Budget Statement

Lord Hunt of Wirral Excerpts

Friday 12th March 2021 Lords Chamber

[Lord Hunt of Wirral (Con) [V]]

My Lords, I am proud to have the opportunity to pay tribute to a brilliant maiden speech by my noble friend Lord Benyon. It sets a very high standard for us all. My noble friend quickly made a significant impact as MP for Newbury. After a distinguished career, which he has already mentioned, in the Royal Green Jackets and in local government, he was Wildlife Minister for several years, and greatly respected as a man of principle, particularly when, on an important issue, he had the Conservative Whip removed—but only for a few weeks. I have to tell my noble friend that he is warmly welcomed on these Benches. We look forward to hearing his wise words and skilful guidance in future debates for many years to come.

I draw attention to the register, in particular my interest as a partner at DAC Beachcroft, the global legal firm. I strongly welcome this Budget. The furlough scheme has so far slowed the rise in unemployment but, sadly, sooner or later, we know that many jobs will be lost. When I became Employment Secretary in 1993 we were emerging from another short and sharp recession. A decade of supply-side reforms had given us the most flexible labour market in Europe, an advantage we still possess. We also had a range of creative measures to support people into work. I even went to the TUC, at the kind invitation of the noble Lord, Lord Monks, and gave an unprecedented commitment to full employment. I hope that this Budget will, in due course, enable this Government to proclaim a similar aspiration to ensure that every citizen can enjoy the dignity of work.