(8 years, 6 months ago)
Commons ChamberI have already said that the number of first-time buyers is actually up by 57% under this Government, and I would make this observation: we cannot have a strong and successful housing market, and people getting on the housing ladder, unless we have a strong and successful economy. If we followed the prescription of the Labour Front-Bench team, of nationalising half the economy and imposing punitive tax rates, there would not be anyone able to afford any home in this country.
The lifetime ISA will be a very popular and successful new saving product precisely because it does not require people to choose between saving for a home or saving for their retirement; they can do both. We are also now looking at ways for people to draw on their savings during their lifetime for particular emergencies, or for when they need bits of money, like they do in the United States with the 401(k) scheme. The lifetime ISA will be a radically new savings product, and it will do what we need to do in this country, which is build a savings culture.
The Office for Budget Responsibility assesses and puts on the scorecard the estimated revenue that we will raise from tax avoidance, but it will be around an extra £1 billion a year just from the measures in the Budget. In last year’s Budget after the election, we had measures to raise £5 billion from clamping down on aggressive tax avoidance and evasion. The fight continues.
(9 years, 11 months ago)
Commons ChamberThis is billions of pounds of investment into the south-west of England that never happened under the Labour Government. The Labour Government completely neglected the south-west of England, and the Labour MPs who represented those constituencies got absolutely nothing from them. Conservative candidates and Members of Parliament are delivering for the south-west.
Rail passengers in East Anglia deserve a fair deal, and my hon. Friends the Members for Ipswich (Ben Gummer) and for Witham (Priti Patel), my right hon. Friend the Member for Chelmsford (Mr Burns) and I have worked hard for our constituents. I welcome the Chancellor’s commitment to the East Anglian economy, not just the road improvements but specifically his backing for two key recommendations of the Great Eastern main line taskforce and the work of its thousands of supporters, including the new Anglia local enterprise partnership. I also welcome his commitment to track improvements and new trains.