Sarah Olney
Main Page: Sarah Olney (Liberal Democrat - Richmond Park)Department Debates - View all Sarah Olney's debates with the HM Treasury
(1 year, 3 months ago)
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James Cartlidge
My right hon. Friend speaks with great expertise as both a former Secretary of State and a Select Committee Chair, and he is absolutely right. Whatever forecasts say, we have a clear strategy for long-term growth in this country that comes from supporting high-growth sectors. I am glad he mentioned the Chancellor’s speech on Friday, which spoke about the fact that we are only the third economy in the world with $1 trillion tech sector—I know the shadow Chancellor does not like that fact, but we are—and we should be proud of that. Of course we want to build further on that. That is how we will deliver strong, sustainable growth in every part of the United Kingdom.
Sarah Olney (Richmond Park) (LD)
The UK economy has faced a triple whammy in recent days: the IMF forecast saying that the UK is the only major economy that will slide into recession this year, an Office for National Statistics survey setting out the true horror of this winter of discontent, and insolvency figures out today showing that more companies are going bust than at any point since the 2009 crisis. Can the Minister tell me when and where the Brexit benefits will begin?
James Cartlidge
I am grateful to the hon. Lady, as ever. Of course she misses out the fact that we have the lowest unemployment for the best part of 50 years. We should all be very proud of that. We know the scars caused by high unemployment and we know that when the pandemic started, unemployment was predicted to finish 2 million higher than it ended up because of the measures taken by this Government and by the Prime Minister when he was Chancellor, with furlough and so on. We will continue to support households. The hon. Lady talks about a winter of discontent, but, as I said, we are providing £1,300 of support for a typical family with their energy bills this winter. That shows we are on their side, but we need to go further, and we do that by delivering on the target to halve inflation.