Budget Resolutions and Economic Situation

Debate between Lord Jackson of Peterborough and Chloe Smith

Friday 23rd March 2012 Commons Chamber

[The Economic Secretary to the Treasury (Miss Chloe Smith)]

I am grateful for the opportunity to respond to the debate and to reinforce, at the end of the first few days of Budget discussions, the Government’s determination to restore the UK to prosperity.

I regret that you have not been here for the whole debate, Mr Deputy Speaker. During the day, we have heard from the Opposition, in general terms, vacuousness, hypocrisy and a lack of ideas. Specifically, the efforts from the Front Bench of the hon. Member for Pontypridd (Owen Smith) show no grasp of the situation. I note he continued to put forward the view that child benefit should continue for millionaires. That is not something that the Government support.

As the House is already aware, it is because of decisive action that this Government have taken since the June Budget of 2010 that we have secured and maintained the stability of the UK economy. This year’s Budget builds on that strong foundation; it safeguards our economic stability; it creates a fairer, more efficient and simpler tax system; and it drives through reforms to unleash the private sector enterprise and ambition that is critical to our recovery.

[Mr Stewart Jackson]

Does my hon. Friend share my concern that the hon. Member for Barrow and Furness (John Woodcock) is being rather shy about sharing the good news this week? Because of this Government’s decisions on the tax and regulatory reform and regime, GlaxoSmithKline is going to provide £0.5 billion and 1,000 jobs to his constituency.

[Miss Smith]

That is right, and the word I would use is “churlish.” Perhaps the hon. Member for Barrow and Furness (John Woodcock) will justify now why he does not welcome that type of investment.