Budget Resolutions

Debate between Ben Maguire and Martin Wrigley

Wednesday 6th November 2024 Commons Chamber

[Martin Wrigley (Newton Abbot) (LD)]

We know that growth comes from investing in productivity and skills, and I, too, welcome the £22 billion for the NHS. Long-term public investment is essential for the security and stability that the UK needs. However, we heard about the issues relating to employers’ NI contributions, which will hit doctors, dentists, care homes and local hospices, adding a significant amount to their annual cost base per employee.

There is also pressure on voluntary, community and social enterprises. In my district, Teignbridge Community and Voluntary Services tells me that the sector employs some 3% of the local population, who are now all subject to the NI increase. Although it is better than nothing, the business rates reduction from 75% to 40% will disappoint local retail, hospitality and leisure businesses—not forgetting the inheritance tax threat to Devon’s family farms. There is nothing in this Budget for social care, for Devon’s crumbling hospitals or for Devon’s essential transport.

[Ben Maguire]

Bank shares are soaring following this Budget. Does my hon. Friend agree that the Liberal Democrat proposal to reverse the Conservative Government’s cut to the big bank levy, raising around £4 billion a year, would mean that we would not need the GP tax, the family farm tax or the winter fuel cut and that we could fund upgrades to the Treliske, Derriford and North Devon hospitals—