Budget Resolutions

Liam Conlon Excerpts

Wednesday 6th November 2024 Commons Chamber

[Liam Conlon (Beckenham and Penge) (Lab)]

Let me start by congratulating the Members who have made their maiden speech this afternoon: my hon. Friends the Members for North Ayrshire and Arran (Irene Campbell), for Stoke-on-Trent North (David Williams), for Sherwood Forest (Michelle Welsh), and for Ely and East Cambridgeshire (Charlotte Cane) made the first of many brilliant, I am sure, contributions to this House.

It is a pleasure to speak in today’s debate in support of the Budget presented last week. It was historic: the first delivered by a Labour Chancellor in 14 years; the first delivered by a female Chancellor, and, just as importantly, the first delivered by a Chancellor who went to school in Beckenham and Penge. On behalf of everyone in Beckenham and Penge, I congratulate the Chancellor, and I look forward to taking a signed copy of the Budget to her old school in Penge very soon.

Two fun facts about my constituency are that we have the second biggest percentage of rail commuters in Britain, and the most train stations of any constituency. We are a constituency of commuters, and the vast majority who board trains every morning go to work in private sector jobs across London. I know that life well, as it is exactly what I did before I was elected as the MP for my constituency this year.

A criticism levelled by Opposition Members is that Labour Members do not understand business. That is simply not true. For the decade before being elected, I worked in the private sector, first at PwC on the graduate scheme and later for two big tech firms. The private sector adds so much value to our country, and I am a passionate advocate of it. Private sector companies are an engine for innovation. They contribute to the economy, help us pay for vital public services and provide high-skilled, well-paid jobs—the sort of jobs that thousands of people in my constituency do, and want their children to do in the future.

In order for business to plan and invest, economic and political stability is vital, and businesses have been starved of that in recent years. We have had six Chancellors in just over three years, and sharp cuts followed by serious increases, and then further planned cuts. Corporation tax went from 28% to 19%, and then to 25%. They said that they were going to build key infrastructure; then they paused it, renamed it, announced it again, but could not tell us how they were going to fund it. They told us that Brexit would solve all our problems, but made a disaster of that too.

This Budget—like this Government, in sharp contrast to the one before—is serious about providing the economic and political stability that businesses in our country need to invest and grow. I am delighted to see investment in vital infrastructure, including Transport for London infrastructure, and a new, co-operative approach to working between my good friend the Transport Secretary and our excellent Mayor of London, Sadiq Khan. I have no doubt that that will be of great benefit to my constituents, including the thousands who commute across London each day and the businesses for which they work, and I look forward to supporting it later.