Budget Resolutions

Noah Law Excerpts

Wednesday 30th October 2024 Commons Chamber

[Noah Law (St Austell and Newquay) (Lab)]

I very much welcome the Chancellor’s Budget. It is a landmark Budget not just because it is the first Labour Budget in 14 years and the first Budget from a woman Chancellor in over 800 years, but because, as the Father of the House, the right hon. Member for Gainsborough (Sir Edward Leigh) referenced, of the intellectual change it represents. In that change, we are looking to enact a significant shift in the mindset of Budgets, from a no-can-do Britain to a can-do Britain; a Britain where we believe that investing is not simply a waste, but an un-blocker for private sector dynamism and investment of the kind that we so desperately need in Cornwall.

I welcome the commitment from the Minister for Industry, my hon. Friend the Member for Croydon West (Sarah Jones), to join a roundtable in the new year to meet the most promising industries in Cornwall. I am also delighted that our calls for structural funding, in the form of shared prosperity funding, have been honoured by the Government, particularly given the willingness of the previous Government to throw us under a bus, shipping young people on their not so merry way to a hare-brained national service scheme. I only wish that more Conservative Members from the previous Government were sat on the Opposition Benches to debate this landmark Budget with me this evening.

It is through the national wealth fund and GB Energy that we will be able to mobilise billions of pounds of private finance, de-risking investments to support critical infrastructure projects including in Cornwall, which will turbocharge the green economy and propel our country into the future. Our Labour Government will make sure we invest every penny of taxpayers’ money responsibly, prioritising our public services and ensuring that economic stability remains at the heart of decision making, and protecting working people from preventable economic shocks, such as those we have seen. We are driving forward the green industrial revolution at home in Cornwall and I am committed to ensuring that the spoils are spread among the community. Our investment in skills and infrastructure will empower local people and open up those opportunities for growth and innovation.

[Several hon. Members rose—]

[Noah Law]

This Government’s Budget—[Laughter.] I am actually making quite a brief speech, but I appreciate the eagerness of colleagues to lend their remarks to this landmark Budget debate. [Interruption.] I thank those sitting on the Front Bench.

This Government’s Budget signals a clear departure from the short-termism and sticking-plaster politics of the last 14 years. They are committed to taking long-term decisions to fix the fragile foundations of this country and secure a prosperous future for all. For St Austell and Newquay and the clay country, that means not just recovery but a real chance to thrive, ensuring that our communities are at the forefront of this transformation and benefit from a brighter, more prosperous future.