Budget Resolutions and Economic Situation

Paul Holmes Excerpts

Tuesday 9th March 2021 Commons Chamber

[Paul Holmes (Eastleigh) (Con) [V]]

This Budget delivers for all parts of the UK and it is the most important Budget for my constituency in years. The Secretary of State outlined the importance of levelling up and creating new industries, and that will certainly happen here in the Solent region, because levelling up is just not a tagline for one part of the country; as this Budget shows, it is for all parts of the UK. Levelling up and infrastructure improvements are about not just physical manifestations of infrastructure, but preparing the economy, and communities and industries that will prepare and propel Britain’s future.

The Solent region has pockets of deprivation left over by the old industries of the railways in Eastleigh town centre and the post-industrial past of Southampton’s docks. The announcement of the Solent freeport, which was opposed by the Lib Dem leader and pooh-poohed by the Labour party, will prepare our workforce for the future. We are talking about 52,000 jobs, the creation of decarbonisation industries, such as green maritime, green transport jobs and a world-leading sector in green energy. This will mean that £2 billion-worth of investment will be attracted to the Solent region and it will add £3.7 billion of gross value added uplift to the UK. This Budget is a shot in the arm for my region, which is often seen as economically developed, to ensure that the Solent region, my constituency and Southampton as a whole will have the world-leading recovery that we need.

The Government have recognised that need for my constituents, my region and the country, because not only does this Budget deliver the infrastructure needed to propel that future, but it puts in place some of the solutions to the problems that my region has had for decades. Such problems include three-generation unemployment, whereby people have not been able to get back into the workplace because the industrial heritage of areas such as Southampton and Eastleigh has not been worked on. This Budget does that, all delivered by a Conservative Government. The people of the Solent region have been given ambition and opportunity, and the Business Secretary, the Treasury and the Prime Minister should know that my constituents and I will grab that opportunity with relish.