Karin Smyth
Main Page: Karin Smyth (Labour - Bristol South)Department Debates - View all Karin Smyth's debates with the HM Treasury
(3 years, 3 months ago)
Commons ChamberWell, my right hon. Friend and I strongly agree on the role of the private sector in driving our recovery. What is important, as the hon. Member for Strangford (Jim Shannon) said, is businesses having the confidence to invest, which is why the Government have provided support for businesses not just to get through the crisis, but, through tax cuts such as the super deduction, to help them invest and drive our recovery forward. Both my right hon. Friend and I know that the prosperity that we all want can only be created by those private sector companies. I hope that gives him the reassurance that he is looking for. I should make some progress.
Talking of those businesses, I do believe that they are also now beginning to feel more confident. Although many firms have been hit hard by the pandemic, the latest data shows that the number of businesses becoming insolvent actually fell by nearly a quarter last year compared to the year before, and in aggregate firms have been able to build up an extra £100 billion of corporate deposits since the start of the pandemic. Since we announced our super deduction tax cut, businesses now have a virtually unprecedented incentive to invest and create jobs. Bank of England surveys show that businesses expect to invest around 7% more than they would have done over the next two years, and Deloitte’s recent survey of business leaders shows that their intention to invest is stronger than it has been at any point since 2015.
It is, of course, going to take this country and the whole world a long time to recover fully from the shock that saw the largest fall in output in 300 years, but although our recovery will be long and difficult, it is beyond doubt now that our plan is working. We will, however, never be complacent. Eight hundred thousand people have lost their jobs through this crisis, and no Chancellor could guarantee that there will not be more jobs lost. People losing their jobs is the thing that weighs most heavily on me. Work is the best route out of poverty. It brings people financial independence. It improves long-term outcomes for families and children. Work is not just another economic variable—it provides us all with purpose and fulfilment. That is why every job lost is a tragedy. That is why jobs are our highest economic priority. That is why we have a plan for jobs, and that plan is working.
The right hon. Gentleman may have noticed that we recently elected a new Mayor of the West of England region who has pledged to commit to jobs, green jobs and bringing people together across the west of England. Will the right hon. Gentleman commit to working with the new West of England Mayor to deliver that promise, because no one from the Government has currently been in touch to ensure that that promise is delivered on?
The Government believe in devolution and have worked successfully with Mayors across the country. I have a very productive relationship with Mayors. I commend all Mayors who have recently been re-elected, particularly Andy Street in the west midlands and Ben Houchen in the Tees Valley. I believe that all leaders want to drive jobs and growth in their areas. I look forward to working with anybody who shares that goal, and I look forward to working with that new Mayor.
When it comes to supporting work, what also matters is that we reaffirm our commitment to ending low pay by increasing the national living wage to £8.91, an annual pay rise for someone working full time of almost £350. We are providing targeted support to young people, who, as has rightly been identified, have been hardest hit in the pandemic. The £2 billion kickstart scheme will create hundreds of thousands of jobs for 16 to 24-year-olds who would otherwise be at risk of long-term unemployment.
This Queen’s Speech was most notable for what it lacked. It was the thinnest of gruel for a nation hungry for ambition and a plan to get back on track, but there was no plan for our economy, nothing of substance on jobs or opportunities for young people, and—perhaps most troubling of all—no plan for social care. Normally a Government wait until after the speech has concluded to start breaking their promises, but this Government’s refusal to confront the ticking time bomb of social care, despite the Prime Minister’s repeated assurances, shows that they are willing to break new ground on broken promises. There was no need for the Prime Minister to bring his ID to the Chamber yesterday; this speech had his fingerprints all over it.
In Bristol, 6,000 people are supported by adult social care, most of them at home. This accounts for around 40% of council expenditure, but that is the tip of the iceberg because most of us are trying to support our older relatives and give them the dignity they have earned through their lives. We are frustrated, we are tired, but we are resolute in supporting our old people and we need help.
A care home manager wrote to me yesterday. I do not have time to go through her whole heartbreaking letter, but at the end she said: “It is a travesty that such a skilled role, involving caring for people and ensuring that medical and all care needs are met, is often paid less than a supermarket worker.” I agree with every word. Let us be honest about the cost of social care. We need a cap on care costs. We need to increase tax or national insurance contributions as an insurance against future costs. We need to learn from the low transaction and bureaucracy costs in the NHS, make the same provision for social care and end the artificial divide.
We now have a Labour metro Mayor in the west of England, so I hope that we make progress on training and educating local people for the jobs that come from a green recovery. We have been left behind in recent years. The Tories have been good at scrapping green initiatives, but putting nothing in their place.
I would like to make two further points. First, I am co-chair of the all-party parliamentary group on choice at the end of life. I would like to see this country have a compassionate law on assisted dying, rather than only people who have £12,000 being able to make the choice for themselves. The statistics that have now been commissioned by the Secretary of State on the number of dying people who end their own lives by suicide alone would be really helpful for that debate.
Secondly, I welcome the inquest findings into the events in Ballymurphy in 1971 and the vindication of those families who tried to clear their loved ones’ names. The Prime Minister must now apologise, after 50 years, and accept the failings of successive UK Governments under successive Prime Ministers that have caused such untold damage.
There is something deeply unsavoury about a Queen’s Speech that ignores issues such as social care—happy to allow millions of citizens to face the uncertainty of those end-of-life years—and younger adults, but that is instead far more concerned with denying millions of people their democratic rights. It tells us everything we need to know about this Government, and their priorities and values.