Budget Resolutions and Economic Situation

Anthony Mangnall Excerpts

Wednesday 3rd March 2021 Commons Chamber

[Anthony Mangnall (Totnes) (Con)]

It is always a pleasure to follow my friend, the hon. Member for Strangford (Jim Shannon), who spoke such sense. I can only hope that others who sit on the Opposition Benches will follow his lead.

Of course I welcome this Budget, and I welcome the way in which the Treasury has engaged with businesses and with Members on both sides of the House to hear what needs to be done at a time of great national need. The Chancellor, as other Members have said, has acted responsibly to ensure that our fiscal and financial firepower is able to adapt and be resilient in future years, but he has also been responsible, ensuring that, when we see the road map unveiled and businesses are able to unlock at the end of June, they can do so with the certainty that the Government are there to support them.

The move to extend the 5% VAT cut, on which I am sure I have annoyed the Treasury on a number of occasions, is a welcome step. More importantly, the improvement of a sliding mechanism to 12.5%, providing that certainty for businesses, is also very welcome. In seats such as mine, where tourism and hospitality are so integral to our local economy, it will make all the difference for those businesses that have faced over 200 days without customers or service. It will make the difference, and the same can be said for the provision on business rates.

One overlooked group has been young people. I know that the Chancellor has bonded with young people recently by saying that he is a Coca-Cola addict. Well, this Budget goes further. It also makes the point that, to ensure we have productivity and growth in future years, we are able to provide the opportunity for young people to find the jobs they need, get the training they want and get the support that they need in the economy not just in London, but across the entire United Kingdom. It is particularly welcome to hear about work coaches, the kickstart scheme, the life skills guarantee, and encouraging and incentivising further apprenticeship schemes. That is extremely welcome, but I hope we can go further. Since organisations such as the National Union of Students seem incapable of doing so, we must stand up for university students who have over-paid for essential Zoom lessons over the last 13 months.

Lastly, it is particularly welcome to see a free port being designated in Plymouth and south Devon, not just for Plymouth itself but for the surrounding area. For those hydrographic and oceanographic companies that manufacture in my patch, and for those companies that can export the very best produce of south Devon, this will make a huge difference. It is an example of levelling up across the whole country and our commitment to providing opportunity in every region of the United Kingdom of Great Britain and Northern Ireland. I hope that the Opposition will recognise that this is a Budget that is fiscally pro-business and will deliver for generations to come.