Budget Resolutions
I know that it is unconventional to crowdsource one’s speech on the Budget, but I happened to do my annual online Budget Q&A last night, and it was an absolutely joyful experience. The key themes that were raised with me were: is this Budget bold enough; and what does it do for our communities here in the Cities of London and Westminster? Members will be delighted and perhaps unsurprised to know that the key questions raised by my constituents are very similar to those that are being raised here in the Chamber. It is really clear to me, as it is to my constituents, that this Government cannot control every challenge beyond our shores, but we can seek stability, strengthen our resilience and support those most in need. The foundations for a more stable economy were established by my right hon. Friend the Member for Leeds West and Pudsey (Rachel Reeves) when she made the tough choices to stabilise our economy. What we need now is for families to have confidence that they can plan for the future. Businesses need confidence to invest, expand and create jobs, and our economy needs confidence that public finances are being managed responsibly. That is why this Government’s commitment to fiscal discipline and credible fiscal rules is so important. Economic credibility is not an abstract concept discussed only in this Chamber in Westminster; it affects mortgage rates, investment decisions, business confidence, household budgets and, increasingly, whether people can afford to own a home of their own. That is in stark contrast to the damaging effects of the mini-Budget that the Conservatives want us to forget, but we very much remember it and, sadly, our constituents remember it through their day-to-day budgets. This Government rightly take a responsible approach, and I particularly welcome those measures that are supporting enterprise, investment and job creation. My constituency, the Cities of London and Westminster, has more jobs than people in it, and every day we see the contribution that businesses make to our economy, from small independent firms to globally recognised companies. Economic security must also include housing security. Far too many people, particularly in London, cannot afford a home of their own. What was particularly important to me in this Budget was the announcement of £432 million of additional investment to stabilise support for the most vulnerable. It was an absolute honour to welcome the Prime Minister and the Chancellor to my constituency on Monday, where we recognised the long-standing work of frontline rough sleeping outreach workers. This was a long-standing call from those who work in the sector to recognise the skilled work they do every single day to help the most vulnerable. I am proud that this Government have made the decision to make long-term investment to keep people off the streets. Not only is it the right decision and the compassionate decision—