Kevin Brennan
Main Page: Kevin Brennan (Labour - Cardiff West)Department Debates - View all Kevin Brennan's debates with the HM Treasury
(14 years, 4 months ago)
Commons ChamberSupporting people with mental health problems through protecting the NHS budget is the best way to achieve the outcome that the hon. Lady suggests. There is also the Work programme, which is being developed by the Department for Work and Pensions to bring together and replace many of the employment initiatives of the previous Government, some of which were highly ineffective. Conditioned management of mental health problems will be part of that programme, which will help people with mental health problems back into work, which is, after all, the best route out of poverty.
15. In what sectors of the economy he expects the export growth forecast contained in the June 2010 Budget to be achieved.
The export growth forecast produced by the Office for Budget Responsibility did not break it down by sector. However, we know that in 2009 manufacturing accounted for just over half of our exports, so there is a big opportunity here. We currently export more to Ireland than to Brazil, India, China and Russia combined. That is why the Prime Minister met the Indian Commerce Minister earlier this month to talk about economic opportunities for us over there. Later this month, he will lead a taskforce of UK business men to India to investigate export opportunities.
I am afraid that the Minister has not seen this morning’s report from Cambridge Econometrics, which examines the effect of the Budget on manufacturing, and predicts a decline in manufacturing share and an expansion in the financial sector to its highest share ever. Is that what the Minister means by rebalancing the economy?
Many people would consider that a bit rich coming from a member of the last Government, given that manufacturing declined at a steeper rate under them than under the previous Conservative Government. We aim to support manufacturing and, indeed, companies throughout our country through a robust and ambitious corporation tax package, through progress on national insurance, and through largely getting rid of the jobs tax that the last Government would have introduced. What we would like to hear from the Opposition is more constructive discussion about how to improve our exports.
We have announced a pay policy that involves a pay freeze for people earning above £21,000 a year. People earning below £21,000 a year will have a pay rise of at least £250.
That pay rise will be pro rata, but people will benefit from the changes to tax credits, for example, and the significant increase in the child tax credit for those with children. That will help to ensure that many of the people with children in the hon. Lady’s constituency whom she is describing will not be driven into poverty, as they were in many instances were under the previous Government.