Contribution
Thank you, Mr Speaker, for coming especially to hear my speech; I am most grateful to you.
We have seen the rise today of a new political philosophy. It is called miserablism. They are so miserable about everything. The Chancellor could have stood at that Dispatch Box and said anything—he could have awarded £1 million to every single person in the country—and still the Opposition would have complained, because all they ever do is talk about prescription, rather than what they would do instead.
When I first came into this House, all I ever heard about was deficit reduction. I heard Members who have spoken today say, when we were on the Opposition Benches, that we should apologise. We hear no such apology now. The very tenet of miserablism is to ignore the good news, such as the fact the deficit is coming down. The Chancellor has said that we will be back in the black within three years, despite economic headwinds that we have no control over in Ukraine and the middle east. The fact is that, on the ground, people are seeing the change.
I will talk about three things in the limited time I have. First, on small businesses, my constituency is full of independent small businesses run by hard-working, innovative people. They add to our vibrant high streets and town centres, creating a sense of community. Small businesses will find it easier, thanks to this Budget, to serve their communities and provide local jobs. The increase in the threshold required to pay business rates, from £12,000 to £18,000, will lift 70,000 properties in the UK out of paying business rates and will help so many businesses in Caerphilly.
If anybody wants to see the good news in Caerphilly, just look at what has been happening in Caerphilly borough, which in September was announced as having the fastest business start-up rate in the whole of Wales. Caerphilly has experienced a 49% increase in business start-ups during the first eight months of this year compared with the same period last year. That is a testament to Jamie Pritchard, the leader of our Labour-controlled council.
People want to come to Caerphilly to do business because they believe in what we are doing there. Alongside that, the UK Government are channelling investment into south Wales, which has helped to unlock £23 million for Norgine, a leading European pharmaceutical company in my constituency, to develop its Hengoed facility, which is expected to create 44 new jobs.
If I was going to talk about one thing that does affect most people—if I had to take a straw poll in my constituency—it would be energy bills. Extending the VAT cut to July will help so many people. Not just householders will benefit from that. I remember visiting a business in my constituency, Rees Gym, which was worried about energy costs. The new British industrial competitive scheme will cut costs there as well. Gas standing charges will be removed from household bills. There will be a payment of £100 into people’s bank accounts if they are in council tax bands A to D, and the Plaid Cymru-led Welsh Government have already said that they will honour that in Wales, although they have also complained about some sort of cut. Miserabilism has found its way across the channel as well.
I also want to say something about the miners. I come from a mining family. My grandfather was a miner. He was buried under three tonnes of coal and was invalided out of the mines. He was an example of the hundreds of thousands of people who built our society and who sacrificed their life and their health to keep this country moving. That is why I am so pleased that 100% of the surplus of their pensions will now go to them. It is only the beginning, and yes, we need to talk about future bonuses, but I am heartened and I genuinely believe that the Chancellor is a good man. He comes from working-class stock, as I do. He will speak with the National Union of Mineworkers and we will come up with a deal that will be satisfactory to all sides. I want to say to all those ex-miners who live in my constituency: we are on your side, we hear what you are saying and we will continue fighting for you until you get the justice you deserve.
Finally, in the last couple of seconds, I want to talk about defence. It is all very nice and warm to say, “Let’s hit 3.5% of GDP by 2030”, but that only scratches the surface. I am looking at the right hon. Member for South West Wiltshire (Dr Murrison), who was a Defence Minister; he will know the same things that I know. The Ministry of Defence is a uniquely failing Ministry. It is wasting money. If we want an example, let us look at Ajax. The MOD has already spent £5.5 billion on an armoured vehicle that is still not in service. That £5.5 billion could have been used on other things such as training exercises or equipment.
I make this appeal to the Chancellor. When he was the shadow Secretary of State for Defence and I was the shadow Defence Procurement Minister, we came up with a policy that said that the Comptroller had to look at the way the Ministry of Defence spent its money. I hope he resurrects that idea and sends the National Audit Office in to make sure that every penny piece is accounted for, because that is the only way forward.