Budget Resolutions

Graeme Downie Excerpts

Thursday 27th November 2025 Commons Chamber

[Graeme Downie (Dunfermline and Dollar) (Lab)]

I was going to say that it is a privilege to follow the hon. Member for Esher and Walton (Monica Harding). At the beginning of the debate, we talked about films with the shadow Chancellor, and the hon. Lady reminds us of “Back to the Future”, as that really was 2010 all over again. Perhaps a couple of steps to the right, so to speak, may well be in order.

My constituents in Dunfermline and Dollar tell me every week what matters to them, and that is what the Chancellor has delivered in her Budget speech. She delivered on the main issues that affect people by bringing down the cost of living, ensuring that working people in every corner of the country keep more of what they earn. It is a Labour Budget in every sense of the word, focused on helping the people who need it most, lifting families out of poverty and creating new opportunities for the future.

I am proud to be one of the founding members of the living standards coalition on the Labour Benches. We hear every day how important these issues are, and we have pressed for these changes simply because we know that these are the actions that matter most to the people in our constituencies and will make their lives better. The alternative proposed by Opposition Members is also something out of a film, except that film is “The Wolf of Wall Street”—a failed ideological lurch back to hated austerity: the cruel experiment that shattered public services and pushed millions of people across the country into poverty and despair.

Yesterday in the Budget, the Chancellor announced that there will be no return to those dark times. We will see responsible choices that stabilise the economy and put money back into people’s pockets. With the increase in the national living wage and the national minimum wage, the Chancellor has shown yet again that the Government are laser focused on making work pay, ensuring that those who work hard to get ahead feel a sense of fairness. To the 10,000 Fifers who will benefit from these measures, I say, “The Labour Government are fighting for you now and will go on fighting for you day in, day out.”

The Government have shown what matters most to the British people: no more fear and uncertainty from Tory mismanagement, bills down, wages up, pensions up and more money in people’s pockets. That was a promise made by Labour and kept by this Labour Government.

We have already seen the Government deliver trade deals. Just last week, a £4 billion agreement with Indonesia secured hundreds of jobs at Rosyth in my constituency. Today, the Chancellor confirmed that the Budget will see no return to austerity in Scotland, with the Scottish Government receiving a further £820 million, putting Scotland at the heart of the Budget. Sadly, Scots have seen lengthened NHS waiting times, delayed trains and struggling schools, but the Budget has laid the foundation that will allow Anas Sarwar as First Minister in Scotland to rebuild north as well.

Keeping fuel costs down is vital for my constituents— I have led campaigns on that during my time in Parliament —so I very much welcome the Chancellor’s fuel duty freeze and the other measures to support people and small businesses in Dunfermline and Dollar.

We are also looking after the older generations—particularly people who have served our country and powered our past. One of the Government’s first acts was to right a historic wrong by overturning the injustice that diminished the mineworkers’ pension scheme and returning pension funds to the pockets of retired miners. The day after the previous Budget, I discussed with the then Chief Secretary to the Treasury the need to support members of the British Coal staff superannuation scheme. Thanks to me and coalfield MPs from across the Labour party, the Chancellor announced that change, which will benefit 176 families in my constituency and almost 700 across Fife. I pay tribute to BCSSS campaigners across the country, including Alan Kenney in my constituency. Justice for BCSSS members means more money in the pockets of the retired workers whose labour quite literally kept the lights on in this country, ensuring that they have financial flexibility and security, which inevitably boosts the local economy.

This Budget supports working families and lifts them out of poverty. As others have said, we cannot allow a false choice to exist; we must always remember that 70% of children in poverty come from working families. Those are hard-working people who are trying to support their children but who need just a little more help from this Labour Government. The scrapping of the two-child limit will benefit an estimated 1,400 children in my constituency alone.

While we are talking about righting historic wrongs, something about which I have not heard much in this debate is the Labour Government’s covid counter-fraud commissioner recovering £430 million of our money from scammers enabled by the Conservative party.

Fife will also benefit from £40 million of pride in place funding thanks to this Government’s support for local communities, which will build local infrastructure, improve skills and increase community capacity where it is needed most. That funding is available only because of the choices made by this Government and the Chancellor. We will use the funds we have to support the people who need it most, bringing down bills, putting more money in people’s pockets and creating a prosperous economic future.

This Budget is about fairness, stability and hope. It delivers for Dunfermline and Dollar, for Scotland and for the United Kingdom. Promises were made, and promises have been kept. This is a future we can believe in, and the Budget will have my full support.

