Lord Hanson of Flint
Main Page: Lord Hanson of Flint (Labour - Life peer)Department Debates - View all Lord Hanson of Flint's debates with the HM Treasury
(13 years, 7 months ago)
Commons ChamberI will be a Jones who shows some brevity out of courtesy for his colleagues on both sides of the House.
I welcome the Chancellor’s Budget and congratulate him on it, because this is a difficult time to be a Chancellor and to deliver a Budget, as it will be for the rest of this Parliament. As much as Opposition Members like to deny it, the Chancellor is constrained by the straitjacket of the deficit and the debt left behind by Labour. We must view the Budget in context. We are paying £120 million a day in interest alone on our debt—£43 billion this year, which is more than we spend on the armed forces, the Foreign Office and the Department for International Development combined—which is a scandal.
I therefore commend the Chancellor for what is, in the circumstances, a first-rate Budget. It goes some way to recognising the financial pain that is being felt in the country, and serves to set a clear tone for the business community. This Government take businesses far more seriously. They recognise that people and businesses and not the state create jobs—sustainable jobs—and that if we are not serious about business, the country cannot sustain in a settled fashion the important public services on which we all rely.
There are positives in the Budget for individuals and businesses, but I shall also respectfully mention one or two concerns about it. I welcome the announcement on fuel, which is currently the biggest issue for my constituents. People will tonight breathe a sigh of relief that the 5p a litre increase programmed into the Budget by the previous Chancellor, the right hon. Member for Edinburgh South West (Mr Darling), has been deferred. I am delighted that that has happened. People will also breathe a sigh of relief that the Government recognised the importance of that, and decided to get off the escalator at the right time, unlike the previous Government, who did not know when to get off, as we saw in 2000 when our fuel depots were blockaded by truckers and angry motorists, which I hope will not happen now.