Charter for Budget Responsibility

Debate between George Osborne and Albert Owen

Wednesday 14th October 2015 Commons Chamber

[Albert Owen]

(Ynys Môn) (Lab) rose—

[Mr Osborne]

I am going to make some progress.

I welcome the shadow Chancellor to his place, and I look forward to working with him when we can agree. In that respect, he made a good start, with his first big pronouncement on Labour’s approach to fiscal policy two weeks ago. He said:

“We will vote for it on the basis that we want to assure people that we will tackle the deficit, we will balance the budget, we will live within our means”.

That is precisely what the charter is for, and I thank him for encapsulating precisely the basis on which I urge all Members to support it, whatever their party. If they cannot support us, I urge them at least to abstain.

[Albert Owen]

rose—

[Mr Osborne]

I am going to make some progress. [Interruption.] I think we are making quite a lot of progress as it happens.

Of course, since the shadow Chancellor spoke a couple of weeks ago, he has performed the most spectacular U-turn. We were told when he got the job that he would be a divisive figure. I just did not realise the split would be between two opposing views both held by himself. I have been standing at these two Dispatch Boxes for 10 years, and today, as on such occasions in the past, I have a sheaf of quotes from people in the Labour party from the past couple of days. I could read them all out, but the truth is that the complete chaos, confusion and incredibility of Labour’s economic policy is more eloquently expressed by Labour MPs than by any of my colleagues. To call the whole episode a shambles is an understatement—like saying the charge of the Light Brigade did not achieve all its objectives.

The serious point is this: in my experience, shadow Chancellors come and go, but what is permanent is the economic approach the Labour party is committing itself to tonight. It is becoming the party of permanent fiscal irresponsibility and never-ending borrowing, the party that would run a deficit forever—a Labour party that is a standing threat to the economic security of the working people of this country. It is not too late for Labour MPs to dissociate themselves from this reckless cause that their party has embarked upon, so I say to them: join us tonight, vote for budget responsibility and economic sanity, for eliminating our deficit and for reducing our debt, and help us prepare Britain for an uncertain future. Let us give those who elect us a Government that live within their means, a country that earns its way in the world, and economic security for the working people of Britain. I ask the whole House to support the charter tonight.

Oral Answers to Questions

Debate between George Osborne and Albert Owen

Tuesday 24th April 2012 Commons Chamber

[Albert Owen (Ynys Môn) (Lab)]

T6. It has been reported in the papers that the Chancellor is prepared to meet with charities so that he can explain his tax hike and tell them how he can get it right in the future. For the sake of consistency, will he also meet with the purveyors of pasties, church leaders and caravan operators and manufacturers so that he can tell them how he will get it right in the future and they can tell him to drop these VAT hikes?

[Mr George Osborne]

What I find extraordinary is that we have a Labour MP supporting the idea that the very wealthiest people in this country pay no income tax. That is an extraordinary thing for a Labour MP to advocate. As I say, we have made reforms in the Budget to improve the tax system and to ensure that people at the very top of the income scale pay some income tax.

Oral Answers to Questions

Debate between George Osborne and Albert Owen

Tuesday 6th September 2011 Commons Chamber

[Mr Osborne]

Planning costs in Britain are among the highest in the world and planning delays are among the longest in the world. That is what we are seeking to deal with, so that we get economic development that is sustainable and protects our most cherished environments. That is what we are doing. What people are beginning to see, as this debate unfolds, is that we have to take some difficult decisions in this House if we are to have sustainable economic growth in a very competitive global economy. The planning reforms are part of that plan.

[Albert Owen (Ynys Môn) (Lab)]

The massive increases in energy prices are hitting every family and business in this country. Before the general election, the Conservative party, and indeed the Prime Minister, promised to take direct action and curb excessive rises. What action does the Chancellor intend to take to cure this problem now?

Oral Answers to Questions

Debate between George Osborne and Albert Owen

Tuesday 22nd March 2011 Commons Chamber

[Mr Osborne]

I thank the right hon. Gentleman for his support—we are one big happy coalition on this issue. I will ask Treasury officials to engage with him so that we get this right. We have to work in a way that is not bureaucratic, but gets money to those who really need it. Having looked at the issue, I think perhaps the best route is to work closely with the charities that know the sector best. Let us work together and make the scheme work.

[Albert Owen (Ynys Môn) (Lab)]

3. If he will estimate the revenue to the Exchequer attributable to receipts from the increase in the standard rate of value added tax on road fuel.

Financial Assistance (Ireland)

Debate between George Osborne and Albert Owen

Monday 22nd November 2010 Commons Chamber

[Mr Osborne]

The terms and conditions of the loan are still to be decided, and as I said, they will be brought to the House of Commons. However, to make a general observation, we are seeking not to make a buck, but to help our friend.

[Albert Owen (Ynys Môn) (Lab)]

The Chancellor is right to say that it is in the British national interest to help Ireland. Irish economists say that one problem on top of the instability of the banks is that the economy is suffering because too much money has been taken out of it. Will the Chancellor act in the British interest and reconsider the speed at which austerity measures are introduced in the UK, because that could hamper our economy?