[Greg Smith (Mid Buckinghamshire) (Con)]

In reflecting on the title that the Government have offered up for today’s Budget resolutions debate, “Economic Sustainability and Fair Choices”, I have found myself wondering on what planet anyone could possibly call yesterday’s Budget sustainable or fair. The forecasts show that GDP growth will be down in every year from 2026 to 2029, consumer prices index inflation will be up 3.5% this year, taxes will increase by £26 billion, the unemployment rate will hit 4.9% in 2026, the size of the state itself will increase to 44.8% of GDP, borrowing will go up £11 billion, and debt interest will be higher in every year of the forecast. That is not the makings of a sustainable economy or growth, and it is certainly not fair on the taxpayers who will have to shoulder the burden to pay for it all.

As I visit businesses in my constituency—the retailers and hospitality businesses on the high streets of Wendover, Princes Risborough, Great Missenden; the village pubs; the furniture manufacturers in Princes Risborough and the surrounds; and the rocket scientists and big businesses at Westcott venture park—they all paint a picture of preparing for things to get worse. They say that they are not planning to take on new employees or apprentices.

[Graeme Downie]

Did the hon. Gentleman have a similar conversation with his constituents after Liz Truss’s disastrous Budget, which he supported? What did they say?

[Greg Smith]

Labour Members are like a broken record. The last Conservative Government certainly made a number of mistakes—we have put our hands up to that—but we left employment high and unemployment at a record low, and jobs were being created every single day.

Now, businesses are not taking on—or are planning not to take on—more new starters, or, like Rumsey’s Chocolaterie on Wendover High Street, have already had to lay people off or cut their hours because of employer NI, business rates and the looming Employment Rights Bill. Those are the real-world consequences of the Labour Government’s policies. The dividends tax in the Budget struck right at the heart of the entrepreneurs—the small business owners—who risk everything to create growth, employ people and create the jobs that we want in our economy. It has sent them the message: “There will be less in it for you, if anything at all.” Many of those businesses operate on narrow margins, working their socks off almost for nothing, and this Government are making it even harder for them. That is no way to run an economy.

I am lucky enough to have many farmers in my constituency of Mid Buckinghamshire, where around 90% of the land is agricultural, and I talk to them as often as I can. My party held an emergency food and farming summit at Fleet Marston farm in my constituency a couple of weeks ago, where my right hon. Friend the Leader of the Opposition, the shadow Secretary of State for Environment, Food and Rural Affairs, my right hon. Friend the Member for Louth and Horncastle (Victoria Atkins), and the shadow Farming Minister, my hon. Friend the Member for Keighley and Ilkley (Robbie Moore), joined me to again hear directly from farmers about the impact the family farm tax will have. They will have to either sell up to a third of their farm to meet that tax bill or take on a level of debt that it will take over 40 years to pay back.

The National Farmers Union, many other organisations and farmers directly have tried to reach out, including yesterday on Whitehall, to get Labour MPs and Ministers to listen and understand the real-world consequences of their decisions. And yet the Budget yesterday was entirely lacking anything other than the transferable allowance to take away the stress, anxiety and existential threat to British agriculture that the family farm tax and changes to business property relief represent to family businesses and family farms up and down the country. I can assure anyone who challenges the point I am making that it will not be other farmers who buy the land when farms have to sell to meet the inheritance tax bill—it will be property developers and those with all sorts of other concerns, who will not keep that land in food production. The nation’s food security will suffer as a direct result of the failure to scrap the family farm tax yesterday.

I want to talk briefly about another issue I have been focused on for a number of years, during the last Parliament and this one. I draw the House’s attention to my co-chairmanship of the loan charge and taxpayer fairness all-party parliamentary group. I am grateful to the Chief Secretary to the Treasury and the new Exchequer Secretary for the time they have taken to reach out on this issue. Some of the announcements yesterday were welcome, off the back of the McCann review. However, I am sorry to say to the House that they have not been met with total joy from the victims of the loan charge, because many people caught up in the loan charge are still being asked to pay amounts of money that they simply cannot afford.

The Chancellor, the Chief Secretary to the Treasury and other Ministers are on the record saying, when in opposition, that the victims of the loan charge were “victims of mis-selling” and that the perpetrators—those who promoted these schemes—should have been brought to justice. What we got yesterday was nothing of the sort. We did not get the fully independent review that the APPG and the Loan Charge Action Group have been calling for.

Despite the concessions yesterday, many people simply will not be able to pay. Two thirds of the victims are now over 55, 40% are over 60 and a quarter are already retired. They just do not have the ability to find the amounts of money being asked for, and the offer on the table is nothing like the settlement made with the big banks some years ago, which was in the region of 10% to 15%. I urge the Exchequer Secretary to look at this again and to deliver a genuinely fair settlement to everyone caught up by the loan charge and pursue those who sold the schemes.

