Dr Neil Shastri-Hurst

This debate is much broader than mere numbers on a spreadsheet buried in the Treasury; it is about trust, stewardship and the future of our country. That matters because, at the last general election, the now Government and all those elected on their manifesto said they would not raise taxes on “working people”, yet at last year’s Budget, they did precisely that. They introduced £40 billion-worth of tax rises—under the guise of national insurance in the majority of cases—which have a trickle-down effect on working people up and down the country. To compound matters, on 25 November last year the Chancellor addressed the Confederation of British Industry and made a cast-iron promise: no more borrowing, and no more taxes. That was a pledge to every family, every community and every business in this country, yet we are now on the precipice of the Government breaking their promise. To do so would irreversibly damage the public’s confidence in the Government’s ability to manage our economy. Simply put, every tax rise hits families, pensioners and small businesses. There is a simple maxim: borrowing today is merely debt for tomorrow. Every pound borrowed has to be repaid, and it has to be repaid with interest. I know that those on the Government Benches do not necessarily regularly take the words of Margaret Thatcher to heart, but she said: “Pennies don’t fall from heaven. They have to be earned”. That is what people up and down this country are doing every day: they are grafting to provide for their families and their future. She was absolutely right. History teaches us that unchecked spending commitments undermine growth, reduce confidence and erode the state’s ability to serve those who are most vulnerable. By contrast, having control over public expenditure is not an ideology or something to be feared; it is simply common sense. It is about cutting waste, and it is about making hard choices today so that future generations are not saddled with crushing debt. That is responsible government. It was Churchill who said that “the price of greatness is responsibility”. When the Government came into power with great fanfare, there was a sense that they wanted to be a great reforming Government. Well, is there any greater responsibility than to families, who budget carefully; to citizens, who trust the Government to keep their word; and to the public, who expect manifesto promises to be kept? People live within their means.