Autumn Statement

Marcus Jones Excerpts

Wednesday 5th December 2012 Commons Chamber

[Mr Osborne]

We have had to take difficult decisions. We have asked the rich to pay more—new stamp duty rates. We have had to take difficult decisions today on pensions tax relief for the largest pension pots. We have done all those things. We have also had to take difficult decisions on welfare. If the hon. Gentleman objects to those things, perhaps he can tell us whether he will vote against the welfare uprating Bill.

[Mr Marcus Jones (Nuneaton) (Con)]

In Nuneaton since May 2010 unemployment is down, youth unemployment is down, employment is up and we have seen a 22% increase in business start-ups in the past quarter alone. Does my right hon. Friend agree that we cannot be complacent and we need to do more, but that the autumn statement today will show that we are on the right track?

[Mr Osborne]

My hon. Friend is right that we are on the right track. We are making progress. To turn back would be a complete disaster. I congratulate him on speaking on behalf of the businesses that he represents. He has asked me what we can do on capital allowances for plant and machinery and on business rates for small businesses. I hope he can see in the announcements that we made today that we have been listening to him and to the people in his constituency.