Budget Resolutions
Seamus Logan Excerpts(1 day, 11 hours ago)
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Seamus Logan (Aberdeenshire North and Moray East) (SNP)
I begin by asking the House a question. When I heard the Chancellor’s speech yesterday, I thought, “Is that it? Is this the Government’s best shot?” If the Prime Minister is planning to go to the country on the back of this Budget, I say, “Bring it on.” Yesterday the Chancellor delivered the gravest betrayal of the just transition in my constituency and in Scotland. Grangemouth, Mossmorran and now St Fergus—this looks like Thatcherism on steroids. Is anyone seeing a pattern here? The Chancellor did not even have the courage to spell it out in yesterday’s Budget, with the loss of Government support for Acorn hidden in the weeds of the Red Book.
While the Labour Government’s so-called “mature” carbon capture, usage, and storage projects in England and Wales get the go-ahead, their paltry offer to Scotland amounts to merely seeing how loans or equity investments can support the continued development of future CCUS, with specific mention of the Acorn site. In other words, the project will no longer be considered for direct Government money as part of the Government-funded track process.
Several hon. Members rose—
Seamus Logan
No, I am not taking interventions. A lot of people want to speak.
The Labour Government are prioritising £9.4 billion in England and Wales, but are not even managing £200 million for the Acorn project and the Scottish cluster. The rhetoric once again fails to match reality and instead reveals treachery in cold blood. I was promised a final investment decision by the previous Chancellor at the Dispatch Box. Where has that promise gone?
Trust in this UK Government from Scotland lies in tatters, as they renege on their commitment to the green transition and re-industrialisation in the north-east of Scotland. We have taskforces, reports, road maps and decisions to be made in the future. It is jam tomorrow. As one newspaper put it this morning, the sound we heard yesterday was the can being kicked down the road.
The Chancellor calls it capital reprioritisation, but his fancy phraseology hides the truth. Existing capital remains prioritised in Teesside and Merseyside. Why not Acorn in Scotland and the Scottish cluster? The UK’s net zero future, and thousands of jobs in Scotland, rely on the ability to cut industrial emissions. Acorn provides the country’s only viable CO2 transport and storage solution. Without it, key industries including energy, chemicals and manufacturing will face mounting costs, a loss of competitiveness and a major risk of job losses. Meanwhile, as the cost of living and the cost of food, fuel and energy spiral upwards, Scotland remains trapped in an economic doom loop under Westminster control. We estimate £650 million will be removed from our budget next year.
Where is the breathing space for households? When energy bills will soon be more than £1,000 higher than promised, the Labour party’s gas price hike will disproportionately increase costs for people in Scotland. What about the many people who rely on home heating oil in my constituency and across Scotland? They will not benefit from the changes on standing charges. Where is the help for those households facing enormous hikes in heating costs? [Interruption.] I know that Government Members do not like to hear it, but I am still going to say it. [Interruption.] Where are the transformative measures on child poverty?
Madam Deputy Speaker (Judith Cummins)
Order. I am struggling to hear the hon. Gentleman. Please let us hear the words being said.
Seamus Logan
Where are the transformative measures on child poverty? The UK Government only have to look to Scotland for inspiration and innovative policies to combat child poverty, such as the Scottish child payment.
Chris Murray (Edinburgh East and Musselburgh) (Lab)
Will the hon. Gentleman give way?
Seamus Logan
No. Where is Labour’s equivalent? Where is the full windfall tax on the banks? Just 3% for 15 months will not cut it, when £46 billion of profit was made in 2024.
Seamus Logan
I have already said no interventions, thank you. Where is the help for the Scottish whisky industry? Why is there nothing on fiscal drag and tax thresholds? Why is there nothing on VAT reduction for small hospitality businesses? Of course, the extent of the Barnett consequentials remains to be seen.
Devolution is fine for mayors, but what we need in Scotland is a fresh start with independence. That is why we in the SNP choose Scotland, not this tepid version of a Chancellor’s Budget. It is a wasted opportunity, a betrayal of our energy workers and a hopeless stab in the back for struggling families. The Government are robbing Peter to pay Paul. I will conclude by channelling the words of T.S. Eliot—words written more than a hundred years ago. This Budget was not so much a bang, but a whimper.
Several hon. Members rose—
Budget Resolutions and Economic Situation
Seamus Logan Excerpts(2 days, 11 hours ago)
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Graham Stuart
I am delighted. Only one thing is worse than fat, greedy, complacent, lazy banks—if that is how the hon. Member wants to characterise them—and that is broke ones, because once we have a bust banking system, the whole of society is stuffed. People cannot get on the housing ladder, start a small shop or get anywhere. That is why I plead with Labour Members, who I know have had little to do with private businesses—they have come from their charities, social work and trade unions, and have no understanding of business. It seems a populist thing to do to attack the banks, but in fact it hurts ordinary people and means that that small shop on the high street cannot take on the unemployed youngster outside.
Graham Stuart
I will not give way if the hon. Member will allow me.
What is happening to business investment next year? According to the Government’s own figures, it is falling. What is happening to the debt of the nation as a result of today’s Budget, compared with the position earlier in the year? It goes up in every year of the forecast—five years of additional debt, and it was already scary. Labour Members such as the hon. Member for Warwick and Leamington (Matt Western), whom I respect a great deal, and the hon. Member for Chesterfield (Mr Perkins) have been trying to say that this is a great Budget for entrepreneurs, but it is not. It is a Budget that allows a listing ship of state and the economy of this country to drift ever closer to the rocks. Year by year we will see debt going up, taxes going up and incentives going down, and without those incentives, those businesses in Beverley, Withernsea, Hedon and Skirlaugh, or wherever they are in my constituency, just cannot offer that job to that person.
To look at the specifics of the Budget, how is some of this being funded? The Chancellor skated over it as best he could, but he is going to tax amusement arcades. As if coastal towns such as Withernsea and Hornsea up the coast are not hurting enough, he is going put up tax on the entertainment of ordinary people going to the amusement arcade. He is an enemy of fun.