Autumn Statement

Julian Huppert Excerpts

Wednesday 5th December 2012 Commons Chamber

[Mr Osborne]

The steps we have taken today, for example, to provide additional capital spending in Scotland, show the strengths of Scotland’s being part of a United Kingdom that is able to borrow money on world markets at exceptionally low rates. The SNP has still not answered the most basic questions about currency, about monetary policy management, and about the cost of debt and the like. Until the SNP can answer those fundamental questions about economic management, I do not think anyone is going to trust it with taking over control of that entire economic management through independence.

[Dr Julian Huppert (Cambridge) (LD)]

One thing I was delighted not to hear in the statement was the Prime Minister’s bizarre idea of scrapping housing benefits for the under-25s. Will the Chancellor tell the House whether it was omitted because he now realises that it would have been a mistake, that not all young people have loving, stable families to live with, and that they need and deserve our support—or was it just that we in the Liberal Democrats would not let him do it?

[Mr Osborne]

I think that is a slightly sour note from my Liberal Democrat colleagues. We have put together an autumn statement as a coalition Government and we have supported the priorities we both share, which include the personal allowance increase, dealing with fuel duty and investment allowances for businesses. We have collectively taken the difficult decision on welfare uprating; it is the best way, at present, to try to make savings in the welfare bill.