Management of the Economy and Ministerial Severance Payments

Part of the debate – in the House of Commons at 2:18 pm on 15 November 2022.

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Photo of Helen Hayes Helen Hayes Shadow Minister (Education) 2:18, 15 November 2022

In my seven and a half years in this place, I have never known a time like this. Our country was already straining and buckling under the weight of 12 long years of austerity, the impact of the covid-19 pandemic, the economic consequences of Brexit and the war in Ukraine. But when people across our country most needed leadership, comfort and meaningful support from their Government, the Government gambled their security on their own ideological slot machine, inflicting entirely unnecessary additional damage on the economy, instigating a financial crisis and opening a vast, gaping hole in the public finances.

There is another thing I have never known before: the sheer scale and extent of the collective anxiety out there in our communities. That is palpable everywhere I go. People are terrified about how they will meet increased mortgage or rent payments, terrified about how they will afford to pay their bills and terrified about how they will continue to feed their families and keep a roof over their heads this winter. By undermining our economic security so much, this Government have delivered a huge blow not only to our nation’s finances and the health of our economy, but to our nation’s mental health.

What is the response of the Government and Conservative Members? To put the blame everywhere but at their own door. In no other country anywhere in the world did the central bank have to step in overnight to stop a collapse in pension funds