. With a 2 million shortage of doctors worldwide, there is no other alternative.
It is funny that the same Tories, who are today congratulating the Chancellor, 55 days ago lined up to congratulate his predecessor on the disastrous mini-Budget of what he correctly described as the “English Government” —a sign of things to come. However, the question that is being asked by people in Lewis, Harris, Uist and Barra is: when exactly are the Government paying the off-grid fuel support for the likes of those with central heating oil? It is now mid-November. We need the dates, and we need this to happen.
We do, and we are working on that. We will make sure it is paid as quickly as possible.