Amendment of the Law — House of Commons, 2015-03-19
Topic: Macroeconomics
Chris Kelly (Conservative, Centre-right): Thank you, Mr Deputy Speaker, for allowing me to make my final speech in the House. I shall not speak for too long, because I know that many other Members want to contribute to the debate The Chancellor’s stated goal is for Britain to become the most prosperous major economy in the world, and for that prosperity to be shared throughout the nation. As a fellow Member whose constituency is outside London and the south-east, I wholeheartedly agree with him, and, indeed, that is what we are starting to see The Chancellor was also right to say that no short-term giveaway could benefit people as much as a long-term recovery. That is why there were no pre-election gimmicks yesterday. Instead of short-term gimmicks, we have seen action: action on job creation and growth. Under this Government, 1,000 more jobs have been created every single day, and the Office for Budget Responsibility has confirmed that in the past year we grew faster than any other major advanced economy—50% faster than Germany, and a staggering seven times faster than France Dudley South is full of hard-working and enterprising people, many of whom take the plunge and set up their own small businesses. I am delighted that we will be supporting them—and the 5 million self-employed people in the country—by abolishing their class 2 national insurance contributions entirely, thus making tax simpler for those hard-working people and enabling them to get on with making a living, serving their customers, and building their businesses The news is also good for larger employers in my constituency. In two weeks’ time corporation tax will be cut to 20%, which is one of the lowest rates in any major economy. We are backing businesses such as Petford Tools, Boss Design and Pressvess, which are in my constituency, so that they can create jobs. Mike Wood, the excellent Conservative candidate for Dudley South, brought representatives of those companies to No. 11 recently to meet the Chancellor. By contrast, Labour’s plan for the first corporation tax rise since 1973 would put jobs at risk rather than helping to create more of them Business rates have not kept pace with the needs of a modern economy. Businesses in Dudley and the black country have called for a review, and will join me in welcoming the news that one is to take place. Ninder Johal of the Black Country chamber of commerce has said that, all too often, good local businesses "have to scale back their growth ambitions because of out of control rates bills", and called business rates an "iniquitous tax". I agree with him Labour left manufacturing halved as a share of the economy, and a bigger gap between north and south in our country. The OBR has confirmed that growth is now broadly based, and that manufacturing has grown 4.5 times faster than it did in the pre-crisis decade. In manufacturing areas like Dudley and the black country, the evidence is all around us It is clear that the Conservative party has a plan that is working. Thanks to this Government’s long-term economic plan, Britain is walking tall again. We have a growing economy, a record number of jobs and rising living standards. The deficit is down, and yesterday it was confirmed that our national debt is starting to fall as a share of the economy. However, the country now faces a critical choice. Do we return to the chaos of the past, or do we keep on working through the long-term economic plan that is delivering for this country? Let us back stability for households and businesses by committing ourselves to running a budget surplus and ensuring that our debt share continues to fall. Let us support job creators by backing business and skills that will create full employment, and by cancelling the planned rise in fuel duty that is as much a tax on industry as a tax on households. Let us choose the whole nation by investing in a truly national recovery, so that areas such as Dudley and the black country do not miss out Tim Yorke, finance director of Ultra Furniture, one of the largest private sector manufacturing employers in Dudley South—whom I have had the pleasure of visiting— told Dudley News yesterday: "The announcements about minimum wage and apprenticeships were welcome, as are the opportunities to give people more disposable income through increased personal allowances and more opportunities to buy homes through the help to buy ISA." This is a positive Budget, and much progress has been made in five years. The simple choice that voters will face on 7 May is between the chaos of Labour, propped up by the Scottish National party, and the Conservatives—including Mike Wood in Dudley South—with their long-term economic plan, which is working. Let us stay the course.