Balancing the Public Finances

Debate between Joan Ryan and Mark Harper

Tuesday 11th July 2017 Westminster Hall

[Joan Ryan (in the Chair)]

If Members wish to remove their jackets, they should feel free to do so, and of course their ties—I have removed mine, as you can see.

[Mr Mark Harper (Forest of Dean) (Con)]

I beg to move,

That this House has considered the matter of balancing the public finances.

It is a great pleasure to serve under your chairmanship in this new Parliament, Ms Ryan. This is the first time I have secured a Westminster Hall debate since the general election. If you will forgive the indulgence, it is also a great pleasure to see the Financial Secretary to the Treasury, my right hon. Friend the Member for Central Devon (Mel Stride), in his place. He served with tremendous distinction in the Whips Office, which I had the pleasure of leading after the 2015 general election, and I am pleased to see him in his current role. I look forward to him responding to the debate.

I am conscious that a large number of Members wish to speak, so I will speak for a little less time than I had originally intended. The first thing worth drawing to the attention of the Chamber, however, is how few Opposition Members are present, which I find astounding. To draw some conclusions from the attendance, we can see that the Conservative party and our allies in the Democratic Unionist party believe in balancing the public finances and making the difficult decisions necessary to ensure that we can grow the economy and create jobs. Judging by the turnout on the Opposition Benches, or rather the lack of turnout, the Labour party is clearly not interested in balancing the public finances or making sensible decisions; all that it is interested in is spending other people’s money until it runs out. Whereas, so many Conservatives are here that they are having to move right around the Chamber and take over the other side.

I will probably have to draw my remarks to a close sooner than I had expected, in order to allow other Members to speak, so let me do a quick précis of my argument. We have come a long way since 2010: we have cut the deficit by three quarters; we have had faster economic growth than almost any country in the G7 largest countries; and we have cut unemployment to levels not seen since I was at primary school in 1975. That is incredibly important, because those are not just statistics; they represent real people getting the opportunities to succeed and thrive.

There are things that we should be proud of, and we could and should have talked about them more during the election campaign. I was very pleased to hear the Chancellor’s outstanding speech in the debate on the Queen’s Speech, in which he set out our economic record and our plans for the future. My central message at the conclusion of my speech today will be that although we face difficult decisions and many pressing needs for spending public money, we need to raise that money while keeping taxes low and economic growth moving along. Those are difficult decisions. The Chancellor is the man who must make those decisions, and he must make them in a balanced way, taking into account all the factors, including economic growth. He needs to make those decisions at the Budget in the autumn, and Conservative colleagues should give him our support in doing so.