Budget 2021
Today I spoke (virtually) in the House of Commons in response to the Chancellor’s Budget.
Budget 2021 is set against an incredibly difficult backdrop, with COVID placing immense strains on the economy. The Chancellor was honest about the challenges which this will bring in the future, but geared his Budget towards protecting, supporting and creating jobs.
Locally there is much that I think is positive, from the continuation and expansion of coronavirus support to individuals and businesses, as well as sector specific support for hospitality, small businesses and manufacturing.
The Chancellor also announced that Barrow has qualified for £150,000 in direct support to enable us to put a good bid into the Levelling Up Fund, and also £20,000 from the Community Renewal Fund - which will help us begin to tackle some of the longer-term issues which affect our community at present.
You can watch my speech above, and read the text below:
Thank you Madam Deputy Speaker.
It is incredible to think that the Budget last year didn’t even contain the word furlough.
12 months ago, the focus was levelling up. Now, it is rightly on recovery. And on how that recovery can drive growth in communities like mine.
The scale of the support from this Government is simply staggering - £65billion in this Budget alone, and closer to £407billion in total.
All of us in this place have become perhaps too used to the idea that if we make the right case, financial support will flow from the Treasury. Of course, in these challenging times, it is not difficult to find people and organisations who are worthy of support.
And that is why I believe that this is a truly bold Budget, where my RHF has been honest with the British people on the difficult decisions which lay ahead, while maintaining a clear focus on supporting people through COVID, and on jobs and growth as we move to recovery.
I hold my hand up and acknowledge that I have been one of those asking, Oliver-like, for ‘more, sir.’ This has no doubt been wearing at times, so I’d like to thank my RHF and his fantastic Treasury team for being open to colleagues with ideas and listening to those of us with our bowls out with good grace.
It is that spirit of generosity that I think rings through this Budget.
Extending furlough to the end of September, ensuring a further 600,000 self-employed people get support as access to grants is widened - this is the response of a Chancellor that recognises what a lifeline these schemes are, and how crucial they will be to recovery and retaining jobs as we emerge from the pandemic.
Similarly, the extension to the Universal Credit uplift is so very welcome. This uplift was brought in to help people through the extreme challenges of the pandemic. Its continuation is not cheap, but for the many people who have been pushed into the category of just about managing in this crisis, it is a lifeline.
This hand up to those who need it the most is yet another policy compassionately delivered in the face of an incredibly challenging backdrop.
Taken together, these measures will protect livelihoods across the UK and provide peace of mind and the ability for firms and families to catch their breath as we leave lockdown.
Walking down Dalton Road in Barrow, you can't get away from the very visible signs that our high street is struggling. My local business owners campaigned hard to gain support. They so very much want to be part of the recovery, and I'm delighted that my RHF has recognised the important role that they have to play.
The combination of generous restart grants for retail businesses, and greater support still for hospitality and leisure who have been particularly hit by coronavirus restrictions, is very welcome.
If we in Cumbria want to boost tourism we need our pubs, bars and restaurants to weather this storm. Restart grants, extending the VAT cut, and a freeze in alcohol duty, will make all the difference.
The 100 per cent business rates holiday last year provided a safety net for so many. Seeing that continue, with the vast majority of businesses receiving a 75 per cent cut next year, will help our high streets play the part they want to in our recovery.
I was elected to a community that felt left behind and that it hadn't seen investment for decades. In the last year alone we have seen that corner turned, with £25million awarded in our Town Deal and the Grizebeck bypass funded. I am incredibly grateful to colleagues from the Treasury and across government for enabling that to happen.
I am delighted that there is even more for Barrow & Furness, and for communities like mine in this Budget. The £150,000 in levelling up capacity funding for Barrow will enable my Council to put forward a good bid for the Levelling Up Fund. Winning that will make a tangible difference to our town.
Similarly, the £20,000 Community Renewal Fund which has been granted to Barrow will help us pilot new approaches to tackle some of the most difficult issues we are facing now, supporting new approaches to tackling poverty, and reinforcing our community as a place where people want to live, work and visit.
The huge capital allowance bonus for manufacturing is also an incredible boon for the North and will allow us to unlock some of the latent investment which is out there. For communities like ours with strong manufacturing bases - from defence to subsea, from world-class LED lighting firms, to global exporters.
This is a remarkable Budget for the North, and for the whole of the UK. I am grateful to my RHF the Chancellor for his honesty at the scale of the challenge we face, but also for his determination to support people and businesses through this storm.
Thank you Madam Deputy Speaker.
