Budget Resolutions

Victoria Collins Excerpts

Monday 1st December 2025 Commons Chamber

[Victoria Collins (Harpenden and Berkhamsted) (LD)]

Although there is much that I welcome in the Budget, overall I cannot help but be disappointed by a botched Budget that raises taxes to a record high and increases costs for businesses, while avoiding using tax levers on the largest, highly profitable corporations and ignoring our biggest lever for growth: a better deal with the European Union.

The Chancellor insists that this Budget ensures that everyone pays their fair share, yet it seemingly allows the biggest tech giants, such as Elon Musk, off the hook through the absence of a digital services tax announcement. Freezing income tax thresholds continues the Conservative tax legacy of hitting people with years of stealth taxes, together costing 10 million taxpayers an extra £67 billion a year by 2030. Behind those numbers are families and individuals still struggling as costs go up and earnings do not catch up.

One constituent from Gaddesdon Row told me that this Budget is

“disconnected from the reality that families are under pressure today”.

Earning just too much to qualify for targeted support but not enough to absorb rising costs, this constituent is being both overlooked and penalised by frozen thresholds. Another constituent, Harriet, a single mother from Berkhamsted, feels “unheard, unrepresented and unsupported” by the Chancellor’s Budget. Despite the fact that she is working harder than ever before, this Government keep squeezing her financially from every direction. This does not sound like a fair plan for working families.

This Labour Government were elected on the promise of lowering the cost of living and stimulating growth, yet for the second consecutive year they are targeting businesses and employment, the very engines of growth. Richard, from Brash Solutions in Berkhamsted, shares the view of many by saying:

“Once again, the Autumn Budget risks disincentivising entrepreneurs and small business owners by increasing taxes and eroding rewards for those who take daily risks to employ staff and drive economic growth.”

For Hugh, a business owner in Potten End, this Budget is

“another kick in the teeth”.

Charlotte from Gatwards says:

“The government appears to have completely abandoned their growth ambitions”.

Angela from HJP Chartered Accountants says that their clients feel that the Government are treating them like a “cash cow” and warns that if this continues, investment in the people of the United Kingdom will reduce. Daniel, a general manager in Berkhamsted, warns of the tens of thousands in pre-profit costs yet again being placed on businesses such as his.

The Government have done nothing to improve the situation for family farms. Also, last year we warned about the negative impact that the rise in employer national insurance contributions would have on jobs. Since then, I have seen charities and businesses in Hertfordshire let go of staff and establish hiring freezes. The Office for National Statistics has confirmed that fewer jobs are in the economy over the last quarter. We are ringing those alarm bells again. The Federation of Small Businesses has warned that nearly one in three small firms expect to shrink, sell up or shut down in the next 12 months.

I recognise that this Government inherited a difficult economic landscape after a decade of Conservative mismanagement. However, I still cannot get over the missed opportunities for a fair and growing economy. If the Government were serious about growth, they would back Lib Dem calls to boost high streets with a 5% VAT cut for hospitality, accommodation and attractions, something that the Robin Hood pub in Tring would very much welcome. They would also follow Lib Dem policies on reducing energy bills, which would go beyond the three years and look to halve energy bills by 2035. They would tax the big banks and social media giants properly, with a new windfall tax and digital services tax. They would also back Lib Dem calls for a better trade deal with Europe to repair the £90 billion Brexit black hole in tax income. That is how we would tackle the cost of living crisis, bear down on inflation, revive our high streets, grow the economy and deliver for our communities, with the fair autumn Budget that this Government have failed to provide.