Budget Resolutions and Economic Situation

Robert Halfon Excerpts

Wednesday 20th March 2013 Commons Chamber

[Mr Andrew Tyrie (Chichester) (Con)]

Before I start my speech I shall give colleagues an opportunity to get to their lunches. The slot while they are shuffling out seems always to fall to me.

There is a lot more to digest in this Budget than many—not least those people sitting in the Chamber this afternoon and around the country—thought there would be. The Treasury Committee will have a great deal to consider, particularly the changes to the inflation remit, the employment allowance and the policies on housing and corporation tax.

For many years, and certainly since 2008, Britain has been living beyond its means and the Chancellor’s most immediate priority has been and should have been to sort that out. An equally important task has been to find ways to improve the long-run performance of the economy and supply-side reform.

Ultimately, politicians can do little more than create the conditions that release the energy of others. The future of the economy will depend on the millions of people in small businesses in our constituencies and on our releasing their energies.

[Robert Halfon (Harlow) (Con)]

Does my hon. Friend agree that this is a cost of living Budget, freezing fuel duty, cutting beer taxes, helping people with child care costs and raising the threshold for lower earners?

[Mr Tyrie]

Yes. My hon. Friend did not mention fuel duty, which rather surprised me—[Interruption.] Oh, he did? I am terribly sorry, I thought he missed it out. I shall discuss energy in a moment, if I get a chance.

Let me say a few more words about the macro decisions before I move on to the supply side.