Budget Responsibility Bill

Judith Cummins Excerpts

Committee of the whole House
Wednesday 4th September 2024 Commons Chamber

[Darren Jones]

I beg to move, That the Bill be now read the Third time.

I will not take up too much more time, but I will provide a final reminder of how important this legislation is. At the general election, the Government received a mandate for economic growth. Sustained growth is the only route to improve prosperity and to improve the living standards of the British people. It is now our national mission.

Economic stability is key to achieving this. We have seen what happens without it, when huge, unfunded fiscal commitments are made without proper scrutiny and when key economic institutions such as the OBR are sidelined. We cannot let ourselves get into that position again. Unfunded, unassessed spending commitments not only threaten the public finances, they can threaten people’s incomes and mortgages, as we saw under the previous Government.

I therefore encourage Conservative Members—who have told us today that, after 14 years of Conservative government, the economy has never been so good—to reflect, if only for a moment, on why they lost all credibility for economic competence and suffered the worst election result in their history.

Once again, I congratulate all my hon. Friends and other hon. Members on their excellent maiden speeches today. I thank hon. and right hon. Members on both sides of the House for their contributions, and I thank the Clerks and officials who have supported the Bill’s rapid passage.

The Budget Responsibly Bill forms a small but vital part of our plan to restore economic stability and deliver economic growth. For these reasons, I commend it to the House.

[Madam Deputy Speaker (Judith Cummins)]

I call the shadow Minister.

--- Later in debate ---

[Alan Mak]

I think the answer from the Chief Secretary to the Treasury is no, which confirms everything we already knew. It means that the people can never trust Labour with our economy, that Labour will raise taxes and cut investment at every opportunity and that Labour’s honeymoon is well and truly over.

Question put and agreed to.

Bill accordingly read the Third time and passed.

House of Commons Commission

Resolved,

That

(1) in pursuance of section 1(2)(d) of the House of Commons (Administration) Act 1978, Rachel Blake be appointed to the House of Commons Commission, and

(2) in pursuance of section 1(2B) of that Act, the appointment of Shrinivas Honap as an external member of the Commission be extended to 30 September 2026.—(Lucy Powell.)

[Madam Deputy Speaker (Judith Cummins)]

I call Tim Farron to present a petition. The Member is not present.