Edward Leigh
Main Page: Edward Leigh (Conservative - Gainsborough)Department Debates - View all Edward Leigh's debates with the HM Treasury
(2 years, 6 months ago)
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Robert Jenrick
Absolutely; I do not demur from that, but we have to find the right balance in our country between public expenditure and ensuring that the private sector can flourish. I worry that we have now reached the moment at which there is not much more that we can spend.
We have to ensure that we grow our way out of this challenge. That was illustrated in some of the Chancellor’s announcements today, including those on research and development relief, the continuation of the investment allowance, the support for skills and also the maths support, about which I would be interested to hear more detail. This is also about ensuring that we have sensible tax arrangements in this country that can incentivise investment and ensure that businesses can prosper. The overall tax burden is at its highest sustained level in peacetime, and I worry that we will not be able to go much further than that.
I want to make one last point briefly before closing, because I appreciate that—
Sir Edward Leigh
I want to say a fantastic big thank you to my right hon. Friend personally, because it has just been announced this minute that Gainsborough is getting £10 million of levelling-up funds. I relentlessly lobbied him on this, and I have lobbied his successor, so a big thank you!
Robert Jenrick
I am grateful to my right hon. Friend for ending on such a positive note. I know Gainsborough well—it is my neighbouring constituency—and I am delighted for him and his constituents.
I shall close where I began, which is by saying that there was a huge amount in the Chancellor’s announcements to be applauded. I commend him and the Treasury team and wish them well. The focus now needs to be on growing the economy and making the UK the most competitive place it possibly can be, rather than seeing taxes rise and expenditure increase, risking the private sector not being able to flourish and build that optimistic vision that the Chancellor laid out.