Charter for Budget Responsibility

James Berry Excerpts

Wednesday 14th October 2015 Commons Chamber

[James Berry (Kingston and Surbiton) (Con)]

What we have seen tonight from the shadow Chancellor must be one of the quickest and most dramatic U-turns by a shadow Chancellor in history. Not two weeks ago he supported the Chancellor’s charter for budget responsibility, and he surprised us and the British people by seeming to agree that we need to run a budget surplus. That was too good to be true, and today he has set his face against fiscal responsibility. By doing so he sets his face against the British people, including my constituents in Kingston and Surbiton.

Today the shadow Chancellor has given us notice of his plans for more spending funded by more borrowing and higher taxes. In May the British people decided that the Labour party could not be trusted with the economy and that it had not learned from its mistakes last time around. Two weeks ago I was surprised to hear that the shadow Chancellor was ready to take the medicine of accepting Labour’s past economic errors, but now he has shown his true colours by rejecting that medicine and tearing up the prescription. Today he has written out a new prescription—Labour’s prescription—for our economy: more spending, more borrowing and more tax. That is not a prescription for a strong economy, growth or jobs; it is a prescription for economic ruin.

I see the hon. Member for Ilford North (Wes Streeting) is in his place. It is a shame that his colleague the hon. Member for Ilford South (Mike Gapes) is not, because just a few days ago he said on Twitter:

“There is now no collective Shadow cabinet responsibility in our Party, no clarity on economic policy and no credible leadership.”

We have seen none from the shadow Chancellor tonight.