Adam Thompson

I was elected to this House to be a voice for working people, and the thousands of families in Erewash who, in 2022, saw their mortgages skyrocket because the Conservatives sent markets spiralling with billions in unfunded tax cuts. The people who I represent did not vote for Liz Truss—most of them did not know who she was. It was hard-working families up and down the country and in Erewash who paid the price for her failures all the same. That should never happen again. What my right hon. Friend the Chancellor did last month in the Budget—made actionable by this Bill—was take the necessary decisions to ensure that there will never be another Liz Truss moment. The Bill will, by the end of the decade, deliver the fiscal headroom that we require to withstand shocks and help pay down the national debt. It does so while we deliver record levels of public investment, and without a return to the brutal, crippling austerity that gave this country 14 wasted years under the previous Government. Change is already under way. The economy is now forecast to grow faster this year than previously expected, and as record investments and trade deals made and secured by this Government pay off, and reforms to stifling planning rules finally come through and deepen, it can grow further. In the first year of this Government, average wages grew more than they did in the entire lost decade of the 2010s, and what happens when workers have more money? They do not sequester it in Dubai or the Cayman Islands; they spend it—on housing, on food, on our high streets, in the pub, and on their children, the greatest investment of all. Rewarded properly for their labour, they fuel our economy.