argyrotsipi/train-dataset huggingface dataset:
The Economy — House of Commons, 2019-10-24
Topic: Labor
Nicholas Desmond John Smith (Labour, Centre-left): The Government have received over £4 billion from the mineworkers’ pension scheme, despite not having paid a penny in. With retired miners getting by on a pension of, on average, £84 a week, does my right hon. Friend agree that it is time for the Government to listen? This Queen’s Speech should announce a review of the scheme so that miners and their widows get a fair deal.
The Economy — House of Commons, 2019-10-24
Topic: Labor
John Martin McDonnell (Labour, Centre-left): Madam Deputy Speaker, I know that large numbers of Members are seeking to make speeches—I will take a number of interventions, but I will protect the time as best I can for others to speak Let me give my hon. Friend this assurance on that critical point: in our last Labour party manifesto, we promised that we would review the mineworkers’ pensions scheme—it is dear to my heart, because I was one of the administrators of the scheme soon after I left university, when I worked for the RMT—and we will review it because we want to lift miners and many miners’ widows out of the poverty that they now live in. We give that commitment I mentioned insecure work. There are now about 900,000 people on zero-hour contracts—up by 100,000 from a year ago—and real wages are still below pre-crisis levels. The Government like to talk about wage rises and wages rising at their fastest rate in a decade. It is a bizarre claim, because the Government have been in charge of the economy for the last decade, suppressing wages all through that period. According to the Financial Times, the UK was the only major economy where growth returned but wages fell. According to TUC calculations, since 2010, average pay has also fallen for 7.7 million low to middle-income earners, and 11.5 million middle to high-income earners. It is extraordinary that that was not even acknowledged in the Queen’s Speech—that we now have a low-pay, insecure-job economy that this Government have created over the last decade.
The Economy — House of Commons, 2019-10-24
Topic: Social Welfare
Ian Murray (Labour, Centre-left): What my right hon. Friend’s wonderful speech is proving is that Government priorities make a difference. The previous Labour Government lifted millions and millions of children out of poverty, and the Government’s priorities since 2010 have plunged them all back in again.
The Economy — House of Commons, 2019-10-24
Topic: Social Welfare
John Martin McDonnell (Labour, Centre-left): Let me put on record that we pay tribute to Gordon Brown for the work that he did during that period. He committed himself to lifting children out of poverty and, my God, he delivered it.
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
John Martin McDonnell (Labour, Centre-left): I said that I would limit interventions, but I accept that they can often be a job application, so I do not want to limit this job creation scheme that we are creating here—I wish the hon. Gentleman well in his future career The scale of human suffering and hardship inflicted on our people over the last nine years is never mentioned by the Government. The reason is that they would have to explain why our people have endured so much. They would have to admit that austerity was never—as we have said, and let us repeat it—an economic necessity; it was always a political choice. The choice the Tories took was that the bankers—their friends, many now populating the Government Front Bench—would never have to pay for the crisis that they had caused through their speculation. Instead, they determined—[Interruption.] The Chancellor of the Exchequer says, "You caused it"—this is the man who was selling the CDOs through Deutsche Bank. Deutsche Bank was a major contributor to the economic crisis that we faced—they have a nerve coming here blaming others, when they caused it. They determined that they would not pay for the crisis, but that the rest of our society would. They also took the view that they would never let a crisis go to waste, so they used it as the excuse to cut the taxes of the corporations and the rich. They have made £47 billion in cuts to our public services and, on their plans, they will have given away £110 billion in tax cuts to the corporations by 2022.
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
Lilian Rachel Greenwood (Labour, Centre-left): My right hon. Friend is making an excellent speech. Does he agree that perhaps one of the reasons why the Government are so anxious not to publish an economic impact assessment of their Brexit proposals is that it would show that our economy will suffer under their hard Brexit, that our public finances will suffer under their hard Brexit, and that the promises that they have made about investment in our police, our schools and our health service could not possibly be met under those Brexit proposals?
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
John Martin McDonnell (Labour, Centre-left): Although the Government will not publish their economic impact assessment, others have made such assessments, and have concluded that a hard Brexit could cripple our economy in the short and long term. We need to have a proper debate in the House to consider the consequences and discuss what amendments can be made to protect our economy.
The Economy — House of Commons, 2019-10-24
Topic: International Affairs
Albert Owen (Labour, Centre-left): My hon. right Friend is absolutely right about those economic impact studies. Has he had any conversations with the Welsh and Scottish Governments about the huge impact that a border in the Irish sea will have on Welsh and Scottish communities? It appears that the Government have not done so.
