Robert Syms
Main Page: Robert Syms (Conservative - Poole)Department Debates - View all Robert Syms's debates with the HM Treasury
The Economy
Robert Syms Excerpts(1 month ago)
Commons ChamberRead Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
Bim Afolami
My response is that this Parliament has seen an unprecedented hit to people’s living standards because of covid—a once-in-100-years impact. Might I remind the House that this Government spent £450 billion in supporting the economy? We supported people through programmes such as furlough, supported small businesses through discretionary grants, and supported the NHS. There are so many things that were opposed by the Opposition.
Labour Members mention borrowing and taxes. If it had been up to them, we would have been in lockdown for longer. If it had been up to them, we would have borrowed more. If it had been up to them, they would not have made the decisions that we had to make—tough decisions on public sector pay that meant that, by working in partnership with the Bank of England, we could bring inflation down. We are at an inflection point and not everything is complete—we are not there yet—but the economy is starting to turn a corner through the leadership of this Government.
Sir Robert Syms (Poole) (Con)
Over recent months, we have had a number of statistics on the economy that have been unalloyed good news for this country. It is good news that the economy is doing better, that inflation is down, that growth is up and that trade is up. That makes us all richer, and provides more jobs and employment, which should be rejoiced in by everybody in this House, including the Opposition, who might actually end up in government and inherit the benefits of some of the things that this Government are doing. In truth, I am always a little surprised by how miserable the Opposition get when good news comes along.
Bim Afolami
My hon. Friend makes an important point about those on the Labour Benches. I must admit that I disagree with him on one key point: the idea that they might inherit this. We are not complete yet. We know that the economy still needs to continue to turn and that inflation needs to come down. We hope that that will lead to falling interest rates in due course, and that the measures we have put in place will come to fruition over the next Parliament.