Torsten Bell
Main Page: Torsten Bell (Labour - Swansea West)Department Debates - View all Torsten Bell's debates with the HM Treasury
(2 days, 15 hours ago)
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Kirith Entwistle (Bolton North East) (Lab)
The Parliamentary Secretary to the Treasury (Torsten Bell)
My hon. Friends are entirely right to focus on the need for more apprenticeship opportunities for young people. Reversing the 40% decline in youth apprenticeships since 2016 is a top priority. That is why the Government are investing £3.3 billion in apprenticeships, and why the Chancellor has announced the expansion of local apprenticeship services to all mayors.
Will Stone
In Swindon, Honda trained up about 170 apprentices over the years, giving young people real access to good, high-skilled, well-paid jobs. When Honda left, so did those opportunities. Will the Minister outline what discussions he has had with his counterparts in the DWP to ensure that Swindon gets better access to apprenticeships for young people in the future?
Torsten Bell
I thank my hon. Friend for his question; it is absolutely the right question. We all know that there are so many young people in our communities who would benefit from the clear transition from education into the world of work that an apprenticeship provides. We are supporting employers to provide that bridge, with a new £2,000 grant for small and medium-sized enterprises recruiting apprentices aged 16 to 24. That is in addition to the fully funded training costs for eligible young apprentices at all businesses.
Kirith Entwistle
Every year on A-level results day, I hold a youth drop-in event at Market Place in Bolton town centre to connect young people with the skills, opportunities and training that I benefited from myself. Every year, young people tell me that they would benefit from more apprenticeships. What further action is the Chancellor taking to work with employers, colleges and training providers to expand apprenticeship places and ensure that young people in constituencies like mine can access the skills and training needed for successful careers?
Torsten Bell
Let me congratulate my hon. Friend on her important work, and on what sounds like a feature of the calendar in her constituency. All parts of society have a role to play in tackling the challenges we face when it comes to young people’s participation in the world of work. When it comes to apprenticeships, we have already reformed the levy to make sure that there is £1 billion extra over this spending review period, which will provide 50,000 more young apprenticeships. I note that over half of the apprenticeship starts in her constituency involve young people, but we need to make sure there are many more in the years ahead.
Graham Stuart (Beverley and Holderness) (Con)
Construction is a key sector for apprenticeships, yet the 1.5 million target for homes has been dropped. In London, the city we are in, the Government are meeting just 5% of their target. [Interruption.] It is 5%. There are no apprenticeships coming through, and we see Landsec, Taylor Wimpey and other companies in London pulling back even further. When will the Government recognise that stamp duty is standing in the way of getting those apprenticeships going, getting those houses built and getting this economy growing once again?
Torsten Bell
Let me start on a point of agreement: I think that all of us in the House value the role of the construction sector and want to see more houses built. The right hon. Gentleman will know that we have introduced new foundation apprenticeships in the construction sector to get more young people into that route. In London, we do need to see more building. That is why we have announced a new package of reforms with the Mayor of London to make sure that we get the building rates up, but Conservative Members cannot stand in this House and say that they support house building, and then oppose every planning permission that comes forward for building in their constituencies. That is not what this Government will do. Those houses will be built.
Dr Roz Savage (South Cotswolds) (LD)
For a young person in a South Cotswolds village, the barrier to an apprenticeship is often just getting there. Buses are rare or non-existent, and the cost of running a car is out of reach on an apprentice’s pay. Will the Chancellor work with the Transport Secretary to cap bus fares at £1 and to fund more rural bus routes?
Torsten Bell
The hon. Lady is absolutely right to say that we want to see apprenticeships for young people in every part of the country, including in rural constituencies. That is why the Government have put in place the £2 bus fare in England, but we are obviously conscious that not everybody will be able to get a bus to their place of work, which is why the Chancellor has extended the freeze to fuel duty right the way through to next summer.
Patricia Ferguson (Glasgow West) (Lab)
The Parliamentary Secretary to the Treasury (Torsten Bell)
The Government are bringing down borrowing, helping to bear down on inflation to support households and businesses. Last year, borrowing fell by 0.7% of GDP to its lowest level in six years, and borrowing is forecast to fall across the forecast period to 1.8% of GDP by 2031-32.
Andrew Rosindell (Romford) (Reform)
Does the Minister understand just how devastating the effects of his Government’s spending, taxing and borrowing policies are for my constituents in Romford? Does he recall that the last time we had a Prime Minister who understood that we need low taxes, a smaller state and lower borrowing was in 1990? Then the national debt was 21% of GDP; now it is heading for 100%. Will he please reduce the size of the state, cut taxes for hard-working people and start to live within our means?
Torsten Bell
This Government are bringing down borrowing. That is why the IMF has said that the UK saw the biggest reduction in the G20’s deficit levels this year. It has said that the UK stands out for having a borrowing reduction plan, with borrowing falling every year across this forecast.
The hon. Member was of course a member of a Government who saw debt levels go through the roof over the past 14 years. This is a Government getting on with reducing our borrowing so that we can bring debt down in the longer term. The only numbers that Reform Members talk about is how many millions of pounds their boss can take from crypto-billionaires around the world. We will deal with the public finances. Stop taking money from the crypto-billionaires!
Dame Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)
Borrowing is high and I welcome some of the measures in the Budget, but we need to look at how every pound of taxpayers’ money is spent. Will the Minister reassure me that he and in particular his colleague, the Chief Secretary of to the Treasury, will be holding every spending Department tightly to account in the spending review, not just for future spending but for managing existing projects, so that every tax pound is spent as wisely as possible?