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
John Martin McDonnell (Labour, Centre-left): Is it not interesting that virtually every Government apart from this one are willing to undertake an impact assessment of some sort? What does that display? I am not usually a suspicious person, but I think we have our suspicions Let me say to the Chancellor that he has a role to play in shouldering his responsibility to provide us all with the fullest possible information on the basis of which we can make our decisions. That means publishing a full economic impact assessment and doing it fast, so that we can have a proper debate As the Government have a working majority of minus 45, it is obvious that the Queen’s Speech is little more than a pretty crude election stunt. In all their various comments in the House and the media, the Prime Minister and the Chancellor have depicted their programme as "the people’s priorities". As a political artisan, I can admire a good turn of phrase—
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
John Martin McDonnell (Labour, Centre-left): I have been here for 22 years. That is a long apprenticeship—and sometimes the apprentice can point out the truth as well As I say, I admire a good turn of phrase, and I congratulate the creatives in whatever PR agency the Conservative Party now uses for coming up with that one—it must have tested very well in the focus groups—but that is all it is: a slogan, a turn of phrase. The reality, as demonstrated in the Queen’s Speech, is that after something approaching a decade of harsh and brutal austerity, a few cynical publicity stunt commitments to paper over the massive cuts in our NHS, schools, policing and care will go nowhere near what is needed. A slogan will not suffice People know—and this is relevant to the Brexit debate—that if the economy hits the buffers again, as a result of Brexit, economic mismanagement by the Tories or both, and when a choice must be made by the Tories about who will pay, they will always protect their own: the corporations and the rich.
The Economy — House of Commons, 2019-10-24
Topic: Social Welfare
John Martin McDonnell (Labour, Centre-left): I met members of the Women’s Budget Group again yesterday, and they said that 86% of cuts were falling on women. Our society remains patriarchal, and many caring responsibilities still fall to them. Cuts in social care undermine the basis of support for many elderly people in particular, and that falls on the shoulders of women. This is what austerity has done over the last nine years. We are committed to providing free personal care for everyone, and that is what we will do.
The Economy — House of Commons, 2019-10-24
Topic: Social Welfare
John Martin McDonnell (Labour, Centre-left): Tragically for so many at the lower levels, all those tax cuts have been cancelled out by cuts in benefits and the introduction of universal credit. Some of the most vulnerable, particularly disabled people, have been forced to the wall as a result of the brutal implementation of the work capability assessment and the scrapping of the independent living fund. There is a litany of attacks on ordinary working people that Labour Members should consider a disgrace.
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
John Martin McDonnell (Labour, Centre-left): No, I will press on. I understand that we are short of time The Tories will indeed protect their own. Under them, it will always be the people who are burdened with cuts in services and pay and benefit freezes. What people need now is real change. They need real change in our economy, so that we can face up to the existential threat of climate change through Labour’s green industrial revolution; real change to provide the scale of resources that our NHS, our schools and our police services need, funded by a fair taxation system in which we will tackle tax evasion and avoidance; real change to bring forward the scale of investment that our infrastructure needs to compete in the global economy and meet the challenges of the fourth industrial revolution; and real change to ensure that our people share in the prosperity that we will create through decent wages, ownership and an end to the rip-off of privatisation Only a Labour Government can bring about the real change that our country needs after a lost decade under the Tories. What does that say? It says that it is time for a Labour Government.
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
Susan Elan Jones (Labour, Centre-left): I knew I had a sense of déjà vu when I heard the Chancellor speak, and I remember from when: it was from when I was a child listening to "Jackanory." This is exactly the same: story time. The previous Prime Minister published a proper economic assessment of her Brexit deal; why will this current Prime Minister not do the same? For heaven’s sake, just answer the question.
The Economy — House of Commons, 2019-10-24
Topic: Social Welfare
Ruth Stephanie Nicole George (Labour, Centre-left): The Chancellor said that the economic prosperity has been delivered by the hard work of the British people. Does he agree that that is the 14 million people who are now in poverty and the 4.5 million children who are living in poverty, and why is his Queen’s Speech silent on how to lift those people out of poverty and end what he calls their hard work?
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
Rushanara Ali (Labour, Centre-left): I just wanted to highlight the brass neck of the Chancellor, having worked in the banking sector, not to accept that it is the banking crisis—the clue is in the name. He then came into Parliament and presided over dreadful, drastic cuts on our constituents—police cuts, school cuts; the list goes on. Now he has the brass neck to say that it is all going to be fine—that we can have our cake and eat it. Having damaged people’s lives, he should take responsibility before he starts attacking the Labour party.
