14:55 Angela Eagle (Labour)

The hon. Lady is making a powerful case for the need for investment in public services, but in that context, I wonder why the Labour party appears to be supporting the freezing of fuel duty. We know that the cost of freezing fuel duty since 2010 is a staggering £90 billion and that climate emissions since 2010 are 7% higher than they would have been had that policy not been in effect. Precisely because she wants more money to go into public services, can she explain why Labour is supporting this extraordinary policy?

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16:08 Chris Grayling (Epsom and Ewell) (Con)

At the same time, I am very pleased to see the investment in helping the development of sustainable aviation fuels. The Chancellor’s announcement earlier this week is welcome and necessary because, as I said at Prime Minister’s questions, this is an essential area for the aviation sector, which can take serious steps towards net zero only if it transforms the fuels it uses. Both for long-haul flights and in the immediate future, sustainable synthetic aviation fuels are the only way in which it can take such steps towards net zero.

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16:26 Sammy Wilson (DUP)

Having heard some of the speeches from Conservative Members, I suspect that, although they have given some welcome to this Budget, there is a great deal of disquiet about it. I am sure they were all hoping that the Chancellor would come out with a Conservative Budget that gave them a banner under which they could march towards a general election. Instead, we have what can only be described as an “Old Mother Hubbard” Budget. Although the Chancellor would have loved to have thrown bones to the electorate—nice juicy bones that they could bite on—so they would be happy to vote Conservative at the next election, in effect, the cupboard is bare. The cupboard is bare not because of the mismanagement of previous Governments, but because of the mismanagement of this Government, who have been in power for 14 years, from costly lockdowns that were badly thought out and whose economic consequences were never considered, to the ongoing billions being spent on net zero in the belief that, somehow or other, we can alter the world’s climate, to the failure to take up the opportunities of Brexit and the staggering tax burden under which the economy is now stumbling and failing to grow. All that is the result of decisions that were made by the Government, and this Budget is a manifestation of the consequences of that.

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17:17 Ian Blackford (Ross, Skye and Lochaber) (SNP)

Much has been said about Labour’s plans—now backtracked on—for £28 billion of green investment, but we need to recognise the scale of the opportunity to decarbonise the economy and create jobs. Let me take the example of green energy in Scotland. We can increase our green energy output fivefold and create up to 235,000 jobs. If we do not do that, other countries will make that investment and benefit from the opportunities in green energy. We need to grasp those opportunities and ensure that we can transition the economy. We need to ensure that we are creating the circumstances whereby people want to come and invest here.

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17:49 Mr Tobias Ellwood (Bournemouth East) (Con)

Our welfare structures are far simpler, fairer and better targeted, with transformative free childcare as well. National insurance contributions have now been cut to 8%—a tax cut for 29 million people. On the green economy, our agenda is world-beating: the fastest decarbonisation of any major economy, and the first to legislate for a net zero target. We hear today that there will be further steps as we invest in the modular nuclear reactor programme. Thanks to the tax breaks and investment incentives, we have the third-largest tech sector in the world, behind the United States and China. We are global leaders in pharmaceuticals, life sciences, quantum computing, artificial intelligence and aerospace, as well as fintech and financial services, backed up by some of the best universities in the world.

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18:22 Rachael Maskell (Labour)

It will be tough for Labour—our inheritance has been squandered—but we will stabilise, invest in and reform the economy. We must do so, rebuilding with fundamental Labour values that determine economic competence and stability and address the scourge of inequality. We will invest in future industries and jobs, innovations, entrepreneurs, and science and technology, not least on climate mitigation, with Great British Energy decarbonising the grid. We will double onshore wind, triple solar power and quadruple offshore wind, bringing down energy bills for the benefit of all.

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