Budget: Press Briefings
Debate between John Slinger and James Murray(1 week, 2 days ago)
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James Murray
As I said earlier, regrettably there is always noise and speculation ahead of a Budget. In reference to the Chancellor’s speech earlier this month, the reason she set out the challenges we face as a country was to be straightforward with the British people about the challenges we face and clear about her priorities, which are to protect on the NHS, bear down on the cost of living and get national debt down.
John Slinger (Rugby) (Lab)
Does the Chief Secretary agree that the Tories are still as irresponsible as they were under Liz Truss, blindly promising £47 billion of cuts to justify their wacky fiscal policies? Does he agree that that is back of the fag packet territory? Does he agree that the Chancellor will deliver an excellent Budget next week?
James Murray
I agree entirely that the Conservative party has learned nothing, and nor has it apologised at all for what happened under the short-lived Government of Liz Truss. For the Conservatives to talk about the savings they have apparently identified recently, including welfare savings, is frankly not credible when the shadow Chancellor is the man who presided over the biggest increase in the welfare bill in decades.
Farming and Inheritance Tax
Debate between John Slinger and James Murray(11 months, 3 weeks ago)
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James Murray
My hon. Friend is absolutely right to draw attention to the mismanagement under the previous Government and to how important it is that, through the commitments we made in the Budget on the farming budget over the next two years, we support farmers across the country as evidence of our steadfast support.
I recognise that the reforms we are making to agricultural and business property relief will have an impact on some individuals. I recognise that some of the larger estates, particularly those worth over £3 million, may be affected by the changes, but the reforms to the reliefs will maintain significant levels of relief from inheritance tax, at a total Exchequer cost of over £1 billion in the year that the reforms take effect, before rising further. They offer support for family farms and businesses across the country. We could not justify leaving the situation unchanged, with a full, unlimited tax relief benefiting a very small number of estates by a very significant amount.
John Slinger (Rugby) (Lab)
Does my hon. Friend agree that perhaps unsurprisingly, given the name of their political party, Conservative Members seek to preserve the status quo, which includes the top 7% of claimants—the wealthiest—accounting for 40% of the overall APR budget? Does he agree that the Conservatives need to set out how they would make the situation fairer and provide a better deal for our agricultural sector?
James Murray
My hon. Friend is absolutely right to point out that the Conservative party has no ideas about how the country needs to change, no ideas about how to get the public finances back in order, and no ideas about how to get public services back on their feet or how to deliver economic stability.