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
Clive Stanley Efford (Labour, Centre-left): There is a real credibility gap in what the Chancellor is saying, because if austerity was the right thing to do in 2010, why is it not still the right thing to do now, given that debt has doubled to £1.8 trillion or 80% of GDP? How can we believe that the Government intend to go on this huge spending spree when they have been doing quite the opposite to try to tackle the problem? The Chancellor is keen on quoting the Institute for Fiscal Studies, but it predicts that we will need another dose of austerity if he carries on. This economy needs investment, not the austerity that the Government are planning.
The Economy — House of Commons, 2019-10-24
Topic: Foreign Trade
Catherine McKinnell (Labour, Centre-left): I am sure that the Chancellor is correct that some parts of the economy will benefit from a number of the changes, but other parts of the economy, particularly in the north-east, will be heavily damaged by the plans that he is outlining and that are outlined in the deal. The north-east exports over 60% of its goods to the EU, and hurting that relationship will be hugely damaging to our region. He does not seem to be taking any account of the disparate regional impacts around the country.
The Economy — House of Commons, 2019-10-24
Topic: Energy
Albert Owen (Labour, Centre-left): The hon. Lady makes an important point about different devolved Administrations going at difference paces, but we have actually seen cuts to energy-efficiency measures in England, whereas Scotland spends four times more on energy efficiency, Wales spends twice as much and Northern Ireland, which does not even have a Government, spends one and a half times more than the UK.
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
Vernon Coaker (Labour, Centre-left): This debate about the economy gives us an opportunity that the shadow Chancellor tried to take and the Chancellor missed, although the right hon. Member for Sevenoaks (Sir Michael Fallon) started to get to where I think this debate on the economy should be taking us. Let me explain what I mean. My constituents in all parts of Gedling—in Carlton, Arnold, Netherfield, Colwick and Burton Joyce—say exactly the same as is being said by many people in the country: that the system, as it is currently, does not work for them. They do not believe that the way the system operates is fair and they want something done about it. And what they want from this Parliament is a vision of an economy that is different from the way it functions now It is such a big issue that the Financial Times—the doyen of the City of London—recently ran an editorial that itself asks the question, "How to build a more responsible capitalism" It talks about how that can be done. I hope that the new Chair of the Treasury Committee will consider whether his Committee should look at how we are going to deliver a market system that regulates itself in a way that does not allow the excesses that we have seen. This is a quote from a Guardian report on the Panama papers: "Twitter and Facebook received hundreds of millions of dollars in investments that can be traced back to Russian state financial institutions…Aggressive tax avoidance by multinational corporations, including Nike and Apple…billions in tax refunds by the Isle of Man and Malta to the owners of private jets and luxury yachts." None of us, whether we are Labour, Liberal, Scottish nationalist or Conservative—whoever we are—can believe that is right. Where in the Chancellor’s speech did it say that whoever was in government they would tackle that It cannot be right that multinational companies are shifting a growing share of profits offshore—£600 billion in the past year alone. Then we turn to the people who HMRC pursues for a few pounds that they owe, or the Benefits Agency pursues for a few pounds that they owe. That is not the sort of society that people want. That is not the sort of society that people think is fair. The Sunday Telegraph, on page 5, laid into the way in which investment funds work. Nigel Woodford—I have never heard of him—
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
Vernon Coaker (Labour, Centre-left): Well, there you go—Neil Woodford. I have still never heard of him. We read about Terry Smith, Nick Train and Anthony Bolton, and millions of pounds of investors’ money. The money that we—hon. Members on both sides of the House—pay into savings, trust funds and pensions is put together and invested on our behalf by a system that has short-term interests and profit at its heart rather than the long-term benefit of communities. It cannot go on It cannot be right that my own brilliant BEIS Committee reported that the average FTSE 100 chief executive is on £4 million a year compared with the average worker on £30,000. It cannot carry on. All I wanted to hear was a Chancellor of the Exchequer who put at the heart of his Queen’s Speech contribution equality, a responsible capitalism, a change to the fast buck, and a change to those people who seek to make money rather than putting people first. That is what I wanted to hear and it was seriously lacking.
