Spring Statement Debate

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Department: HM Treasury

Spring Statement

James Frith Excerpts
Tuesday 13th March 2018

(6 years, 3 months ago)

Commons Chamber
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Lord Hammond of Runnymede Portrait Mr Hammond
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My hon. Friend is absolutely right, and that point needs to be made more often. When the right hon. Member for Hayes and Harlington talks about borrowing an extra £100 billion, £250 billion or £350 billion—or whatever figure he is thinking about this week—and when he talks about nationalising an industry for £190 billion or whatever, he is talking about burdening the next generation with yet more debt that will blight their futures and limit their chances. That is not fair; it is not right, and we must make sure that he never gets the chance to do it.

James Frith Portrait James Frith (Bury North) (Lab)
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Some small businesses in Bury are still picking up the pieces following the Carillion collapse. Small business confidence in the north-west is at its lowest in four years, with UK skills shortages being blamed for some £3 billion of lost earnings. The Chancellor chose to come to the House today to give us this spring statement, yet he had nothing to say. We heard a fake news forecast with nothing for the real job creators. Will he give some certainty to the small businesses that are providing the jobs in towns such as mine, and will he stop this outsourcing to puffed-up vehicles such as Carillion, which appear to be too big to fail until the point when they do fail?

Lord Hammond of Runnymede Portrait Mr Hammond
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On the statement, the reason that I have come to the House to make this statement today is because the OBR has published its second report of the fiscal year. It is mandated by Parliament to produce two reports a year, and I think that the House would have regarded it as a gross discourtesy if I had published the report without coming to the House to answer questions on it. I am glad that the hon. Gentleman has mentioned skills shortages. He will recognise that, while skills shortages are a serious problem, it is in a sense the better problem to have, rather than having skilled people looking for employment. The work is there, the jobs are there and the economic growth is there; we now have to respond to that by delivering the skills that people need. On outsourcing, we will continue to pursue the best value for money for every pound of taxpayers’ money that we spend, and where that involves collaborating with the private sector, that is what we will do. The way in which we have handled the Carillion situation has ensured that public services continue to be provided and that the public purse has not had to bail out a private company.