Oral Answers to Questions

Chris Philp Excerpts

Tuesday 19th January 2016 Commons Chamber

[Mr Osborne]

As I said, manufacturing makes up a larger sector of the economy than when I became Chancellor, but there is a huge amount more to do to make the UK more competitive, to make our businesses more competitive, and to improve skills for our manufacturers and the like. I have to say, and I suspect the hon. Lady agrees with me, that the idea of banning manufacturers from paying dividends would not be a particularly sensible way forward. Unfortunately, that is now the policy of the Labour party.

[Chris Philp (Croydon South) (Con)]

Is the Chancellor aware that since he took office in May 2010, the claimant count in my constituency has fallen by 62% and the youth unemployment count has fallen by 67%? Does he agree that reducing corporation tax, increasing the personal allowance and reforming welfare has caused these fantastic figures, and will he confirm that his long-term economic plan will continue?

[Mr Osborne]

We will absolutely deliver the plan in these more difficult economic conditions. As I say, the IMF has not revised down the UK’s growth forecast even though it has today revised down the global economic forecast. In Croydon and south London, we will continue with important transport infrastructure, and, indeed, do everything we can to back homeowners in my hon. Friend’s constituency—a group of people he particularly champions.