Taxes
Debate between Charlie Maynard and Gregory Stafford(3 days, 11 hours ago)
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Gregory Stafford
The hon. Gentleman has aptly described the social utopia that I accused him of describing. The fundamental point is that if we do not have businesses contributing to the economy, we cannot fund public services. If 90,000 people in the hospitality sector are made unemployed, they are not paying income tax, and we cannot support public services. The idea that the Government can just raise money out of nowhere forever, inevitably, without consequence, is not sustainable, and we are seeing that in our economy.
Charlie Maynard
I have already said this, and will say it again: I absolutely—and I speak on behalf of my colleagues—expect the Chancellor to stand by her promises.
Gregory Stafford
I thank the hon. Gentleman for that clarification. Hopefully, that means that the Liberal Democrats will vote for our motion later.
Gregory Stafford
The hon. Gentleman shakes his head—our motion probably does not fit the narrative that he is looking for.
The hon. Member for Bishop Auckland just said that neither he nor I know what is in the Budget. While that is technically correct, the Government have been flying many kites about what will be in this Budget, pretty much since the summer—more kites than Mary Poppins—and I think that gives us some indication of what will be in the Budget. As has been said, that has caused great uncertainty and worry. Businesses are either deciding not to invest because they are so worried about what will happen, or delaying investment decisions because of the Budget.
Stamp Duty Land Tax
Debate between Charlie Maynard and Gregory Stafford(2 weeks, 4 days ago)
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Gregory Stafford (Farnham and Bordon) (Con)
Today the state of our economy is laid bare: growth has flatlined at just 0.1% in August; inflation remains at almost twice the Bank of England’s target; and long-term borrowing costs are at their highest since 1998. When we left office back in July 2024, we had the fastest growing economy in the G7. A year later, unemployment is up, debt is at its highest since the 1960s, and the UK is sliding backwards. It is hardly surprising from a Government with more experience in the trade union movement than in business. Only the Conservatives are serious about the economy.
Gregory Stafford
I have literally only been speaking for 30 seconds, so I think the hon. Member can bear with me for a minute or two.
The Government’s inexperience shows in the policies that they pursue—policies that make it harder for businesses, homeowners and first-time buyers to thrive. Now, just weeks before the Chancellor’s Budget, comes the most destructive raid on homeowners in living memory, if we are to believe the leaked reports coming out of the Treasury.
Charlie Maynard
Under the Conservatives’ watch, the national debt grew by nearly £1 trillion. They drove our economy through a hard Brexit into the ground, and yet they masquerade as the party of good sense in the economy. I do not understand how that makes sense. Will the hon. Member explain?
Gregory Stafford
There have been a lot of comments about when people were born and what they remember. I hope the hon. Member does not take offence, but I am sure he was born before covid and the war in Ukraine and so he knows why we had to increase the national debt as a result. He is being entirely disingenuous if he believes those things did not have an impact on the economy. If he had been in power, what would he have done? Would he have not supported those small businesses, employers and hard-working people?
Gregory Stafford
No, I have already heard enough from the hon. Member, so I will not give way for the moment.