Budget Resolutions — House of Commons, 2017-11-23
Topic: Housing
Huw William Merriman (Conservative, Centre-right): It is a pleasure to follow the hon. Member for Reading East (Matt Rodda). On behalf of my constituents in Bexhill and Battle, I warmly welcome the Budget. I particularly welcome the additional investment in the NHS. In my part of East Sussex, being able to rely on the NHS is hugely important to my constituents, so a further £2.8 billion is very welcome indeed I also welcome the injection of £1.5 billion into the universal credit system. The jobs factory that has been created in the economy since 2010 has been without doubt the Government’s greatest achievement. We now have fewer people looking for jobs, and although some 1.4 million are looking for jobs, we have 780,000 vacancies. Universal credit is a brilliant way for us to tailor the package to meet the needs of those who are still unemployed and get them into the jobs system, so I warmly welcome that money, too I certainly recognise the challenges the Government have faced since 2010. It is welcome news that the deficit is now down to pre-crisis levels. In 2010, the deficit was at its highest level since the second world war. Nevertheless, I am concerned that the size of the debt has increased as we have had to turn this ship around. Although we are fortunate that, because of low interest rates, debt repayments have not increased despite the debt going up, I am conscious that the debt will have to roll, perhaps at higher rates in future, and, indeed, that £500 billion of it is index-linked. I am grateful that the Chancellor continues to keep an eye on ensuring that the structural deficit is fixed, because ultimately it will come down to whether or not we leave the next generation with a very large interest bill. If that bill is already greater than the education budget, it needs to be tackled before it gets ever greater What I really want to focus on is housing. The opportunity to own a home of their own is one of the greatest gifts that this Government can give to our young people. It is also a great investment for our public services. The reality is that when young people have the opportunity to own their own home, they will tend to earn more so that they can pay off their mortgages. As they earn more, they pay more taxes, which goes into public services and improves those as well. I am particularly encouraged by the Government’s commitment to deliver an extra 300,000 homes. I certainly support some of those being built in my constituency. I am very aware that, back in the ’80s and ’90s, one in three 16 to 24-year-olds were able to afford their own home. That figure is now one in 10. The figure for those aged between 24 to 35 was 59%; it is now down to 13%. Clearly, there is an absolute need to do more I also want to see my own local district council able to do more. Wealden District Council, which serves my constituency, is unable to build more homes because the habitats directive says that that would add nitrogen to Ashdown forest, a very special part of our world. If that directive stops us building more homes, which I do not believe is what the EU directive intended, local people will not be able to get a foot on the ladder. I would like us to work across parties to fix that problem. It is all well and good for someone with the amount of grey hair that I have to talk about what this Budget can do. After all, I am in my mid-40s, but perhaps I can provide better context if I read an email from a constituent. My constituent says: "The stamp duty break will give us £2,500. The Help to Buy ISA, which gives a 25% bonus on closure, has given us an extra £3,000. So, in total, your Government has given us over £5,000, which we would not have had, to allow us to buy our first home. Personal tax allowance movement from April 2018 gives us an extra £200 a year in our pockets as well. We have also both undertaken an apprenticeship under the Conservative Government. It is not right for the Opposition to say that there is nothing to aspire towards for young people. There is everything and more in this country to help young people to achieve. Talking everything down as the Opposition do is not going to help or inspire." That is the sort of constituent on whom I am particularly focused. I want to ensure that they have a home of their own and that they have the opportunity to earn more, which means that they will put more into the public services that my ageing population need. The Opposition need to take that into account and to be more optimistic. I am optimistic, and I absolutely support what this Government are doing for the economy. I look forward to supporting this Budget in the Division Lobby next week.