Cost of Living Increases

Angela Richardson Excerpts

Tuesday 25th April 2023 Commons Chamber

[Angela Richardson (Guildford) (Con)]

Thank you for calling me to speak so early in this debate, Mr Deputy Speaker.

The fact is that unprecedented international conditions have led to instability in our economy. Given the global world in which we live, any international crisis can and will have an impact at a national level sooner or later. I am proud that the UK has long been at the forefront of work to forge an international system characterised by stability and co-operation. This Government have always taken very seriously their responsibilities as a member of the G7, the G20 and the Commonwealth of Nations. This Government proudly took on the leadership of COP26 and rallied the world’s Heads of State and Government to take action on climate change.

Despite all those commendable efforts, there are some things that this or any other Government cannot predict or control. The Government cannot predict when a potentially deadly virus will cause a pandemic; they cannot control when a dangerous autocrat marches his troops into a neighbouring country; and they most definitely cannot control the weather. However, when listening to the Labour Front Bencher’s speech, one got the sense that had Labour been in power there would, magically, have been no pandemic, war or adverse weather. The public are listening and they are not stupid. They have experienced those things with us and they will not be taken in by what the Opposition say.

From the covid pandemic to Putin’s senseless war in Ukraine, and bad weather conditions in north Africa and Spain, this Government have been tested time and again. Our constituents across the country are feeling the squeeze caused by those events, but this Government have been there to help them deal with the burden of high energy bills, soaring inflation and uneven food availability. Actions always speak louder than words, and the actions of this Government are clear: we have provided £94 billion in cost of living support, helping the most vulnerable in our society; the energy price guarantee has been extended for three months; and three cost of living payments totalling £900 are going directly into the bank accounts of those on means-tested benefits, starting today.

But what about the words? The words of Labour’s motion are nothing but a smokescreen for its past and present lack of grip on the economy. The party that casually left a note saying that there was “no money left” now criticises the Conservative Government who have grown our economy at a faster rate than those of France, Japan and Italy since 2010, and at the same rate as Germany since the Brexit referendum. The party under which youth unemployment rose by nearly 45% criticises the party under which the total unemployment rate has fallen to a near 50-year low. When it comes to the economy, it is only the Conservative party that the British people can trust. The Labour party has never left government with unemployment lower than when it took office or with the economy on a better footing.

Even in opposition, Labour advocates for the same disastrous recipe of unfunded spending commitments and yet more borrowing. So far, the bill that Labour would saddle taxpayers with stands at £90 million in spending commitments that are plucked out of thin air—that is roughly £3,000 per household. All that comes with a good serving of borrowing, to the tune of £28 billion each year until 2030.

Going back to the motion before the House, I advise the Labour party to get on with understanding the people’s priorities and how the economy actually works. Labour should stop using the non-dom tax status as a cheap political attack under the guise of economic policy and stop going on about a windfall tax, which this Government introduced last May and increased as part of the autumn statement last November.