Budget Resolutions and Economic Situation

Matt Vickers Excerpts

Monday 8th March 2021 Commons Chamber

[Matt Vickers (Stockton South) (Con)]

In December 2019, the Prime Minister pledged to repay the trust placed in us by the people of Teesside. Despite fears that the economic pressures of the pandemic could blow that plan off course, they have not. This Budget delivered for Teesside. It was Teesside’s Budget—not only because we left more money in people’s pockets, freezing national insurance contributions, income tax, VAT, fuel duty and beer duty, but because we increased the national living wage and maintained the personal allowance so that those on the lowest incomes pay less tax. Not only are we backing individuals, we are backing business—extending the furlough, extending the business rates holiday, and introducing a super deduction to incentivise business investment and growth.

This Budget delivered amazing, life-changing investment specifically for Tees Valley. Since being elected, I have worked alongside the amazing Tees Valley Mayor, Ben Houchen, and my Tees Tory colleagues on a campaign to land a freeport for Teesside. It was incredible, therefore, to hear the news that Teesside would be home to the country’s biggest freeport, bringing £3.2 billion into our regional economy and creating 18,000 great jobs for local people. But the good news did not stop there. Our campaign to move the Treasury to Tees Valley has also won through, with incredible jobs that could be taken up by young people from my constituency. We will be moving decision makers up north to see what it means to live, work and play in Teesside—and, more importantly, how their policies impact on my constituents.

Then there was the incredible news that Thornaby was to benefit from a £23.9 million bucket of town deal funding. Thornaby is an incredible town, full of amazing people with bags and bags of untapped potential, skills and energy. They do not want a handout; they want a hand up. They want their fair share of opportunities that so many other towns have had—and with this money, they will get it. I have had the pleasure of sitting on a town deal board alongside local people, great independent councillors, business people, educational institutions, housing providers and others to look at how we can ensure that this money is spent to best effect and on the priorities of local people: tidying up our town centre, restoring pride in the heart of our community by getting rid of dilapidated and disused buildings like the Golden Eagle hotel and the old Npower office block; eliminating and improving substandard housing to make sure that every family can have a proper home; and developing a skills hub giving opportunities to people young and old to gain the skills they need to secure great jobs, and helping the people of Thornaby to unleash their full potential.

So yes, Wednesday’s Budget was Teesside’s Budget, and we are determined to make the most of the opportunities that this Government have presented us with.