(2 weeks, 3 days ago)
Commons ChamberI will try to avoid a word salad. We have heard from various different industrial sectors how important it is to have stable and predictable energy costs. This month has seen little sun and only intermittent wind, so we have been heavily dependent on imported oil and gas. Are Ministers in the Department for Business and Trade challenging the Energy Secretary over his policies?
(2 weeks, 4 days ago)
Commons ChamberI am sure the Chief Secretary knows and admires the plan for growth of Conservative-led Worcestershire county council. It has been working through the plan, and it has built a new train station on the North Cotswold line, which connects Worcestershire to Oxford, but a lot of that line is still single track. Will he urge the Oxford growth commission to look at the extensive work done by Oxfordshire county council and Worcestershire county council to find a way to double the frequency of the train services on that stretch of track?
(3 months, 2 weeks ago)
Commons ChamberOrder. The hon. Lady has made it very clear that she is not giving way, so please allow her to continue.
Thank you, Madam Deputy Speaker. Anyone who has ever worked in business knows that they need to increase the productivity of their business, and investment in that business is linked to its profitability, profits that will fall as a result of the measures that have been imposed on business today. When we work out the numbers, I think those measures will equate to about 4p on corporation tax. This is a Budget of broken promises that will end up giving the British people less growth. Members do not have to listen to me to hear that: they can listen to the Office for Budget Responsibility, which forecasts a short-term boost to growth but a longer-term reduction in the sustainable growth rate of the British economy thanks to the measures that the Chancellor outlined today.
In the months since the Chancellor took office, we have seen the evidence. We have already seen businesses shutting at double the rate they were a year ago. We are already seeing a plunge in business confidence, and we have heard the former chief economist of the Bank of England say that the socialist narrative we have had since the election has generated
“fear and foreboding and uncertainty”.
This is a Budget of broken promises—a straightforward breach of promises to the British public—and it is a dreadful day for the British economy.
When we go through Hansard, I am sure we will see that the hon. Member did not mean to accuse another hon. Member of lying—changing that term to “misleading” would have been far more appropriate. No doubt the hon. Member agrees with me.
On a point of order, Madam Deputy Speaker. I referred to the Prime Minister’s words on national television, and I was quoting him directly, but if I have inadvertently misled the House, I apologise.
Thank you so much. That was an absolutely appropriate way to respond.