(7 years, 9 months ago)
Commons ChamberIt is certainly the case that at the time of the last general election the referendum had not taken place. Indeed, if a Conservative Government had not been elected a referendum would not have taken place. The hon. Gentleman knows and understands that very well. I have explained today how we approached the manifesto commitments, how we delivered them into law and how we have reviewed the way they are seen in the light of representations from colleagues.
There has been much talk about the manifesto. This is the manifesto that promised to protect the elderly. In delivering an extra £2 billion for social care, does the Chancellor agree that those of us on the Government Benches need to support him when he makes difficult decisions to raise the cash? The alternative is putting future generations into horrendous debt.
My hon. Friend is exactly right. As I have already said several times today, we will not adopt the convenient ruse the right hon. Member for Hayes and Harlington has of pretending that we can borrow for everything without any cost. If something needs doing, such as funding our social care system, we have to be prepared to pay for it. Simply pretending that we can borrow for it and pass the debts to our children is not a credible fiscal position.
(8 years, 1 month ago)
Commons ChamberI am sorry to have to tell the hon. Lady this, but we live in the real world, where people will be employed only if employers can afford to take them on at the wage rates they have to pay them. Getting these young people into the culture of work is the most important thing we can do for them, for the rest of their lives.
In East Sussex, we have the challenge of a large social care bill for an ageing population and low business rate returns to pay for that. I am aware that the Chancellor will not be allocating county money, but may I ask that his £23 billion investment fund is allocated with East Sussex’s financial and demographic challenge in mind?
I am afraid I may have to disappoint my hon. Friend, because the £23 billion is specifically targeted at productivity-enhancing investment in R and D and infrastructure. That is because we judge that, with our level of debt, to be credible in the markets, we have to borrow only for that kind of additional productivity-enhancing investment, and it will go into network investment, R and D and innovation.
(8 years, 5 months ago)
Commons ChamberSince this is our first outing together, let me take the opportunity to make it clear to the hon. Gentleman that I do not believe in the money tree; I am clear that we have to pay our way in the world. We have a very large fiscal deficit that we have to address, but while doing that we also have to ensure we maximise the productive capability of the UK economy. That means targeting our investment into skills—that does largely mean young people—and infrastructure, and encouraging capital formation in private businesses.
T2. Last year, the former Chancellor came to Hastings and committed to extending high-speed rail from Ashford to Hastings and Bexhill. This investment is the key to delivering local housing, a labour market and business expansion. I welcome the Chancellor to his position and ask for his commitment to this vital project.