Finance Bill

Part of Bill Presented — Constitutional Convention (No. 2) Bill – in the House of Commons at 3:32 pm on 21st July 2015.

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Photo of Maria Caulfield Maria Caulfield Conservative, Lewes 3:32 pm, 21st July 2015

I will not give way; the hon. Lady will be pleased to know that I am almost at the end of my speech so I will continue if I may.

There are some great measures in this Bill to support businesses, small and large, which have been the engine-room of our economy over the last few years. Cutting corporation tax from 20% to 18% by 2020 will be a huge help to many of them, and the ability to employ four people full-time on the new national living wage and pay no national insurance at all will be a real incentive to them to take more people on. There is also the increase in the annual investment allowance so that companies can grow their business more easily. All this means employers, not the state, will be increasing people’s incomes, so that Government money can be used to fund essential public services instead.

This is a Budget that not only deals with our deficit, but tackles the country’s debt in a way that supports those who work hard and do the right thing. This is a Budget that says to the ordinary person in the street that if they work hard, get up early and come home from work late they deserve a decent wage and a home. They should not have their wages topped up with benefits, but instead earn a decent wage in the first place. With the breaks that we are giving to employers, we expect them to invest in their workforce in return.

This is a Budget of aspiration not just for the individual, the family and businesses, but for the country as a whole, and that is why I support it.