Budget Resolutions

Ben Spencer Excerpts

Wednesday 30th October 2024 Commons Chamber

[Rishi Sunak]

I am sure that those on the Government Front Bench were wanting to explain to the young couple in their constituencies saving to buy their first home that their taxes are going up, and to the family wanting to pass on their farm or their business to their children that their taxes are going up. The parents sacrificing to give their kids the best start in life: your taxes are going up. They are taxing your job, they are taxing your business, they are taxing your home, they are taxing your savings. I said during the election campaign:

“You name it, Labour will tax it”,

And that is exactly what the Government have done, with broken promise after broken promise and working people paying the price.

For the final time from this Dispatch Box, let me deliver some basic truths. A Government can foster growth, but they cannot magically conjure it up. We need businesses, workers, investors and entrepreneurs to all back this country and build our economy. It does not matter whether your income comes in a pay packet, from investments, in dividends or in profits. It is a poor politics that is so focused on what people receive that it fails to see that what matters is what people put in. The only way to grow the economy and to create wealth is for people to put in more, so when you create a negative environment for business, when you undermine confidence in our country, when you vilify and penalise people for doing exactly what we need them to do, which is to invest, take risks and work hard, you do not create growth; you hold back growth—and more than that, the promise of growth tomorrow does not pay the bills today. This is not the first Government to peddle the “borrow to grow” myth, but time and again we have seen the same ending: not higher growth, but higher debt, higher inflation, and higher taxes.

But, Madam Deputy Speaker, whatever you think about the economic arguments surrounding today’s Budget, there is a more fundamental point with which I want to conclude. The Prime Minister has talked relentlessly about trust, yet today’s Budget reveals above all that those in the Labour party did not tell the truth. They said they would not fiddle the figures; they have. They said they would not increase borrowing; they have. They said they would not raise taxes on working people; they have. There has been broken promise after broken promise, and it is the working people of this country who will pay the price.

[Dr Ben Spencer (Runnymede and Weybridge) (Con)]

On a point of order, Madam Deputy Speaker.

[Madam Deputy Speaker (Ms Nusrat Ghani)]

It had better be a genuine, relevant point of order.

[Dr Spencer]

I wonder if you could give me some advice, Madam Deputy Speaker, because I fear that the Chancellor may have inadvertently failed to declare an interest. She spoke a great deal about working people during her speech. Is she a working person, and should she declare that? Or maybe she isn’t.

[Madam Deputy Speaker]

That was not a relevant point of order, and it will be noted in case the hon. Gentleman wishes to put forward any further points of order. I now call the Chair of the Treasury Committee.

--- Later in debate ---

[Dr Ben Spencer (Runnymede and Weybridge) (Con)]

It is with sadness that I rise to speak in this debate on the Budget of broken promises. During the election campaign, I heard from many constituents about how they felt regarding their disillusionment with our political system. They feel that Westminster seems to talk only about itself, does not represent them and at times treats them like fools. This Budget damages our democracy in the contempt with which it treats our voters.

For the past few months, my constituents have been hearing from the Government that everything is going to be awful and this is going to be a punishment Budget, and they have been awaiting it with trepidation. They have heard that when the Labour party came into power, it discovered things it was not expecting, so it had to announce winter fuel payment cuts—despite the fact that it had been talking about doing so in this place for some time. Labour has said that it has to make difficult decisions but that it will stick to all its promises, but—hey!—it turns out that it can pull out various loopholes that it had carefully weaved into its manifesto.

That is one of the reasons why over the past few weeks we have seen this incredible debate about what a “working person” is, which so far has been pure and utter sophistry. It appears that that is what so much of this Budget debate turns on, so what is a working person? Certainly, I would say I am a working person; people here are working people, for the most part. The majority of my constituents are working people, or had been until they started claiming a pension, and that needs to be respected.

Since the Chancellor said that there would be no tax rises on working people, this question has led to a great degree of confusion as we go through the Budget. Is a business owner, or someone who works as a tradesman, not a working person? Ironically, Labour says it wants to fix the foundations of the country, but I wonder where it is going to get the tradespeople to do so. How about people who save for their future? Are they not working people? How about our pensioners? Have they not been working people? How about people who use the bus? Are they not working people?

Thankfully, today I got an email from the TUC, which helped clarify who working people are. It pointed out that the TUC are the ones who represent working people. I think our constituents all know that unless they are a trade union member or someone who is dependent on the state, the Labour party does not think they are a working person, and it is coming for them. [Interruption.] Well, look at the tax rises. When Government Members start digesting the Budget—when they look at the impact of an extremely low growth rate over the next few years, the impact on farmers, who will struggle to pass on their farms, and the impact on small businesses, which we depend on for growth, investment and prosperity —they will regret what has been said today.

I was sad that the south-east and Surrey were not really mentioned. [Interruption.] Labour Members laugh, but they would do well to consider that Surrey is the biggest net contributor to the Treasury outside London. The Chancellor would do well to listen to Surrey MPs about the investment that we need in local infrastructure so that we can continue to provide money to the economy for the ambitions of us all. In my constituency, that means confirmation of support for the Weybridge health centre rebuild, fixing our level crossings and motorways, and rebuilding the Magna Carta school.

The Government had an opportunity with this Budget, and they have missed it. They have chosen duplicity over delivery, politics over pragmatism and sophistry over service.