Budget Resolutions — House of Commons, 2017-11-23
Topic: Macroeconomics
Peter Heaton-Jones (Conservative, Centre-right): It was a pleasure to be in the Chamber to hear what I think was the first Back-Bench speech from my right hon. Friend the Member for Sevenoaks (Sir Michael Fallon), who is not in his place any more—and what a wise contribution it was I welcome the measures in the Chancellor’s Budget: big investment in the NHS; additional improvement to the universal credit programme; a stamp duty cut for first-time buyers; investment in our economy secured; and the Government delivering on their commitment to build a country fit for the future. I shall focus on what I want to achieve in rolling out these policies in North Devon and the wider south-west, and I will start—unashamedly—with the jobs and employment situation there If there is one measure of the success and strength of an economy that we ought to look at it is employment levels, and here are some figures from my constituency. In 2010, when the Conservative Government came to power, unemployment in North Devon was more than 1,015—that was the number of claimants—or 2.3% of the adult population. Today, it has more than halved to 505 claimants, or 1.1%. The figures for youth unemployment are even more impressive: in 2010, the figure was 290, or 4.2%; now there are 115 youth unemployment claimants, which is less than 1.8% of the population. That is a remarkable achievement. There is still more to do, but those figures show the underlying strength of the economy that Conservative Governments have presided over. I welcome the fact that this Budget continues that trend The first issue I want to briefly cover in the time available is the NHS. We heard the welcome announcement of £10 billion of capital investment to help NHS England implement its sustainability and transformation plans. I want to ensure that North Devon gets its fair share. Our STP review process found a clinical case for all acute services to be retained at North Devon District Hospital in Barnstaple. I welcome the £10 billion of capital investment and the £2.8 billion on top of that for general ongoing NHS funding, but we need to get our fair share in North Devon so that the clinical need identified can be properly resourced. We have housing need in North Devon, as does nearly everywhere else, so the £45 billion package of investment is welcome. I was disappointed—if I may say so—to hear the shadow Chancellor gloss over the fact that a third of this money is brand new: £15 billion of brand-new investment in housing by this Conservative Government. It sounds like something to be glass-half-full about, not glass-half-empty Productivity is important. The Heart of the South West local enterprise partnership has its prospectus for productivity. It is currently out for consultation and highlights several projects to improve the regional economy. I attended a growth summit in Exeter about a month ago. There are a lot of ideas there and there is huge potential in our area. The south-west has vibrant cities, an amazing coastline, historic towns and villages, and stunning moorland, but it is about more than the environment: within that environment are people doing innovative business work and the small and medium-sized enterprises that are the driving force of the regional economy. I am delighted that the Chancellor’s Budget does so much to push that forward and support them. The LEP’s ambition is to double the size of the region’s economy to £70 billion by 2036, and it is seeking the right interventions and Government backing to achieve that. I will continue to push its case Finally, while we are talking about money and investment, it would of course be remiss of me not to mention one project that I am particularly passionate about: the north Devon link road linking the M5 with Barnstaple. We talk about the northern powerhouse, and in Devon the northern powerhouse is Barnstaple, but it is not easy to get there at the moment. Our brilliant local economy could thrive even more were there investment in the north Devon link road we need so much. I will continue to push that point while welcoming the Chancellor’s investment in public services and infrastructure In conclusion, I welcome the Budget, which rightly focuses on our national challenges, and I will continue to push the point to make sure that the money is similarly focused in North Devon.