Budget Resolutions

Olly Glover Excerpts

Wednesday 6th November 2024 Commons Chamber

[Olly Glover (Didcot and Wantage) (LD)]

Certainly, the Budget has been on the minds of many of my constituents. It was even a topic of conversation with the owner of Gurkha Sunkoshi when I collected an Indian takeaway last night. I will say more about the impact on small businesses such as his shortly, but let me start with the positives.

It is certainly excellent to see the Government commit to NHS investment, which has been the subject of a key Liberal Democrat campaign, including in my constituency. I also welcome the compensation for victims of the infected blood and Post Office Horizon scandals. I agree with colleagues who have highlighted the point that the increase in carer’s allowance and SEND provision is welcome, but does not go far enough.

Nevertheless, there is much cause for concern for my constituents, particularly small business owners. GP and dental surgeries are concerned about rising costs as a result of increases to employer national insurance contributions and the minimum wage. Alas, so far, they have not received assurances of additional funding to match the liabilities that they will face. Of course, they run the risk of needing to reduce staff recruitment or even lay off staff, which could add to pressures on the local health service.

The same issue applies to the wider small business and high-tech sectors in my constituency—including Indian restaurants. My constituency has been assessed by the Startup Coalition as No. 16 in the country for new businesses, not least thanks to our high-tech business parks: Milton park, Culham campus and the Harwell science and innovation campus. Those businesses will be worried about the ability to grow because of the costs that they face. Many of my colleagues have highlighted concerns about the proposed family farm tax. The Liberal Democrats call for an extra £1 billion a year in support for farming communities.

It is on transport policy that the Budget most disappoints. Perhaps, given the proposed increase in the bus fare cap and the above-inflation increases to rail fares, the Government are under the impression that working families only use cars. A season ticket from Didcot in my constituency to London, plus travelcard, already costs around £7,000 a year. Those policies undermine the Government’s stated objectives on economic growth, climate change and reducing congestion. I also regret that there is no commitment to local rail schemes in my constituency, such as a new station at Wantage and Grove, and electrification between Didcot and Oxford.

Today’s election result in the United States emphasises the importance of managing the economy and public services so that people feel listened to and supported. My fear is that some of the Budget measures will have the opposite effect, but I genuinely wish the Government success, and hope that they will listen to and address the many concerns raised by the Budget.