Budget Resolutions

Debate between David Baines and Andrew Griffith

Wednesday 6th November 2024 Commons Chamber

[Andrew Griffith (Arundel and South Downs) (Con)]

Thank you, Madam Deputy Speaker. May I start by congratulating our US allies on the election of their 47th president? When it comes to business and trade, America is our most important partner. As our economies are so interlinked, nearly 1.5 million Brits work for American companies, and more than 1.2 million Americans work for British companies. That trade relationship is worth £280 billion a year, and the amount invested in each other’s economies has now surpassed £1 trillion.

The Government may be right to say that there is much to rebuild in Britain today, but what this Budget does, combined with the Government’s nationalisation of railways, Employment Rights Bill, and Great British Energy, is to take us further away from that goal, with higher taxes, more regulation, bigger government and a smaller wealth-producing part of the economy. It is a Budget for prejudice rather than for progress. While Labour Members will praise the Budget for its finer measures and the socialist purity of its design, their constituents can see that, when it comes to growth, the Budget emperor has no clothes. The Office for Budget Responsibility strips it back to its stark, naked flesh. It says that Budget policies temporarily boost output in the near term, but leave GDP largely unchanged in five years. If growth is their central mission, the Government have already failed.

In the harsh light of day, the Secretary of State’s colleagues are starting to realise that the Budget is not such an appealing sell. As was reported on Sunday, Labour Back Benchers have said that the Chancellor’s Budget is impossible to sell to horrified constituents—they have been reading their emails again. One colleague of the Secretary of State for Business and Trade told The Daily Telegraph, “It has been received very badly indeed within the Labour party”. There is a stark contrast between what the OBR is saying and what those on the Government Front Bench are claiming. The chances are that it will not be a growth Budget, as is claimed. All the evidence is that it will have no more growth by the end of it, and it will certainly be paid for by higher effective taxes on working people.

The Secretary of State’s colleagues are right, and no wonder. The private sector experience of the Cabinet could barely fill a beer glass, let alone a boardroom. Conservative Members know that it is business that creates jobs and the prosperity to pay for our public services. Businesses are the builders, and there is no rebuilding without them. That is something that Labour Members simply do not understand. Britain’s business needs a Government who have their back, not one that drags them down.

[David Baines (St Helens North) (Lab)]

Under the previous Government, life expectancy plateaued, and the number of people living with long-term ill health increased. Was that good for business?

[Andrew Griffith]

The ability to continue to invest in our public services, and the sterling work done by the predecessor Government on levelling up every part of the United Kingdom—[Interruption.] Government Members do not like it, but that work relies fundamentally on private enterprise, which pays the taxes that fund the prosperity and the infrastructure that this country needs. I am afraid that the hon. Gentleman is merely showing once again his party’s deficient understanding of how a modern economy works—it is markets, not Governments, that drive up prosperity—and how free trade has improved human health.