Equality: Autumn Statement — House of Commons, 2016-12-14
Topic: Macroeconomics
David Michael Gauke (Conservative, Centre-right): I beg to move an amendment, to leave out from "House" to the end of the Question and add: "affirms that introducing tax-free childcare, increasing the national living wage, increasing investment in affordable housing, reducing the universal credit taper, boosting investment in schools to create more good school places and taking 1.3 million individuals out of paying income tax so far this Parliament will benefit all genders and races; welcomes the fact that there are more women in work than ever before; further welcomes the Government’s publication of distributional analysis along with the Autumn Statement 2016; and welcomes the action the Government is taking to develop a strong economy that works for everyone, regardless of their background." It is a great pleasure to move an amendment in the name of a female Prime Minister. It is the Government’s foremost aim to make sure that this is a country that works for everyone in our society, wherever they are from, and whatever their gender, race, age or background. To deliver that objective, we need to build a strong and stable economy by boosting productivity, creating jobs, and bringing our public finances under control. That is how we will be in the best position to create a sustained rise in living standards for all British people. Our entire economic approach is based on a determination to make people better off now and in future, in all parts of the UK, and across the full breadth of our society. That is why we reject the assumptions in the motion and believe instead that the plans that we have set out will deliver a stronger economy that works for everyone I want to reflect on the measures that we have taken to strengthen our economy in this way, because people, regardless of their race or gender will benefit from our work to restore the economy to long-term health, which begins with bringing our public finances under control. With UK debt soon reaching a 50-year high of 90.2% of GDP, we must pursue a credible fiscal path to make it fall. Over the past six years, we have cut the deficit by almost two thirds to 4% of GDP, and we confirmed in the recent autumn statement that we will deliver a surplus as soon as possible in the next Parliament, while in the interim bringing cyclically adjusted borrowing below 2% by the end of Parliament, and getting public sector net debt, as a share of GDP, falling in this Parliament too People across our society benefit from the business-led recovery that has been at the heart of our economic approach. We have made sure that Britain is open for business with our competitive tax regime, by cutting over £10 billion-worth of red tape, and with our extensive investment in infrastructure, skills and research. The autumn statement took that further with a whole host of measures, including the new national productivity investment fund of £23 billion over the next five years. It is as a result of such measures that over 1 million new businesses have started since 2010, taking us up to a record 5.5 million small businesses at the beginning of the year. By the way, I am pleased to say that about 1.2 million small and medium-sized enterprises in the UK are majority women-led—more than ever before—and they contribute about £115 billion to the economy in total.