💼 Oral Answers to Questions

• Encouraging Saving:
  • The government plans to expand the Help to Save scheme to all universal credit claimants in work starting next month.
  • There is a focus on building a better investment culture, with 85% of people currently not paying tax on their savings income.
  • Premium bonds are seen as a popular saving method that also funds public services.
• Help to Save Scheme:
  • The scheme, which has been running for seven years, offers £1,200 over four years and is considered valuable but has low uptake.
  • Plans are in place to better promote the scheme to increase awareness and participation.
• Investment and Cash ISAs:
  • The government acknowledges the importance of cash savings but aims to encourage more investment, not limited to the 8% of people who can afford financial advice.
  • Concerns about potential reductions in cash ISA limits are under review, with no immediate changes announced.
• Financial Innovation:
  • The government supports innovation in finance, including the digital gilt instrument (DIGIT), aiming to deliver it as soon as possible.
• Economic Growth in the East Midlands and East of England:
  • The government is focused on increasing economic growth, particularly through infrastructure investment like the new manufacturing and logistics park at East Midlands airport.
  • Defence spending increases are seen as beneficial for creating jobs and supporting British industry, with specific mention of opportunities in Thurrock and the East of England.
  • The National Wealth Fund, formerly the UK Infrastructure Bank, will support investments in defence and other sectors, with additional investments in Cornwall and energy infrastructure.
• Employer National Insurance Contributions (NICs) Increase:
  • The planned increase in NICs, part of efforts to restore public finances, is predicted to reduce potential output slightly but not hinder long-term growth.
  • Concerns have been raised about the impact on businesses, particularly in hospitality and childcare, with calls for reconsideration or mitigation measures like extended business rates relief.
• Transport Infrastructure and Economic Growth:
  • New transport infrastructure is seen as crucial for economic growth, with increased budgets and plans for further announcements in the spending review.
  • Specific projects mentioned include upgrades at Stevenage station and the midlands rail hub to improve connectivity and support regional development.
• Regional Growth Initiatives:
  • The government is committed to devolution, investment, and reform to boost regional growth across England, including support for specific local projects in Manchester, Birmingham, and Leeds.
  • Small businesses in sectors like craft brewing and distilling in Cumbria are set to benefit from permanent business rates relief.
• Affordable Housing:
  • The government has committed to increasing the supply of affordable housing with significant investments in the affordable homes programme.
  • Efforts are being made to streamline the planning process to facilitate quicker construction of new homes.
• Value for Money in Public Spending:
  • Measures are in place to ensure efficient spending, including the establishment of the Office for Value for Money and productivity targets for departments.
  • The government aims to address past wasteful spending and focus on aligning budgets with current priorities.
• Government Borrowing and Economic Stability:
  • The Chancellor has emphasized maintaining fiscal discipline, with recent GDP growth and stable public finances seen as foundations for economic stability.
• Economic Growth in Scotland:
  • Significant financial support has been allocated to Scotland, with a focus on economic growth, particularly in sectors like Scotch whisky.
  • Infrastructure issues, such as the A9 road, are acknowledged as critical for economic development.
• Taxation and Working People:
  • The government is committed to keeping taxes on working people low, with no increases planned for key rates like income tax and VAT.
  • Discussions on a potential wealth tax to address inequality and improve living standards are ongoing.
• Business Confidence and the Autumn Budget:
  • Recent surveys indicate rising business confidence, despite concerns voiced by some about the impact of budget measures.
  • The government highlights its efforts to maintain economic stability and attract international investment.
• Topical Issues:
  • Support for Ukraine through a significant loan agreement funded by profits from frozen Russian assets was announced, alongside increased defence spending.
  • Various sector-specific issues, such as support for indoor play facilities, palliative care funding, and the tin mining industry, were discussed.
  • The government is addressing flood defence improvements and business rates relief for pubs, while also considering the impact of policies on different sectors like agriculture and hospitality.

The parliamentary session displays a moderate level of disagreement, warranting a rating of 2. While there are instances of disagreement expressed, the overall tone remains focused on policy discussion and clarification rather than heated confrontation. The disagreements are mostly centered on specific policy decisions rather than personal or broader ideological conflicts. For example:

1. National Insurance Increase: There are multiple questions challenging the Chancellor’s decision to increase national insurance contributions, particularly regarding its impact on businesses and employment. Members such as Monica Harding, Munira Wilson, and James Wild express concerns about the negative consequences for sectors like hospitality and childcare. While the responses from the Treasury bench, notably from James Murray, acknowledge the concerns and explain the necessity of the decision for public finance stability, the disagreement remains at a policy level.

2. Agricultural Property Relief and Business Property Relief: Disagreement arises on changes to this relief, with Jim Allister and others from the farming community protesting against what has been termed the ‘family farm tax’. The responses from the Treasury indicate an acknowledgment of the disagreement but firmly assert the need for the policy to balance the budget.

3. Defense Spending and Economic Growth: Sir Edward Leigh commends the Chancellor’s approach to increasing defense spending, which shows agreement on fiscal conservatism. Conversely, Lee Anderson directly criticizes the national insurance increase for impacting business growth, suggesting a misalignment with the government’s growth objectives.

4. Investment and Infrastructure: There are questions on regional growth and infrastructure, such as those from Graham Stringer and Darren Jones. These exchanges involve debate on the effectiveness and fairness of government policies but are generally constructive.

Overall, while there is a noticeable level of disagreement, it primarily focuses on the merits and impacts of specific policies rather than escalating into broader ideological conflicts. The session does not indicate significant personal attacks or a breakdown in parliamentary decorum, keeping the disagreements within the realm of policy critique and discussion.