"It has been dragged out of the Government that there was no black hole of £20 billion to £30 billion in the run-up to the Budget. In fact, there was a surplus. That means that Treasury insiders were deliberately misleading the press, the markets and our constituents in the run-up …..." Jerome Mayhew - View Speech
"We recently heard that inflation in this country has risen to 10.1%, but is the Minister aware that the European Union reported its inflation figures this morning, and inflation in the eurozone has risen to 10.9%?..." Jerome Mayhew - View Speech
"If we have learned one thing from the experience of the past few weeks, it is that there really is no magic money tree, and the Government really do have to pay their way. Some of us, including myself, had started to doubt that essential economic truth because of the …..." Jerome Mayhew - View Speech
"The Chancellor will be aware that his actions over the past few days have already lowered long-term expectations for interest rates. Can he set out for the House what impact he anticipates that that will have on mortgage rates in my constituency and across the country, as well as on …..." Jerome Mayhew - View Speech
"Without growth, government just becomes an exercise in rearranging the deck chairs, so I absolutely welcome this unashamed focus on growth. As my hon. Friend the Member for Runnymede and Weybridge (Dr Spencer) said, it is a vote of confidence in the future of our country. Let us look at …..." Jerome Mayhew - View Speech
"The hon. Gentleman is asserting that the poorest will be worst hit by this, but Treasury analysis of the impact of tax and spending decisions on households in ’22-23 in cash terms clearly shows that the bottom eight deciles—80% of households—will be better off as a result of the Government’s …..." Jerome Mayhew - View Speech
"When we discuss whether we should have the national insurance contribution rise, we ought to look at what we intend to use the money for, because, after all, as my hon. Friend the Member for Gloucester (Richard Graham) mentioned, it is a hypothecated tax. The Government are looking to address …..." Jerome Mayhew - View Speech
"The hon. Member made a number of interventions on the Minister, and I refer him to the full responses that were given.
The question that I take from that is: how we will pay for the proposals? It seems to me that there can be only three answers. We can …..." Jerome Mayhew - View Speech
"I am grateful to the hon. Member for his intervention. I suggest that a very good use of public money was emergency funding for PPE when we most desperately needed it in a national lockdown. It was inevitable that there would be a trade-off between speed—everyone in the House was …..." Jerome Mayhew - View Speech
"My hon. Friend is absolutely right. Even if we recovered all of that £3.3 billion, that would be for a single year only. The great mistake that the Opposition have made is to conflate single events—a windfall tax is another example—with ongoing revenue needs.