Budget Resolutions

Tristan Osborne Excerpts

Tuesday 2nd December 2025 Commons Chamber

[Tristan Osborne (Chatham and Aylesford) (Lab)]

This Budget is about aspiration and investing in the future potential of the British people, from the health service to our small businesses to our high streets. It is about supporting infrastructure and development, whether in airports, roads or power generation.

While we are on the topic of astrology, black holes have recently been the subject of debate. I would simply point out to the Opposition that, although they are absolutely right to talk about black holes, maybe they can recall the situation in which they left this country after the last Parliament, with 11.5% inflation and 5.2% interest rates, rising gilt prices, and six Chancellors in five years. That shower, and the circus routine, have ended, and we now have stability with a Chancellor who is once again supported by the markets and engaged with businesses and across industry.

On the benefits for my constituents, not only will the headroom deliver much more market confidence, but the retail offer is reducing the pressures on the cost of living—from the £150 reduction in energy bills, supporting our manifesto commitment to reduce energy costs, to the freezing of rail fares, which will save an average of £320 a year for commuters from Chatham to London stations, and the engagement on free prescriptions, which will save thousands of residents across Kent and Medway money on their repeat prescriptions.

As many of my hon. Friends have said, the ethical mission of this Labour Government is to reduce poverty. The single act of scrapping the two-child benefit cap will reduce poverty by the biggest margin since the last Labour Government under Gordon Brown and the previous one under Denis Healey, and I am really proud to support it. In my constituency, 3,300 children will be lifted out of poverty by this move, and I think it is testament to the hard work of those on the Front Bench that we have been able to deliver that.

Lastly, this Budget is about building the foundations of a more confident, prosperous country. We have had no quarters under this Labour Government when we have not had growth, in contrast to the recession under the last Government in 2023. This country is growing and has stability, with a firm Chancellor who has a grip on the finances and is setting a clear direction for the future. I am proud, as a Labour representative, to support the Budget tonight.

[Several hon. Members rose—]