Budget Resolutions and Economic Situation
Debate between Chris Leslie and Oliver Dowden(8 years, 9 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Chris Leslie
No, not yet.
There was no mention of science or research and development in the Budget speech and no steps to increase mobility in the housing market. In fact, the OBR says that 14,000 fewer affordable homes will be built by 2021. How on earth that helps to reduce the housing benefit bill, I do not know. At the same time, the Government are delaying rail improvements, systematically decimating renewable energy investment and kicking the decision on airports into the long grass. There are tough choices to be made, and lower priorities where savings can be made, but the Chancellor has failed to prioritise those public services that boost productivity, and that will cost the country more in the longer run.
Seven Budgets on, it is time that that this Chancellor took some responsibility for his failure to eliminate the deficit this year, as he promised; for the drag on our economy and public finances caused by woeful performance on productivity; for the stagnation in living standards; and for the overruns in the social security budget. Growth has been revised down by the OBR, as has capital investment. These are incredibly difficult times for the wider global economy, but where is the urgent help to support our exports and productivity to tackle that other deficit, which has worsened significantly under this Chancellor—