John Lamont

My hon. Friend is absolutely right. The Budget creates no incentives for people to invest and take the risk of setting up and growing a business. It sends out all the wrong messages about what we want in a country that has traditionally been full of entrepreneurs. Because of the doom loop that the Chancellor has created, it will always be hard-working businesses and families who pay the price for her economic failure. The Chancellor could have made much better choices in her Budget. She could have saved £47 billion, including £23 billion from welfare, avoiding the need to increase taxes in this way altogether. She could have introduced a cheap power plan to bring down energy costs for homes and businesses. But the Chancellor has not listened. She has not learned from the mistakes she made in last year’s Budget. This Labour Government promised economic stability, but this Budget does nothing to make that a reality, which is why Conservative Members oppose it so strongly.