Torsten Bell
My hon. Friend is, as always, right. The Chief Secretary to the Treasury has heard every word she has said. There will be a spending review next year. It is important that we debate not just the levels of that spending, but how we ensure every single pound is spent well, whether on defence, health, education or anything else.
Richard Fuller (North Bedfordshire) (Con)
That was a shockingly complacent response by the Government Minister. The latest Office for Budget Responsibility forecast shows that this Labour Government will borrow nearly a quarter of a trillion pounds more in just two years, this year and next year, costing every household an extra £476 a year in additional debt interest. Does the Chancellor accept not only that was this Budget a lost opportunity to bring borrowing under control, but that Labour’s addiction to borrowing is bleeding the British people dry?
Torsten Bell
Our record is reducing borrowing. The hon. Member’s record is being a Minister under Liz Truss. What is the Leader of the Opposition’s big idea now? It is appointing the Liz Truss fanboy and coming back to the Liz Truss playbook, promising over £30 billion of unfunded tax cuts. The Conservative party is offering lettuce-wilting levels of fiscal incontinence.
Henry Tufnell (Mid and South Pembrokeshire) (Lab)
Ian Byrne (Liverpool West Derby) (Lab)
The Parliamentary Secretary to the Treasury (Torsten Bell)
My hon. Friend is right: nobody in our country should be relying on emergency food parcels. The Trussell Trust figures have shown falls over the last two years—for the first time since it has produced the data—but there is much more to do. I am happy to meet him.
Richard Tice (Boston and Skegness) (Reform)
The Parliamentary Secretary to the Treasury, the hon. Member for Swansea West (Torsten Bell), and the Chancellor have both inadvertently misled the House by saying that Government borrowing is coming down. It is not: in the Budget, borrowing for this year will be almost £20 billion higher than at the March OBR forecast; and for the lifetime of the Budget book, it will be £65 billion higher.
Torsten Bell
I know that the hon. Member is excitable at best, but borrowing figures in the OBR’s forecasts are falling every single year as a share of GDP, and they will fall because of the decisions made by this Labour Government, who are getting borrowing down and rescuing our public services.
Laura Kyrke-Smith (Aylesbury) (Lab)
Andy McDonald (Middlesbrough and Thornaby East) (Lab)
I welcome the Budget’s council tax rebate, which will provide much-needed relief to over 50,000 households in Middlesbrough and Thornaby East, but hardship remains. The Trussell Trust reports that local food banks distributed over 10,000 emergency food parcels last year—up almost 50% on pre-pandemic levels. Does the Minister agree that more ambitious action is needed, and will he ensure that the Government’s response to the Milburn and Timms reviews does not further restrict social security support, leaving people unable to afford the essentials, and instead advances Labour’s commitment to end the need for emergency food?
Torsten Bell
I absolutely agree with the point that my hon. Friend makes about reliance on emergency food parcels. In his constituency, over 90% of properties fall into council tax bands A to D, which means that residents will receive £100 directly in their bank accounts come January, in the coldest part of the year, but he is right to say that we must go further. That is why we will see 29 million households benefiting from the extended cut to VAT on electricity and 35 million motorists benefiting through extending the freeze in fuel duty. On the social security question he raises, that is also why we have ensured we are changing the support that goes to families with children, so that this Parliament sees the biggest fall in child poverty of any Parliament on record.
Sir Ashley Fox (Bridgwater) (Con)
The Government have said that they wish to join the EU’s internal energy market, which will involve a payment to the EU for the privilege. When will the Government say how much that policy will cost British taxpayers?
Martin Vickers (Brigg and Immingham) (Con)
Economic growth and investment in my constituency has greatly benefited following the creation of freeports and the associated tax benefits that come with that. Can Ministers give an assurance that any reset with our European partners will protect existing tax benefits?
Torsten Bell
One thing that has been less focused on in the Budget is that according to business investment figures across the country, we are seeing the highest level of business investment for a decade. Whole-economy investment is now at its highest levels since 1990. I recognise the point the hon. Gentleman raises, and freeports around the country want to know about that. Although the issues he raises are not on the agenda set out for the European summit, I am sure a Minister will be happy to meet him.
John Whitby (Derbyshire Dales) (Lab)
I warmly welcome last week’s announcement that business rates relief will be extended to thousands more cafes and restaurants, alongside further support for pubs. However, businesses such as the Village Green Cafe in Eyam face many of the same pressures as pubs, without benefiting from the additional targeted relief. Will the Chancellor consider what further support can be offered to those vital employers and community hubs to ensure that they are not placed at a competitive disadvantage?
Rupert Lowe (Great Yarmouth) (Restore Britain)
We spend hundreds of billions of pounds on debt interest, migrant accommodation, foreign aid, public sector fraud, benefits for foreigners and, let us not forget, the healthy indolent. We are leaving a record tax burden and a shameful £3 trillion of national debt to our children and our grandchildren. Let me say this in a way that even Members on the Labour Front Bench understand: we are bankrupt. My question to the Chancellor is this: is bankrupting Britain a consequence of Government policy, or is it now the actual objective?
Torsten Bell
Let me say two things to the hon. Member. First, it is absolutely right that the public finances be put on a sustainable basis, and that is what this Government are doing. We are bringing down borrowing every single year, and were praised by the International Monetary Fund for standing out from other G7 economies. Secondly, it is moral bankruptcy that Labour Members worry about when we see the behaviour of the hon. Member, who is whipping up division up and down this country, rather than bringing it together, saving our public services, and investing for the future.
Ms Julie Minns (Carlisle) (Lab)
I welcome the Minister’s acknowledgement that diversifying Cumbria’s economy is key to our economic growth. Will he therefore support efforts to realise the potential of RAF Spadeadam as a future hub for rocket testing and innovation?