[Adam Jogee (Newcastle-under-Lyme) (Lab)]

I am grateful for the opportunity to speak in this debate. Many of the measures announced yesterday will make a real difference to the lives of the people I represent back home in Newcastle-under-Lyme. To whom much is given, much is expected. The Labour party received a mandate and the trust of the people last year, so we must get on with the job of getting our country back on track, and this Budget helps us do that.

Communities like mine in the industrial heartlands believe that hard work should always pay off, that people should contribute their fair share, that nobody should walk by on the other side, as Holy Scripture tells us, and that everyone in our United Kingdom should be able to live with dignity and opportunity and to get by and get on. Nobody in a country like ours, rich in people, ambition and potential, should ever be forced to choose between heating and eating. Nobody should be left living on social security when they can and should, if able, be at work, benefiting from the dignity and power that work provides.

I am grateful for the announcement on the BCSSS. That change is something that I have campaigned hard for, alongside colleagues such as my hon. Friend the Member for Easington (Grahame Morris), and my Staffordshire colleagues and neighbours, my hon. Friends the Members for Stoke-on-Trent North (David Williams), for Cannock Chase (Josh Newbury), for Burton and Uttoxeter (Jacob Collier) and for Lichfield (Dave Robertson)—and yes, my hon. Friend the Member for Dunfermline and Dollar (Graeme Downie), and many others. Men and women from Newcastle-under-Lyme who worked down the pits in our coal industry, fuelled our economy and kept the lights on, will now finally get the justice that they deserve. They will get the money that they are owed, and it cannot come fast enough.

In our United Kingdom, no child should grow up in poverty. That is why I welcome the decision to tackle real injustice and inequality, and lift 1,770 children out of poverty in Newcastle-under-Lyme. I am glad that two local schools back home—the Meadows school and Langdale primary school—have already received funding for breakfast clubs. I look forward to more local schools benefiting, so that no child goes to school hungry.

Newcastle-under-Lyme is home to many wonderful family farms and the farmers and families who live on them—people who tend to our land, feed us and keep our country going. I have raised their concerns, which I share, about the proposed changes to APR for farmers. I welcome the sensible concession in the Budget that will allow for a clearer and smoother transfer of reliefs between married couples and civil partners, but I urge colleagues on the Front Bench to consider the threshold. Going for the baddies who land bank is the right thing to do, because those who should pay must be made to pay, but we must not allow an unintended impact on small family farms.

[Graeme Downie]

I thank my hon. Friend for raising the issue of family farms; I have a number of them in my constituency. Does he agree that it is important to strike a balance in his part of the country, as well as in the devolved Administrations, and to put the tax burden in the correct place, while protecting small family farms?

[Adam Jogee]

I am grateful to my hon. Friend, who gives voice to the fact that we are one United Kingdom, and the same approach must be taken in Scotland as in the centre of our collective universe, Newcastle-under-Lyme. It is important to note that the challenges facing our farming industry did not start last July—we all know that—but this Government now have the chance to give our farmers the support that, I am afraid, the previous Conservative Government failed to.

It is easy to be gloomy about the state of the world, but there is always hope. This weekend marks the first anniversary since the cowboy operators at Walley’s quarry landfill site were closed down; 147 days into my time as our MP, we finally secured justice for the people in my community who were forced to live with the disgusting and disgraceful situation at Walley’s. That is a sign that things can only get better, and I pay tribute to all the campaigners who worked so hard with me over my first 147 days as MP.

With this Budget, we are fixing the roof—and while the sun may not be shining, it certainly is not raining outside. We will see more children eating properly and not going to school hungry; more parents able to work without worrying about childcare; and more former miners finally getting justice and the money that they are rightfully owed. We will see prescription charges and rail fares frozen; more pensioners able to afford to heat their homes and buy Christmas presents for their grandchildren; and the disgusting rape clause gone. We will see more people able to afford their energy bills, which will be cut by £150, and more young people will be supported into life-changing education and employment opportunities. We will see support for farmers, but there is much more to do on that. I hope that the Minister has heard that, for the third time this speech.

There is more support for universities and colleges, such as Keele University and Newcastle College in my constituency. They will receive the support that they need to continue providing a world-class British education. We will see more doctors, nurses and NHS staff getting the credit and support that they richly deserve. I declare an interest, as my wife is a nurse—an excellent one, as are all her colleagues.

The Budget will not change the country overnight. It will not solve every issue immediately, but it sets us on a path to a fairer, better and more inclusive United Kingdom. I will always shout loudly when we show the difference that a Labour Government can make. I will speak truth to power when we need to do things better, and I will always ensure that the people of Newcastle-under-Lyme are heard loudly and proudly in this place. We have much to do, so let’s get on with it.