Autumn Forecast

Bill Esterson Excerpts

Monday 29th November 2010 Commons Chamber

[Mr Osborne]

We avoided the increase in the small companies rate that the previous Government wanted to introduce even in a recovery. We have been able to avoid the damaging part of the jobs tax. Of course, my hon. Friend is absolutely right. The forecast in this report and the forecast from many other people is for jobs to be created in the private sector across the country, including in the north-west—a part of the country that both of us represent in the House. Frankly, one can see again today that the Labour party wants to talk down the economy, does not believe independent forecasts and talks down the regions. It is no wonder that people rejected it at the election.

[Bill Esterson (Sefton Central) (Lab)]

Was the Chancellor talking a “complete load of nonsense”, as he put it earlier, when he said:

“Look and learn from across the Irish Sea…What has caused this Irish miracle, and how can we in Britain emulate it?”

Does he recognise that a private sector recovery has not happened in Ireland? Why should following the same policies be any different here?

[Mr Osborne]

If the hon. Gentleman cannot tell the difference between the economic situations in which Britain and Ireland find themselves today perhaps he should not turn up to these events.

I just make this observation. This is an independent report, produced by Robert Chote. [Interruption.] I have had a lot of chuntering from Opposition Front Benchers about the independence of the Office for Budget Responsibility. We set it up on an independent basis and we have given all members of the Treasury Committee the right to approve or reject the members of the budget responsibility committee. We will see whether Opposition Members, including Front Benchers, support this legislation when it comes before Parliament. At the moment, it does not sound as if they will support it, but perhaps they will change their minds.