Dawn Butler
Main Page: Dawn Butler (Labour - Brent East)Department Debates - View all Dawn Butler's debates with the HM Treasury
The Economy
Dawn Butler Excerpts(6 months ago)
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Bim Afolami
My right hon. Friend has put that incredibly well. Very good things have happened to our economy over recent months, particularly in my own area of financial services. I would add that many Members, on both sides of the House, were concerned about the impact of Brexit on the British economy. As he suggested, our record shows that this Government have been able to guide the country through the post-Brexit period and towards better times than ever.
Dawn Butler (Brent Central) (Lab)
Sometimes this House really is a theatre. The Minister has come to the Dispatch Box all jubilant, but my constituents queue outside food banks for hours, from nine o’clock in the morning until nine o’clock at night. Prices are more expensive than when the Tories first took office. This Government have had 14 years and they have destroyed the economy. People are paying £250 more a month on their mortgages, according to the Bank of England. I cannot believe that the Minister is saying that things are going to get better. Ultimately, I hope that, in a few hours, the Prime Minister will be outside No. 10 and call a general election. People can then make a choice and vote Labour.
Bim Afolami
My response is that this Parliament has seen an unprecedented hit to people’s living standards because of covid—a once-in-100-years impact. Might I remind the House that this Government spent £450 billion in supporting the economy? We supported people through programmes such as furlough, supported small businesses through discretionary grants, and supported the NHS. There are so many things that were opposed by the Opposition.
Labour Members mention borrowing and taxes. If it had been up to them, we would have been in lockdown for longer. If it had been up to them, we would have borrowed more. If it had been up to them, they would not have made the decisions that we had to make—tough decisions on public sector pay that meant that, by working in partnership with the Bank of England, we could bring inflation down. We are at an inflection point and not everything is complete—we are not there yet—but the economy is starting to turn a corner through the leadership of this Government.