Property Taxes

Mark Ferguson Excerpts

Wednesday 3rd September 2025 Commons Chamber

[Mark Ferguson (Gateshead Central and Whickham) (Lab)]

It is wonderful to be back for another Opposition day debate, as I am sure we can all agree. It is another debate about imagined proposals. It must be a difficult time for Opposition Members, because for so many years, this was the time of year when they were preparing for their conference and for the Budget, but this year, scant attention will be paid to them—and, of course, they are not writing the Budget anymore.

[Tim Roca (Macclesfield) (Lab)]

Thank God.

[Mark Ferguson]

Indeed. Thank God the Conservatives are not writing the Budget, because we have seen what their Budgets led to. I understand Opposition Members’ frustration. It is nice to see that they have settled into the most comfortable aspect of being in opposition. As I have said before in these debates, as a Labour party member of many years’ standing, I have a huge amount of experience of the comfort of opposition; you start to create straw men, talk about what the Government might be doing and your fears, rile your supporters, and spark up a bit of concern among them. However, the Opposition are not willing to set out their actual plans for the country. [Interruption.] An hon. Friend makes a good point: they do not have any.

All the Opposition parties—again, this is the nature of the easy early years of opposition—want the benefits that result from our difficult choices, but they are unwilling to say how they would pay for them. I am sick and tired of listening to the never-never from those on the Opposition Benches. They are confident and comfortable with the imaginarium of the Budget that they believe will happen, but they are unwilling to come up with real, meaningful proposals—incapable of doing so, perhaps.

Proposals floated by the Conservatives include cutting maternity pay, means-testing the state pension and attacking the minimum wage. We know the impact of a Conservative Budget: the grotesque chaos caused by Liz Truss and Kwasi Kwarteng. I would call that Budget a bombshell, but bombshells go off only once, and that bombshell is going off in homes and communities across this country every single day. Families on mortgage rates that were fixed for five years or longer would have had lower interest rates now if it had not been for that Budget. Despite the five admirable and welcome interest rate cuts made under this Government, those families will be paying hundreds or thousands of pounds more a year.

Opposition Members express concern today for those in valuable homes. Many of those in valuable homes will understandably have significant mortgages, and many of them will have seen their mortgages go up by hundreds or thousands of pounds, thanks to the actions of the previous Government—actions that Opposition Members were cheerleading at the time. We are all still living with the results of those actions. That is not imaginary; that is the real consequences of their Government, and it is what we are trying to put behind us.