Budget Resolutions and Economic Situation — House of Commons, 2016-03-16
Topic: Macroeconomics
William Arthur Roger Mullin (Scottish National Party, Centre-left): Last night, I had the great honour of attending an Adjournment debate secured by my hon. Friend the Member for West Dunbartonshire (Martin Docherty-Hughes) in honour of all those who died and were affected by the Clydebank blitz. His was a quite remarkable speech Today, we turn to a much more miserable statement by the Chancellor of the Exchequer, heralding yet another attack on some of the most vulnerable in our society. People will be asking themselves what is going on in this society of ours, when a £1.2 billion cut can be made to some of the most vulnerable people in our society at the same time as yet more largesse is thrown before some of the richest in our society This Chancellor can be relied upon for two things: to cut, cut and cut again the investment in the ordinary people of this country; and to pile failure upon failure upon failure to achieve any of his targets, whether they be on debt, exports or even, as in this Budget statement, a significant downgrading of growth in our economy. Indeed, listening to the Chancellor I recalled the dictum of Albert Einstein that insanity is doing the same thing over and over again and expecting a different result. If ever we had a Chancellor who exhibited insanity, it must be this one The economy faces great challenges, including a lack of investment in key areas such as research and development, a lack of a coherent plan to tackle the problem of productivity in the economy, and a complete failure to address problems of extreme inequality, which are harming our economy. I was keen to listen to the hon. Member for Newark (Robert Jenrick), who I do not think is in his place, when he said that Ronald Reagan was his great hero. If Ronald Reagan was associated with the idea of trickle-down economics, this Chancellor has become synonymous with trickle-up economics. The poor and vulnerable are being asked to sacrifice themselves to feather the nests of the rich, the powerful and the undeserving in our society The hon. Member for East Antrim (Sammy Wilson) spoke wisely about the problems of inequality in our society. Growing inequality seems to be the only target this Government are capable of achieving, but it is not a target that anyone in a civilised society should be proud of. The right hon. Member for Don Valley (Caroline Flint) made a welcome speech about the initiatives she is taking, which I hope the whole House will be able to support, to make the tax affairs of large multinational tax corporations much more transparent. Much more needs to be done about how transfer pricing and the transferring of profits is undertaken. It does no one in our society any good to featherbed those who simply want to move their tax affairs to the most convenient location to avoid making their contribution to society I was pleased to see in the Red Book that some progress was being made on a possible city deal for Edinburgh and the Lothians, which affects my own area. There is also recognition that some progress is being made with regard to Inverness. I have to say, however, that the Government’s record in supporting potential city deals in Scotland is nothing short of shameful. Progress is far too slow and far too modest The Chancellor has also missed some of the great opportunities he has been presented with in recent weeks. Perhaps the greatest opportunity he missed was to address the problem of 1950s-born women, who are facing an attack on their pensions and retirement age. Surely, given all the money that can be found for the rich and famous, the Government could have done something for the people in our society whose retirement is being pushed back and back, with insufficient notice and consultation On growth, the Science and Technology Committee has noted that the European Council, as far back as 2002, adopted a target of 3% of GDP being spent on public—