Autumn Statement

Rehman Chishti Excerpts

Wednesday 3rd December 2014 Commons Chamber

[Mr Osborne]

I actually talked about tax receipts and earnings early on in the statement. I pointed out that although tax receipts were lower, crucially they were offset by lower debt interest payments, which is why we have not seen the big deterioration in the public finances that was forecast. Borrowing was lower towards the end of the period than was forecast at the last Budget; the surplus is higher than predicted; and the structural deficit is on course for the reductions we set out. That is because although tax receipts were lower, debt interest payments were also lower.

[Rehman Chishti (Gillingham and Rainham) (Con)]

I very much welcome the Chancellor’s statement, and I would like to thank him for the previous measures he introduced, which have led to youth unemployment going down and overall unemployment going down in Gillingham and Rainham, with businesses and jobs going up there. Linked to that, I thank the Chancellor for the £30 million previously given to Medway through the growth deal to support the infrastructure. Linked to that, I thank him today for the specific support given to small businesses, which are at the heart of my constituency, in creating jobs and prosperity. Linked to that, I thank him for his visit to MEMS Power Generation in my constituency, which was very much appreciated.

[Mr Speaker]

The hon. Gentleman can also thank me for my indulgence.