Capital Gains Tax (Rates)

Lindsay Hoyle Excerpts

Monday 28th June 2010 Commons Chamber

[Sarah Newton (Truro and Falmouth) (Con)]

I think that I will be the last person this evening to make their maiden speech—[Interruption.] No, I am sorry—I stand corrected. I am the penultimate person to do so.

Having grown up in Falmouth and having been confirmed in Truro cathedral, it is a real privilege to stand here today as the first MP for the new constituency of Truro and Falmouth. I am particularly pleased to join today’s debate, in which we are discussing the important contribution that many of the measures in the Budget will make in enabling enterprise to prosper in my constituency.

My immediate predecessors will be well known to Members of this House. Matthew Taylor served for more than 20 years as the Member for Truro and St Austell, and he played an important role in highlighting the issues of living and working in the countryside of Cornwall in his well-respected Taylor report. As chairman of the National Housing Federation and a director of South West Water, as well as serving in the House of Lords as a Lib Dem peer, he will be able to continue his work on the issues identified in his report. I look forward to helping him to take the words from its pages and put them into action, especially in delivering truly affordable homes for local people to buy or rent.

Julia Goldsworthy served as the Member for Falmouth and Camborne in the last Parliament, and she has recently returned to the Westminster to work as special adviser to the Chief Secretary to the Treasury. Her work in creating the Sustainable Communities Act 2007 is noteworthy, as is her dedicated campaigning work for NHS services in Cornwall. I look forward to working with her in her new role.

I have often heard colleagues in this House refer to Cornwall as part of the Celtic fringe; no doubt that is intended in a humorous way. While I am very proud of the Celtic culture, sports and traditions of Cornwall, there is absolutely nothing “fringe” about Cornwall or its people. Cornwall throughout the ages has been, and will continue to be, at the cutting edge of important national developments, as well as being at the centre of key moments of our history. The industrial revolution started in Cornwall, and Cornwall is leading the new industrial revolution—that of delivering the renewable and sustainable energy that our future economic security and growth will depend upon. Cornwall’s pioneering and inventive people and enterprises are ready to rise to the challenge of delivering a low-carbon economy and secure energy supplies. They need a Government who understand how to create the right market conditions for enterprise to succeed. I believe that this coalition Government have the determination to do this, and so to unlock potential in Cornwall.

My constituency is a slice of central Cornwall running from the north to the south coasts. It includes Cornwall’s administrative, retail and media centre and its only city—Truro. The Royal Cornwall hospital, the only acute hospital in the whole county, is in Truro, along with the Peninsula medical and dental school. I am grateful for the dedication of the staff in our NHS in Cornwall and the people who work hard in all our public services.

Cornwall has benefited from EU objective 1 funding, and now convergence funding, which has helped to develop the knowledge-based economy. Combined Universities in Cornwall has enabled people of all ages to access the opportunity to undertake higher education and obtain new skills. University College Falmouth is a world-leading arts organisation.

Throughout the constituency are very many beautiful villages, from the rugged splendour of the north coast villages of St Agnes and Perranporth to the no less beautiful but gentler coastline of the Roseland peninsula. As hon. Members will be aware, tourism is an important industry in Cornwall. Thanks to local farmers and fishermen, there is a thriving and growing local food scene, which comes together into some mouth-watering food festivals enjoyed by locals and tourists alike. I am delighted that the new coalition Government recognise the importance of farming and fishing to our national food security.

In the hinterlands of the constituency are the ruins of many of the mines for which Cornwall is famous. As a descendant of Cornish miners, I am particularly pleased to see renewable energy enterprises developing in the ruins of the old tin and copper mines. Cornwall has the hottest rocks in the UK and is a natural location for geothermal energy production. That, combined with our rich tradition of engineering and inventiveness, provides an ideal environment and ideal skills to develop that sustainable form of energy. Geothermal Engineering Ltd has submitted a popularly backed planning application to Cornwall council and if it is successful, we will see the first commercial geothermal energy plant in the UK, which will produce 10 MW of renewable energy to be fed into the national grid.

Nearby, at the former mine of Mount Wellington, is Kensa Engineering, an award-winning manufacturer of ground heat pumps that works with social housing providers across the country to deliver low-carbon energy and at the same time lift people out of fuel poverty. I am delighted that the coalition Government have stated their support for renewable energy incentives. I believe that the Government’s priority, as set out in the Budget, to enable more business finance and financial support for the low-carbon economy, will help support excellent low-carbon companies and energy providers such as those in my constituency. The Government’s emphasis on the need for economic growth to come from the private sector will also, I believe, create a better environment for the many businesses that already contribute so much to the local economy, particularly at Falmouth port.

Falmouth is not only important to the economy of Cornwall as the third-largest natural harbour in the world, it is of strategic importance to the UK. Falmouth has a long and proud maritime history and, as the most westerly port in the Atlantic gateway, has been at the centre of trade since ancient times. As ships for all purposes, including those needed to service marine renewables and the Navy, are getting larger, the deep waters of that safe haven are ever more important to the nation, not just to Cornwall.

I understand that many of the measures in the Budget will be tough for people living and working in my constituency. I do, however, believe that by taking the brave decisions in this Budget—

[Mr Deputy Speaker (Mr Lindsay Hoyle)]

Order.