My Lords, it is a privilege to follow the powerful speech of the noble Lord, Lord Bird. It is with a strong sense of responsibility that I rise to speak for the first time in this Chamber.

Excellence in debate characterises your Lordships’ House, and we have already heard many outstanding...

My Lords, it is a privilege to follow the powerful speech of the noble Lord, Lord Bird. It is with a strong sense of responsibility that I rise to speak for the first time in this Chamber.

Excellence in debate characterises your Lordships’ House, and we have already heard many outstanding...

My Lords, as the noble Lord, Lord Macpherson, has said, the Chancellor faced a very difficult set of conflicting challenges. Having myself delivered one Budget on the very eve of a general election, I particularly appreciate the almost intolerable pressure that was on the Chancellor—although I think he delivered a...

My Lords, as the noble Lord, Lord Macpherson, has said, the Chancellor faced a very difficult set of conflicting challenges. Having myself delivered one Budget on the very eve of a general election, I particularly appreciate the almost intolerable pressure that was on the Chancellor—although I think he delivered a...

My Lords, the message I get from anti-poverty, children’s and women’s organisations in response to the Budget is one of weary disappointment. They are weary because here is yet another Budget that fails to put first the interests of those for whom they speak, and there is disappointment because, as...

My Lords, the message I get from anti-poverty, children’s and women’s organisations in response to the Budget is one of weary disappointment. They are weary because here is yet another Budget that fails to put first the interests of those for whom they speak, and there is disappointment because, as...

My Lords, I welcome two announcements in the Budget, one of which was touched on by the noble Baroness, Lady Lister.

Last month, along with other noble Lords, I called for an extension of the household support fund, which was otherwise due to expire at the end of this month. This...

My Lords, I welcome two announcements in the Budget, one of which was touched on by the noble Baroness, Lady Lister.

Last month, along with other noble Lords, I called for an extension of the household support fund, which was otherwise due to expire at the end of this month. This...

My Lords, it is always a pleasure to follow my noble friend Lord Young of Cookham.

I looked back at what I said in November when we debated the Chancellor’s Autumn Statement. At my stage in life, that is a wise precaution—an aide-memoire is helpful. For this non-dogmatic, non-ideological, pragmatic, prudence-supporting...

My Lords, it is always a pleasure to follow my noble friend Lord Young of Cookham.

I looked back at what I said in November when we debated the Chancellor’s Autumn Statement. At my stage in life, that is a wise precaution—an aide-memoire is helpful. For this non-dogmatic, non-ideological, pragmatic, prudence-supporting...

I want to talk about the 9 million people who the noble Lord, Lord Lamont, spoke of as being economically inactive—I think it was 9 million or just over, if I got that right. It is interesting—is it not?—that, if you look at what a bank does with its money,...

I want to talk about the 9 million people who the noble Lord, Lord Lamont, spoke of as being economically inactive—I think it was 9 million or just over, if I got that right. It is interesting—is it not?—that, if you look at what a bank does with its money,...

Hear, hear.

5.25 pm

Hear, hear.

5.25 pm

My Lords, I am delighted to have the chance to follow that excellent maiden speech by my noble friend Lord Kempsell. He is absolutely right about the secret—I think he called it the lacuna—at the heart of government, which many commentators overlook. Promoting grand

new programmes and promising this, that...

My Lords, I am delighted to have the chance to follow that excellent maiden speech by my noble friend Lord Kempsell. He is absolutely right about the secret—I think he called it the lacuna—at the heart of government, which many commentators overlook. Promoting grand

new programmes and promising this, that...

I congratulate the noble Lord, Lord Kempsell, on his excellent, informative and measured maiden speech. I am sure he will be an asset to the House. I mainly want to question the Government about their proposals on national insurance, which are clearly a major part of the Budget and have...

I congratulate the noble Lord, Lord Kempsell, on his excellent, informative and measured maiden speech. I am sure he will be an asset to the House. I mainly want to question the Government about their proposals on national insurance, which are clearly a major part of the Budget and have...

My Lords, I am glad to follow the noble Lord, Lord Davies of Brixton, and to hear his analysis and comments on NICs. I have a long interest in the contributory system and how it developed in the interwar and post-war years, but I will not speak on NICs today....

My Lords, I am glad to follow the noble Lord, Lord Davies of Brixton, and to hear his analysis and comments on NICs. I have a long interest in the contributory system and how it developed in the interwar and post-war years, but I will not speak on NICs today....

I too welcome the noble Lord, Lord Kempsell, and congratulate him on his maiden speech, which was concise and interesting. That bodes well for future contributions.

