Budget Resolutions and Economic Situation

Julie Minns Excerpts

Wednesday 28th October 2026 Commons Chamber

[Ms Julie Minns (Carlisle) (Lab)]

I regard this Budget through two lenses. First, as the Labour Member of Parliament for Carlisle, I am asking what the Budget means for the people, families and businesses that I represent. Secondly, as a member of the Treasury Committee, I am examining whether these measures will strengthen our economy over the long term. I judge the Budget against four tests. Does is it improve the lives of working people? Does it strengthen the British economy? Does it make the UK a more attractive destination for inward investment? Does it help the north?

When assessing any Budget, economic stability must come first. Before entering Parliament—contrary to the view held by some Opposition Members—I worked for businesses that were backed by one of the UK’s largest inward investors. What investors look for is not political knockabout, the likes of which we have sadly heard from those Opposition Members this afternoon, but stability, credibility, infrastructure, skills and a credible long-term plan. On that test, the Budget passes.

Despite global instability, Britain recorded the joint fastest growth in the G7 in the first half of this year, while business investment has risen by 7.5% since the start of this Parliament. The Government continue to meet their fiscal rules, maintain a buffer against future shocks and put borrowing on a downward path. That matters because without stability there can be no sustained investment, no lasting growth and no durable improvements in living standards.

My second test is whether the Budget strengthens Britain’s attractiveness as a place to invest. This Budget backs investment in innovation, skills, infrastructure and artificial intelligence while continuing to support businesses with lower regulatory burdens and greater certainty. Those are exactly the ingredients that international investors look for when deciding where to place their capital.

My third test is whether the Budget improves the lives of working people. Ultimately, growth is not a statistic. It is about whether people feel more secure and have greater opportunity. That is why I welcome the extension of the fuel duty freeze and the 5p cut, which will help motorists and businesses across rural constituencies such as mine. I welcome the permanent increase in tax-free mileage rates, which will help care workers, community nurses and tradespeople who rely on their vehicles every single day. I welcome the expansion of parental pay, including to self-employed fathers and partners.

My final test is whether the Budget helps the north. Economic success cannot be measured solely by what happens in London. It must be measured by whether places like Carlisle share in that success. That is why I particularly welcome the Government’s commitment to devolution and look forward to electing Cumbria’s first mayor next year. I trust that they will be a Labour mayor.

We have in Carlisle ambitious businesses, skilled workers, a strategic location and enormous potential. We have a high street already on the up—one that will be further strengthened by the cuts to business rates. We have great local independent breweries. I welcome not only the £10 million boost in small producer relief but the introduction of a guest beer agreement in England that will ensure that the local breweries in my constituency are able to get their local product into our local pubs.

The Government’s approach to devolution, alongside good growth funds and greater local control, offers an opportunity for communities such as mine to play a greater role in the country’s success. This is a Budget that provides support for households today while laying the foundations for long-term growth. It recognises that when places like Carlisle succeed, the north succeeds—and when the north succeeds, Britain succeeds.