Budget Resolutions and Economic Situation

Naz Shah Excerpts

Tuesday 21st March 2023 Commons Chamber

[Naz Shah (Bradford West) (Lab)]

Last week’s Budget was another example of sticking-plaster politics, in which once again working people paid the price. The OBR confirmed that the hit to living standards in the UK has been the highest since records began. Data from the Joseph Rowntree Foundation shows that one in five people in the UK are now in poverty. In my constituency, families are struggling to make ends meet. Over half of the children are in poverty and 22.3% of households are in fuel poverty, compared with 13.2% in the country as a whole.

The Tories will attribute their failure to the pandemic and the war, but the contrast between our economy and those of the other countries in the G7 is stark. The UK will be the only country that will see negative growth—no other G20 economy, other than Russia, is forecast to shrink this year.

The Government have neglected small businesses. There have been no plans to support them with their energy bills through this crisis, putting them and their workers’ jobs in a precarious position. I welcome the reform to childcare support, which is a significant expense to many families, but the policy does not come into place until 2025. The only permanent tax cut in the Budget, for the very top earners, might come as a shock, but it is certainly no surprise that the Conservative party remains true to its priorities: safeguarding the interests of the rich over the interests of ordinary people.

The Budget was another missed opportunity to provide support for struggling families in Bradford West and across the country. Once again, it fell short on delivering for the working people—another Tory failure to add to a pattern of 13 years of Tory economic failure. The UK and Bradford West need a Labour Government who will put working people first, promote growth and ensure that Britain unlocks its potential.

The Tory party, with no plan of its own, once again rehashes Labour’s policies, extending Labour’s plans for a windfall tax on oil and gas companies, Labour’s plans to cap energy bills for households, Labour’s plans for welfare reform, Labour’s plans to scrap extra charges for those on prepayment energy meters and Labour’s plans to scrap the rise in fuel duty. The Tory party should also consider adopting Labour’s plan for a national wealth fund. In fact, I reckon the Tories are ready for a Labour Government who deliver on Labour policies.

In conclusion, this is not a back-to-work Budget; this is the same old Tory Budget that fails my constituents and the rest of the country.