Taxes

Debate between Ben Spencer and Jerome Mayhew

Wednesday 12th November 2025 Commons Chamber

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

One thing that this Government are really good at is creating a feeling of fear and worry, particularly among my constituents. They are looking at what has happened to them as a consequence of decisions that were taken in the last Budget. I am talking about people from all walks of life, across the board—people who employ people, people who are employed, people who work in hospitality and people who work in the charities sector, who have had to make very difficult decisions as a consequence of the impact of the last Budget.

[Jerome Mayhew]

We have talked about the fear that our constituents have, but there is another fear held by businesses. My hon. Friend will know that business confidence has plummeted to the worst level on record, and investment decisions taken by businesses have been delayed because businesses are worried about the impact of this terrible Budget that we are facing. Does my hon. Friend agree that the speculation fuelled by the anonymous briefings from No. 11 are already damaging our economy?

[Dr Spencer]

I thank my hon. Friend for his intervention. That was pretty much what I was going on to say. We are seeing this constant kite-flying about various different potential taxes or cooked up schemes that could affect different walks of life, as the Government are trying to keep meeting their burgeoning and ever-growing spending commitments. That is making people lose confidence, and it has a real impact on the decisions they are making here and now, even without the policies having been enacted. Like it or not, the Budget on the 26th is already here and operating. It is operating through the media, and people are making decisions now that are having a real impact, particularly in my patch.