Budget Resolutions — House of Commons, 2018-10-30
Topic: Macroeconomics
Anne-Marie Belinda Trevelyan (Conservative, Centre-right): It is a pleasure to follow the right hon. Member for Enfield North (Joan Ryan). Since the Chancellor sat down yesterday, much has been made by commentators of the question of whether austerity has indeed ended. However, surely that is the wrong question, because what the Chancellor’s speech set out yesterday was the most important point of all: fiscal prudence and careful financial management are what a good Chancellor should always focus his attentions on before all other things, so that when there is a need for more cash for urgent or unexpected events, it is possible to provide resources without jeopardising the long-term economic stability of our country Mr Deputy Speaker, I would like to apologise if I became agitated yesterday during the Leader of the Opposition’s reply to the Chancellor, but that was because it is so very frustrating to listen to someone who offers himself as a potential leader of our country but has absolutely no interest in its financial stability. His willingness to borrow "to invest", as he calls it, means simply a new vast mountain of debt, binding all our children and their future offspring to huge debt interest payments—real cash from real, hard-working taxpayers being used to service debt and therefore not being used for public services, for supporting those who cannot look after themselves, or for ensuring that we invest in the most advanced and flexible defences to protect and look after our constituents. He would rather enjoy the short-term self-gratification of handing out cash that we have not yet earned, but those who would suffer most are those who can least afford it. High interest rates would cripple people with mortgages. There would be a flight of capital investment from our business community, and the small and medium-sized enterprises and larger businesses that are the backbone of our jobs, and whose hard work and risk taking generate so much of the tax we need to pay for our public services, would stop investing, move abroad, and leave a Corbyn Labour Government to bankrupt our nation, as Labour has done before That is a scenario that Conservative Members—and, I believe, many on the Opposition Benches—cannot bear to consider for our constituents, who deserve so much better. The last eight years of fiscal rectitude have been hard, but we can now see the benefits of that graft, and the increasing tax take that the Chancellor can use to help to grow our economy and look after those in need. A stable economy means business investment, and that means real jobs, low interest rates and real investment in our public services The confirmation of £20 billion for our NHS is very welcome. I hope that the NHS five-year review will invest in local services and community hospitals, and address the rural sparsity factor, which has for too long been ignored by the centre There is the investment in the borderlands deal, a devolution programme that allows Northumberland and her neighbouring counties—regardless of the Scottish border, which is simply a line on a map as far as we in north Northumberland are concerned—to focus our investment on the areas of infrastructure and business sectors that we, as the locals, know will help to boost our economic growth most effectively. We will be able to work with our neighbours to achieve what those pesky border reivers never did: a coherent economic and cultural community based on geography and our natural assets; and, rather than fighting each other for personal gain, working together for us all in the most wild and beautiful part of our country The Chancellor’s commitment of £50 million for trees—funding to purchase carbon credits from landowners who plant qualifying woodland—is most welcome. This is real support to help those who commit to the slowest-growing crops: the trees that maintain good soil health; improve the water basin; reduce the risk of flooding in the valleys; and hold carbon dioxide while they are growing and then continue to be a carbon sink when they are harvested, with the wood used in housing and the wood trade It is excellent news that the Chancellor will be directing all road tax receipts into road investment and maintenance. That makes perfect sense and is welcomed by those who pay their taxes to use the roads every day. I had thought I might not be able to find a way to thank the Chancellor for his support, when he was Secretary of State for Transport, of my campaigning efforts to invest in the A1 through Northumberland in order to dual it and to make it into the safe and functional 21st century road it needs to be for local users, visiting tourists and businesses moving goods. He understands the investment concept of "build it and they will come". The first £300 million, which he committed, is now being spent to dual the first 13 miles. With the commitment to allocate £28 billion to the national roads fund, he can be assured that I shall be returning to discuss the dualling of the last stretch of the English undualled road between London and Edinburgh shortly. Before that, however, the commitment to general road maintenance and the battle against potholes is most welcome. Northumberland County Council looks after over 3,500 km of roads. The "beast from the east" managed to shred many of our roads earlier this year, so this commitment to spending the monies collected from road users makes real sense to us I am also most grateful that the Chancellor has heard the call from my most rural communities for investment to ensure that we can get decent broadband to every property and business, wherever it is. This will ensure that we have long-term solutions that use technology to reach everyone Most welcome, of course, are the cuts to income tax, which will mean that my constituents will each have a personal allowance of £12,500 from next April, as well as an increased national living wage of £8.21. Could nobody tell my son, because that will really excite him, given that he will have earned even more when he gets down to the pub at the weekend? There is much for our small businesses to benefit from. The Chancellor has made a commitment to Brexit and to giving all Departments the cash that they need to get ready for the changes that will need to be put in place I thank the Chancellor for listening to the voices of so many MPs about one of those areas of Government spending that most people take for granted and assume is all working fine. I believe that we need to talk about this area of critical national policy much more than we do. It is a public service like no other, because this public sector workforce puts its life on the line for us every day. The question of defence investment and why a comprehensive insurance cover is necessary is not a subject of conversation every day among mums at the school gate. However, every parent’s focus is on keeping their children safe, well fed, healthy, and able to have a happy and safe childhood, so how is it that the most important role for any Government to fulfil—protecting their population—is too often forgotten or ignored in polling and questions of day-to-day spending? It is our insurance policy, but we assume that everything is all okay. I therefore listened with pleasure to the Chancellor committing nearly £2 billion over the next 18 months to help the Ministry of Defence to ensure it can maintain all our capabilities to keep us safe. As we leave the EU, the one thing which remains fixed is our geography. We will remain, as we have always been, an island maritime trading nation—outward facing and trading across the globe. We need to keep safe the seas across which all our trade moves. We need to ensure that international waters are free of danger so that oil and other goods can move around the globe, whether they are British products being exported, or our imports into our thriving ports of the food in our supermarkets and the oil we need every day. Without the Royal Navy’s day-to-day invisible work, our economy would be profoundly affected. I am very pleased to support this Budget.