Budget Resolutions

Rachel Hopkins Excerpts

Monday 11th March 2024 Commons Chamber

[Rachel Hopkins (Luton South) (Lab)]

Mr Deputy Speaker,

“The Budget is an opportunity for a Government to demonstrate their priorities, and what we saw yesterday is a Conservative Government content to oversee the managed decline of the economy”.—[Official Report, 16 March 2023; Vol. 729, c. 1049.]

It is nearly a year since I said those words about the Chancellor’s last spring Budget. What has changed? Quite simply, nothing. The Chancellor failed to announce anything that will significantly improve the lives of people living in Luton South and Bedfordshire. His Budget just lifted the lid on 14 years of Tory economic failure: a Conservative Government in their end days, bereft of ideas, lacking in vision, consumed by their own internal strife. We are heading for this being the only Parliament on record in which people will be on average worse off at the end than they were at the start. That should make Government Members feel ashamed.

I take issue with the Chancellor stating that the Conservatives bring down taxes, as the UK has its highest tax burden in 70 years and it will rise in every year of the Budget’s forecast period. All in all, what the Budget actually means for my constituents is that each household is now £870 worse off under the Conservatives’ tax plan. For every 5p given in tax cuts, 10p has been taken—giving with one hand and taking more with the other. The Conservatives followed that up by saying they had a plan to abolish national insurance contributions altogether: an unfunded pledge costing the taxpayer a gigantic £46 billion.

The reality is that the Conservatives cannot be trusted to run Britain. Public services are being run down, local government is on its knees and working people are battling the cost of living crisis, trying to make ends meet. Communities like mine in Luton and Bedfordshire know that that is not just the story coming out of the Budget; it is the continuing story of the Conservative party dismantling our communities and wrecking our economy over the past 14 years. For them, it is always party first, country second.

The biggest issue that my constituents contact me about is the lack of affordable housing to rent and council housing waiting lists, yet in this Budget the Chancellor has wound down the scheme for extra funding for the delivery of social housing and ended the policy of letting local authorities keep 100% of revenues from the sale of council homes to help them build more. That will heap further pressure on our already overstretched, underfunded local authorities, and it will do little to help families living in overcrowded, poor-quality, insecure housing.

As I said in my Budget speech a year ago, the Budget represented a huge opportunity to break from years of stagnation and unlock Britain’s potential, but that opportunity was well and truly ignored. I may sound like a broken record, but the reality is that we have a broken Government who simply are not up to the challenge. It is our job in this place to advocate for policies that enable our constituents to live a good, fulfilling life. That means a good job, a secure home, safe streets, quality public services and a thriving economy. The Conservatives have failed on all counts.

Enough is enough. People in Luton and Bedfordshire need a change in government. Instead of the chaos and recklessness under the Conservatives, Labour is ready to fight for the living standards of working people and to deliver a sustainable plan for growth. We will rebuild our ability to make, do and sell more here in Britain, so that we are less exposed to global shocks. We will strengthen the powers available to local communities to regenerate their high streets and town centres. Our plan also backs British business through a new industrial strategy to maximise Britain’s strengths in the life sciences, the digital, creative and financial industries, clean power and the automotive sector. That is the bright future that Luton, Bedfordshire and Britain deserve. It is time to quit the uncertainty and call a general election now.