Oral Answers to Questions

Debate between Tobias Ellwood and Neil Carmichael

Tuesday 20th January 2015 Commons Chamber

[Mr Ellwood]

The Department for International Development is contributing an awful lot of funds, and we participated in—indeed, I attended—the donors’ conference in Cairo. However, the hon. Gentleman is right to point out that Hamas is having a disruptive effect on the process. I have visited Shujaiyya in Gaza, and I have seen the destruction that has resulted not just from the conflict in the summer, but from previous conflicts as well. The cement is starting to move in following the conference, and we do not want it to be used to build more tunnels.

[Neil Carmichael (Stroud) (Con)]

8. What recent discussions he has had with his EU and US counterparts on progress in negotiations on the proposed Transatlantic Trade and Investment Partnership.

Amendment of the Law

Debate between Tobias Ellwood and Neil Carmichael

Thursday 20th March 2014 Commons Chamber

[Mr Tobias Ellwood (Bournemouth East) (Con)]

It is the afternoon after the day before. The metaphoric bunting has gone, the media have left Westminster Green and the Chamber and, indeed, the Galleries have emptied—but that just might be because I am on my feet. This is the point at which enough time has elapsed to appreciate the full impact of the Red Book. If the newspaper headlines, radio interviews and a very weak Opposition response are anything to go by, this Budget is standing up to scrutiny and is already being recognised as a significant statement of intent, building on this Government’s long-term economic plan of reducing the deficit, creating more jobs and making people more financially secure.

The Chancellor began his speech by reminding us of the scale of the economic mess we inherited, caused by banks lending funds they did not have to people who could not afford it in ways they did not understand. It has taken a new Government completely to reform the regulatory system and to introduce the necessary changes to make Britain competitive again. Unlike the predictions from the Opposition, this was achieved without any double or triple-dip recessions in sight, as my hon. Friend the Member for Gloucester (Richard Graham) said.

The first primary indicator for the economy is employment, and a record number of people are now in work. The figures from my constituency point to the fact that the number of unemployed claimants for last month fell to 1,785, down 487 from a year ago. The shadow Chancellor tried to suggest that youth unemployment had somehow increased. He wants to be Chancellor. He wants to be the person in charge of the numbers, but he fails to mention that the figures include full-time students. I am pleased to say that the number of students at Bournemouth university, the Arts University Bournemouth and Bournemouth and Poole college have increased. They are included and he should know that.

[Neil Carmichael]

The same is true in my constituency. We have falling unemployment and we are looking for more people with engineering skills. Does my hon. Friend agree that the real success of this Government is the way in which they have stimulated the real economy?

[Mr Ellwood]

Absolutely. I concur with my hon. Friend, and that is one reason why more money has gone into apprenticeships as well.

My second point concerns GDP growth. A year ago, the OBR predicted growth for 2013 at just 0.6%. In fact, it came in at three times that level, and the forecast for next year has changed from 1.8% to 2.4%.

Thirdly, inflation now sits at 1.9%, well within the range set by the Bank of England. Fourthly, thanks to our low interest rates, the cost of borrowing by individuals, banks and the Government is low. But, of course, low interest rates are not so welcome to savers, hence this important announcement to end compulsory annuities, making it cheaper and simpler for pensioners to draw down their savings.