Phil Brickell

It is a pleasure to speak in this debate on the first Labour Finance Bill in 14 years, and an even greater pleasure to respond to the very first Budget delivered by a female Chancellor. It is also an honour to speak on Lancashire Day, and I would like to put on record my congratulations to all my constituents in Bolton West and further afield who are celebrating this important day. As others have done, I congratulate the Chancellor and thank her for blazing a trail for girls in my constituency to follow. In response to the remarks from the shadow Chancellor, the right hon. Member for Central Devon (Mel Stride), I would say that having spent 14 years working in FTSE 100 companies, I believe that the measures in the Bill will be a turning point for our country. They are the first step in fixing the foundations of a broken economy after 14 long years of economic vandalism by the Conservative party. Let me be clear: the Labour Government inherited a difficult financial situation, with debt above 90% of GDP, millions of pounds of public money wasted during the pandemic, including via contracts awarded through the VIP fast line, inflation at 11%, and a cost of living crisis that bore down not just on the most vulnerable in my constituency, but on working families, young people and many businesses. That is the economic inheritance bequeathed by Conservative Members, and we should take no lessons from them on how to manage the public finances. To that end, I very much welcome the measures in the Bill.