Budget Resolutions — House of Commons, 2017-11-23
Topic: Macroeconomics
Barry John Sheerman (Labour, Centre-left): It might surprise some people on the Government Benches in particular to hear that I agree with several of the major themes of the speech made by the right hon. Member for Sevenoaks (Sir Michael Fallon). We have worked together on manufacturing and other matters and would agree on the need for greater expenditure on our defence sector. As a Labour and Co-operative Member of Parliament, I was surprised at his conversion to passionate advocacy of employee share ownership—I perhaps did not know about his championship of the idea. There are other matters on which we do not agree This is my 43rd Budget so, if I am a little cynical and pessimistic, it is because I have sat through 43 Budgets since I came to the House in 1979. Some have been amazingly bold, ambitious and brave. I remember sitting on the Government Benches during what was not a Labour party-induced economic meltdown but a banker-induced global economic meltdown, when brave men such as Alistair Darling stood at the Dispatch Box and made the right decisions about getting our country through. It is sometimes very important to set the record straight All Budgets are usually compared to a magician’s performance. We all know what a magician is like—they take one’s eye off the main business with nice sparkly things and rabbits coming out of hats. My experience is that we can never judge a Budget until the papers hit the doormat on a Sunday morning. That is when we get a relatively mature view of what is happening. Let me give an example. We should watch a Chancellor who switches from percentages to pounds, to billions. Yesterday, I noticed that the Chancellor of the Exchequer suddenly said that there would be £1.6 billion for the national health service, but this morning I had the House of Commons Library check what that was. It is 1.2% of the overall NHS budget. So, £1.6 billion sounds like a lot of money; 1.2% does not We must judge the Budget cautiously. It is the most depressing Budget that I have ever heard, and not just because of the growth figures or the dire situation that so many people in our country are still in, but because the shadow of Brexit looms over everything the Chancellor said yesterday. It could not be a Budget of passion, imagination, new ideas and real change, because he was hemmed in not only by those in the Cabinet who would not give him an inch if he made any slight mistake, but by the passionate Brexiteer majority behind him, which will not let anyone question this absolutely disgraceful decision to take ourselves out of the European Union. Not everyone on my Front Bench agrees with me, but I must confess that I will fight to the very end of the Brexit process to make sure that we stop it if we possibly can I want to deal with four points. First, let us start with productivity and growth. Sometimes, I hear the word productivity bandied around, and not many people know that the definition of productivity is the measure of the efficiency of a person, machine or factory system in converting stuff into useful outputs. We ain’t very good at it. Under all parties, of all Governments, we have not quite managed to become as productive as we should be The right hon. Member for Sevenoaks referred to managerialism in his closing remarks. That is different from competent management, and what this country needs more than anything else, in the private and public sectors—running our hospitals, our universities and our private sector businesses—is first-class management. Our universities and colleges are producing too many people with soft social science degrees and arts degrees and not enough managers who know how to run this country, run our industries and create wealth. There is very little in this Budget about encouraging managers. There are some nice things about science and maths, and I do not decry them, but we need good managers and more of them.