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
Adrian Edward Bailey (Labour, Centre-left): I would like to use the short time I have to focus on the issues of fiscal responsibility, public spending and public debt, which have been much debated in the Queen’s Speech, including by the Prime Minister and the Chancellor. I make it clear that I welcome the Government’s public spending commitments, which are long overdue. As they stand they are inadequate, but they are a step forward. However, what is significantly absent from the Queen’s Speech, and from any other pronouncement I have heard from either the Prime Minister or the Chancellor, is how they are going to be funded Will the Government’s public spending commitments be funded through economic growth? I doubt it. Last quarter, debatably, we were in recession. Even the most optimistic estimates reckon that we will be flatlining for months to come. Indeed, if we look at current investment in our manufacturing, which is so crucial to economic growth, the idea that we will fund them through economic growth is, quite frankly, fantasy. What about taxes? The Government are placed to reduce taxes; they are not demonstrating how they are going to increase them, so no information there. The fact is that the only alternative has to be borrowing and that is already looking pretty dicey. Even the current level of borrowing is an increase of 20% on the previous year. The deficit is currently projected to be in the region of £40 billion this year. That is expected to rise to a deficit of £50 billion-plus, with the £13 billion we are committed to spend next year In a moment, I will come on to talk about the impact of no deal and even the Government’s withdrawal agreement. This is incredibly worrying, because there is no indication from the Government as to how we are going to fund all this. I welcome it, but it is potentially very damaging indeed The Government have not given any economic impact assessment of the withdrawal agreement. On the one hand, they tell us we have to decide within two days of debating, because we have had three and a half years of debate, but on the other they say, "We haven’t enough time to do an economic assessment." Perhaps someone can square those particular arguments; I cannot. Happily, a number of organisations have done an assessment, and they have made it clear that under the withdrawal agreement, we will potentially be £50 billion a year out of pocket—£20 billion more than the Office for Budget Responsibility estimates. We are heading towards the sort of debt levels that were portrayed under Labour as a prelude to economic apocalypse. Indeed, this argument was rehearsed again by the Chancellor of the Exchequer. I would like to know why something that was portrayed 10 years ago in such a light should suddenly have morphed miraculously into a springboard for some sort of economic growth in the halcyon years that will come post-Brexit. That does not make sense. The fact is that the Government were wrong in 2010 and they are wrong now. That is why I will vote against the Queen’s Speech.
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
Gerard Killen (Labour, Centre-left): The Minister shakes his head, but what has that actually done since it was set up? The Government have to get real, or millions of people—some of the most vulnerable in society—will be left behind in a so-called "cashless society" In conclusion, this is a completely unnecessary Queen’s Speech, which has wasted everyone’s time and will do nothing at all for my constituents in Rutherglen and Hamilton West.
The Economy — House of Commons, 2019-10-24
Topic: Macroeconomics
Peter Christopher Dowd (Labour, Centre-left): There were around 39 speeches today, so obviously I cannot go through them all, but I would like to thank the right hon. Member for Sevenoaks (Sir Michael Fallon)—although, given all the cuts we have had under the Tory Government, I am surprised it is not "Sixoaks"—for his support for Labour’s policy on share ownership. I also offer my congratulations to the right hon. Member for Central Devon (Mel Stride) on his appointment to the Treasury Committee, and commiserations to the hon. Member for Thirsk and Malton (Kevin Hollinrake) The right hon. Member for Kingston and Surbiton (Sir Edward Davey) said that the Liberal Democrats were the yellow party. They certainly were the yellow party, in that they did not stand up to the Tories when they were in coalition with them. That is the sort of yellow party they actually are. So I will not be taking any sermonising whatever from that shower at the back of me—none whatsoever. May I say to my hon. Friend the Member for Ynys Môn (Albert Owen), thank you for all the work that you have done, given that this is your last Queen’s Speech—and yours was an excellent speech too The Chancellor’s performance was excruciating. Judging by the faces of the Members sitting on his side of the House after he had made it, I thought I had walked into an embalmers’ and morticians’ conference. Thinking of the global banking crisis, does he not remember collateralised debt obligations—otherwise known as financial weapons of mass destruction? Has he forgotten that he had a great part in promoting them? That is the cause of the global financial crisis—reckless speculation, dependence on credit and grossly unequal distribution of income. It applies to this day. [Interruption.] Members on his side of the House may mutter all they want; that is the fact. They and their friends were the cause of the global crisis, not this side of the House—[Interruption.] Not this side of the House The topic today is the economy—an economy that the Tories are in the process of systematically wrecking. As many have pointed out today, after nine years in charge of the economy, their strategy has proven to be a total failure. Nine years of austerity, combined with Tory infighting over who can deliver the worst Brexit for our economy, has made us all poorer. Wages have stagnated. The queues at food banks have grown almost as long as the incoherent responses of the Prime Minister at PMQs.