Amendment of the Law — House of Commons, 2015-03-23
Topic: Macroeconomics
Neil Carmichael (Conservative, Centre-right): It is a great pleasure to participate in this debate. This is a good Budget not only because it is fiscally neutral, as my right hon. and learned Friend the Member for Rushcliffe (Mr Clarke) has said, but because it underlines the fact that the long-term economic plan is producing solid results. It has been endorsed by none other than President Obama, who has pointed out that the UK and US economies are the only two that are really growing, so we must be doing something right. It has also been endorsed by the OECD, which has noted the solid performance of our strategy and suggests that we should not turn away from it. The Institute for Fiscal Studies has also pointed out that living costs are now becoming more favourable. That is the overall background The plan is good for another set of reasons. First, it is making sure that getting a job is a good thing, which is what we want to see. I inherited 1,488 unemployed people in my constituency, but we have got the figure down to 551. That is fantastic and exactly the direction of travel we should be taking. It is part of the strategy we have pursued, and that was underlined in last week’s Budget We need more savings and we need to turn the economy into a saving economy rather than one of debt. The actions taken to encourage not only pensioners to save, but young people to save for mortgages, are absolutely fabulous. Our course is absolutely right and we can only conclude that we have cause to celebrate The Budget is also about rebalancing the economy and creating a real economy that actually makes and sells things. We need infrastructure not only to enable our manufacturers and engineers to operate, but to promote and save the environment. That is why I was really pleased that the Chancellor recognised the need for more investment in my constituency to defend our land and houses against flooding. That is appropriate because it is both a real economy activity and worth while Training and education is another big area. I have been campaigning for some time for a university technical college in my constituency and we are going to get one on the site of the old Berkeley power station. This Government are committed to training, because it makes it possible for people to get jobs that last and that are highly skilled and worth while. That is exactly what the Secretary of State for Work and Pensions said earlier: 80% of all new jobs are full time and 80% are highly skilled. That is what we want to see, and that is what I am seeing in my constituency. The situation has been buttressed by the performance of our economy and strengthened by the Budget I have also been campaigning for action to make it easier for road hauliers to recruit and train drivers. The Chancellor has helpfully responded by signalling in the Budget that that is exactly what is going to happen Not only have I successfully campaigned for a university technical college in my constituency; I have also been at pains to make sure that manufacturing and engineering are put under the spotlight and that schools and colleges work with business to make it a reality. We have to continue to attract investment, so what has the Chancellor done? He has made it easier and more attractive for businesses from afar to come to my constituency. That is absolutely brilliant, because we need high-tech modern businesses with plans to invest and the ability to translate research and development into products and services that people want I salute the overall approach the Chancellor has been at pains to take over the past five years. The real problem is that we inherited an economy that was swamped by debt, which does nothing for investors, hard-working families, the unemployed or people who need proper care. The challenge was, "Where is the money going to come from and what are we going to do to solve the problem of debt?" The Government have done something about that.