I recognise the scenario that the noble Lord, Lord Eatwell, put forward. I did not really recognise the scenario that the Minister put forward. I...

I too welcome the noble Lord, Lord Kempsell, and congratulate him on his maiden speech, which was concise and interesting. That bodes well for future contributions.

I recognise the scenario that the noble Lord, Lord Eatwell, put forward. I did not really recognise the scenario that the Minister put forward. I...

My Lords, it gives me no pleasure to describe our country today as pothole Britain. For years, we have lived beyond our means, compounded, of course, by Covid and Brexit. Most public services are in dire need of greater resources. National morale is very low indeed.

I am supportive of some...

My Lords, it gives me no pleasure to describe our country today as pothole Britain. For years, we have lived beyond our means, compounded, of course, by Covid and Brexit. Most public services are in dire need of greater resources. National morale is very low indeed.

I am supportive of some...

My Lords, I will start by being positive about the Budget and talk about the things that I like. First, tax cuts are good, so I support the reductions in national insurance contributions. This will increase incentives to work.

Secondly, the longer-term ambition to eliminate employee national insurance contributions is excellent...

My Lords, I will start by being positive about the Budget and talk about the things that I like. First, tax cuts are good, so I support the reductions in national insurance contributions. This will increase incentives to work.

Secondly, the longer-term ambition to eliminate employee national insurance contributions is excellent...

My Lords, I am afraid I do not share the admiration the noble Baroness has for the Laffer curve, as I shall try to explain a little later. The opportunity given to this House by a debate on the Budget is not to vote on its proposals, as we do...

My Lords, I am afraid I do not share the admiration the noble Baroness has for the Laffer curve, as I shall try to explain a little later. The opportunity given to this House by a debate on the Budget is not to vote on its proposals, as we do...

My Lords, I join in the congratulations offered to the noble Lord, Lord Kempsell, on an excellent and inspirational maiden speech. I welcome this Budget as yet another example of prudent management of our economy while trying to stimulate growth which—I am afraid I disagree with the noble Lord, Lord...

My Lords, I join in the congratulations offered to the noble Lord, Lord Kempsell, on an excellent and inspirational maiden speech. I welcome this Budget as yet another example of prudent management of our economy while trying to stimulate growth which—I am afraid I disagree with the noble Lord, Lord...

My Lords, I too welcome the noble Lord, Lord Kempsell, to this House and look forward to hearing from him again very soon.

For the last 14 years, seven Chancellors, carrying red boxes rather than red noses, have promised to rejuvenate the economy, eradicate poverty, cut taxes and improve public services....

My Lords, I too welcome the noble Lord, Lord Kempsell, to this House and look forward to hearing from him again very soon.

For the last 14 years, seven Chancellors, carrying red boxes rather than red noses, have promised to rejuvenate the economy, eradicate poverty, cut taxes and improve public services....

My Lords, like many others, I saw some encouraging measures to address investment in Britain in the Chancellor of the Exchequer’s Spring Budget. There is, after all, a widely recognised view that Britain needs much more investment to power its economic growth plans. In this debate, I will reflect on...

My Lords, like many others, I saw some encouraging measures to address investment in Britain in the Chancellor of the Exchequer’s Spring Budget. There is, after all, a widely recognised view that Britain needs much more investment to power its economic growth plans. In this debate, I will reflect on...

My Lords, in introducing this debate and Bill, the Minister spoke—several times, I think—of a long-term plan. In the current political climate, that might be taken as a definition of optimism. Yet perhaps the Minister is right that what we are talking about is a long-term plan, because what we...

My Lords, in introducing this debate and Bill, the Minister spoke—several times, I think—of a long-term plan. In the current political climate, that might be taken as a definition of optimism. Yet perhaps the Minister is right that what we are talking about is a long-term plan, because what we...

My Lords, as an economist as well as a politician, I have always believed that the economy should work for everyone. As a northerner, I am also keen on levelling up, because I am conscious that the rest of the country has fallen behind London and the south-east over the...

My Lords, as an economist as well as a politician, I have always believed that the economy should work for everyone. As a northerner, I am also keen on levelling up, because I am conscious that the rest of the country has fallen behind London and the south-east over the...

My Lords, I congratulate the noble Lord, Lord Kempsell, on an excellent maiden speech, which was thoughtful and brief—and, as we all know, concision is next to godliness.

I have learned a lot in this debate, including the operation of the VAT regime on nuts—probably more than I would have wanted...

My Lords, I congratulate the noble Lord, Lord Kempsell, on an excellent maiden speech, which was thoughtful and brief—and, as we all know, concision is next to godliness.

I have learned a lot in this debate, including the operation of the VAT regime on nuts—probably more than I would have wanted...