Income Tax (Charge)
Dan Aldridge Excerpts(2 days, 5 hours ago)
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Esther McVey (Tatton) (Con)
I congratulate the hon. Member for Broxtowe (Juliet Campbell) on her maiden speech and her personal story. I thank you, Madam Deputy Speaker, for calling me to speak in today’s Budget debate on fixing the NHS and reforming public services. However, the truth is that this Budget’s smash and grab on the UK’s businesses means that the money will not be there to pay for the excellent public services this country requires.
Labour has never understood the concept of private enterprise and businesses paying for public services, and that it is only with a thriving private sector that the country can have the public services it wants and needs. Make no mistake: this Budget will be catastrophic for the economic health of this country. It is the biggest tax-raising Budget in British history, and it will turn out to be the longest suicide note in Labour’s political history, too.
The Budget is socialism at its worst: high taxes, high spending and massive debt. [Interruption.] Labour Members are laughing, but this is massive debt for future generations. This Budget is anti-business, anti-farmer, anti-aspiration, anti-wealth creation and anti-worker. Yes, anti-worker. Despite all of Labour’s promises before the general election, the Government are taxing workers as they raise national insurance contributions for employers.
This begs the question: do the Chancellor and the Prime Minister not know how the economy works? They certainly do not know how business works. Not one of the current bunch of Cabinet Ministers has ever set up a business. No wonder they do not have a clue about national insurance contributions.
For clarity, both the independent Office for Budget Responsibility and the Institute for Fiscal Studies have said that 80% of the employer national insurance rises will be paid for by the workers through lower wages and reduced employment levels. No wonder Labour Members have now gone silent.
The Chancellor’s raid on the unfairest tax of all, inheritance tax, will double the number of estates that have to pay it and, disgracefully, will make it virtually impossible for family farmers to pass on their business to the next generation. Farmers are most definitely working people, just in case Labour Members do not know. This Budget will be disastrous for our rural areas and for the country’s food security, and all because of good old-fashioned socialist envy.
Esther McVey
No, I will carry on, thank you very much.
In addition to huge tax rises, this Budget will have an eye-watering impact on the country’s debt. Debt interest payments will be more than £100 billion a year, every year, and will reach an astonishing £120 billion by the end of the decade. To put that into context—
Dan Aldridge (Weston-super-Mare) (Lab)
It is privilege to serve in this Parliament, and I am immensely proud to speak in support of the Budget, the Chancellor, and her remarkable team. As someone raised by strong, brave, and kind women, I cannot in good faith ignore the significance of having a woman lead the charge to rectify the economic instability left by the men before her. This Budget lays the foundation for a fairer, more productive economy, and aims to fix the very bedrock of our society. It is genuinely inspiring to see how the Chancellor’s team has embraced the challenge of balancing both the big picture of reform and national renewal, and the critical details that support those most vulnerable to economic shifts.
The investment outlined in the Budget cannot come soon enough, especially in constituencies such as mine, where average earnings are nearly £7,500 below the UK average. My sister is a nurse at Weston general hospital at the heart of my constituency, and as a family we know the true weight of the crisis in healthcare. Indeed, last week my mother, who has Parkinson’s, fell over. We waited for nine or 10 hours, and eventually ended up dragging her into the car. There was no dignity in that, and that is the state we have been left with.
For us, if Labour had not won the election, healthcare free at the point of use would have been at risk of disappearing forever. Thankfully, under the Labour Government the NHS has been given a vital eleventh-hour reprieve. The £22.6 billion investment promised in the Budget will not only prevent further decline, but actively rebuild our health services. For Weston general and our GP surgeries, that means more appointments, long-overdue maintenance and improvements, and a sense of hope for our community. The Budget is not just about holding back the tide of decline; it is about building a dam to protect the future. It is progressive, targeted investment where it is needed most.
In Weston-super-Mare, increasing the minimum wage will see nearly 4,000 workers in North Somerset up to £1,400 better off each year, and with £1.6 billion allocated for road maintenance, we can start to tackle the huge backlog of potholes that plague Weston, Worle, and everywhere between. The £6.7 billion investment in education will mean better funding for Weston’s schools and colleges, and the £1 billion uplift for special educational needs, disabilities and alternative provision, is a particularly welcome change for many families in my constituency, and will begin a much-needed reform of SEND provision. Although we know it will take time properly to address the crisis in local government funding that we inherited, £1.3 billion of new grant funding will increase resources for North Somerset council, supporting essential services for our communities.
The Budget delivers on why we were elected: to tackle the cost of living crisis, get our NHS back on its feet, and lay the foundation for an economy that not only grows, but does so in a way that builds stronger, healthier and more resilient communities. When people see the changes in our hospitals, surgeries, schools and roads, they will once again believe that government can be a force for good. This is just the beginning of our journey towards a fairer, more hopeful future.