Management of the Economy and Ministerial Severance Payments

Helen Hayes Excerpts

Tuesday 15th November 2022 Commons Chamber

[Helen Hayes (Dulwich and West Norwood) (Lab)]

In my seven and a half years in this place, I have never known a time like this. Our country was already straining and buckling under the weight of 12 long years of austerity, the impact of the covid-19 pandemic, the economic consequences of Brexit and the war in Ukraine. But when people across our country most needed leadership, comfort and meaningful support from their Government, the Government gambled their security on their own ideological slot machine, inflicting entirely unnecessary additional damage on the economy, instigating a financial crisis and opening a vast, gaping hole in the public finances.

There is another thing I have never known before: the sheer scale and extent of the collective anxiety out there in our communities. That is palpable everywhere I go. People are terrified about how they will meet increased mortgage or rent payments, terrified about how they will afford to pay their bills and terrified about how they will continue to feed their families and keep a roof over their heads this winter. By undermining our economic security so much, this Government have delivered a huge blow not only to our nation’s finances and the health of our economy, but to our nation’s mental health.

What is the response of the Government and Conservative Members? To put the blame everywhere but at their own door. In no other country anywhere in the world did the central bank have to step in overnight to stop a collapse in pension funds

[Matt Rodda (Reading East) (Lab)]

My hon. Friend is making an excellent speech and is contrasting effectively the Government’s reckless disregard for the everyday reality of residents across the country. Does she agree that there is particular pressure on many younger people who are currently trying to get on to the housing ladder?

[Helen Hayes]

It was already so hard for young people in our country to afford to get on to the housing ladder, and it is devastating for so many of them that that challenge has been made even worse.

This Government seek to pretend that the extraordinary and unprecedented situation we face—a £30 billion self-inflicted hole in our public finances—is normal and nothing more than a minor accounting error that they are seeking to rectify before they carry on with business as usual. They seek to normalise the terrible damage they have done.

This is not normal. My constituents do not get to carry on as normal as they struggle to pay their mortgages. My local councils, which, later this week, are likely to face further swingeing budget cuts to services that are already stretched to breaking point, do not get to carry on as normal. Our public services, including our NHS, do not get to carry on as normal. They all have to live with the disastrous consequences of this Government’s ideologically driven mismanagement of our economy. The loss-of-office payments are the salt in the wounds. The previous Chancellor and Prime Minister were reluctant to tax the windfall profits of the energy giants, but happy to take the windfall profits from the disaster they created.

This is UK Parliament Week, and when I visit schools in my constituency, as I did this morning, children ask whether it is right that former Ministers who presided over such a disaster are taking loss-of-office payments. They also ask whether the most senior politician responsible for our nation’s health during a pandemic that saw such catastrophic loss of life should be taking part in a reality TV show while his constituents are left to fend for themselves during the current crisis.

I hope that Government Members will visit schools in their constituencies this week to hear what children in our nation think about their behaviour, which is corrosive to trust and confidence in our politics, widens the gulf between those in power and the communities they represent, and brings shame on this place while our constituents foot the bill. I hope that Government Members will reflect on that as they decide how to vote on the motion.