This evening Greg Smith MP spoke in the third day of the Budget debate.
The Buckingham MP broadly welcomed the Budget as an tri-fold balancing act between continuing Covid support packages, providing stimulus for recovery and fixing the public finances.
Focusing on the level of public borrowing, Greg once more urged the Chancellor to save in excess of £100billion by scrapping HS2.
He particularly welcomed:
- the ‘super deduction’ measures to unlock investment;
- fuel duty freezes for families and businesses alike;
- the restart grants to give retail, hospitality and others a fighting chance;
- the extension of the 5% VAT rate;
- frozen alcohol duties;
- freeports and help to grow ;
- And the extension of furlough and self-employed grants .
Greg asked Treasury Ministers to find a way to give support to those so far without government help during the crisis, mainly the self-employed earning over £50,000 per year and owner/directors of Ltd companies who pay themselves via dividends. He also asked for specific help for the coach industry who are already indebted due to government requirements around PSVAR and Euro6 standards.
Concluding, Greg said: "This is a strong Budget. A budget that is honest about the level of national borrowing, but that understands the path to recovery must come from growth. If we can close the gaps and open up as soon as possible: this budget will set our country in good stead for growth and prosperity."
