Peter Gibson – 2022 Speech on the Finance Bill
The speech made by Peter Gibson, the Conservative MP for Darlington, in the House of Commons on 28 November 2022.
It is a pleasure to be called so early in the debate. At the outset, I want to put on record Darlington’s thanks for the £250 million that came to us during covid.
In the autumn statement, we saw increased spending on education, health and social care; the largest ever increase in the living wage, to £10.42, putting us within pennies of our ambition to reach £10.50 in this Parliament; the triple lock guaranteed for pensioners; virtually all benefits, and the benefits cap, increased in line with inflation; and support for those struggling to meet energy costs. The autumn statement and the Bill continue our commitment to deliver for those on the lowest income.
We all know that these are challenging times. We also know that inflation makes us all poorer. However, the challenges of inflation, energy prices and interest rates can all be tracked back to Putin’s illegal invasion of Ukraine. I know the Chancellor has had to make some difficult decisions, but I believe that he has been fair and done much to restore economic stability, while continuing to invest in vital services and infrastructure.
Prior to being elected to this place I was an employer running a small business, and I know that businesses will warmly welcome the news in the autumn statement, particularly those on our high streets facing a much needed reduction in rateable value, and therefore a lower rates bill. That reduction would ordinarily be phased in over three years, so the fact that they will receive the benefit immediately is welcome indeed. That is something that I have been pushing for and that I was delighted to see. In addition, the current 50% discount available to hospitality and retail businesses will now be increased to a 75% reduction, with no impact on income for our local authorities. The Government really are on the side of small businesses.
When the Chancellor comes to visit the Darlington economic campus, where my right hon. Friend the Prime Minister was working from on Friday—just as my hon. Friend the Exchequer Secretary to the Treasury did last week—I look forward to taking him to see some of our amazing local businesses, such Origins Home, Leggs Fashion and The Art Shop, and the transformation taking place in the Darlington yards thanks to investment from the towns fund.
We all know that talent and ability are spread throughout the country, but opportunities have not been. The north-east has lagged behind for too long, under Governments of all colours, but this Government’s ambitious levelling-up agenda is already paying dividends to communities such as mine in Darlington. As such, I welcome the Chancellor’s commitment to infrastructure spending, with continued support for key infrastructure projects, and the protection of the £1.7 billion levelling-up fund. I am keeping my fingers crossed for the forthcoming announcement on levelling-up fund round 2, to which Darlington has submitted an excellent bid.
In Darlington we are already ticking boxes on levelling up: £139 million at Bank Top station, delivering three extra platforms and improving regional connectivity; £35 million invested in our rail heritage quarter, delivering on our commitment to heritage and driving more visitors to Darlington; and £23.3 million invested in our town centre, seeing real change in the High Row yards, Northgate and Victoria Road. I could also point to investment in green technology at Cummins and investment in life sciences, so key to our vaccine success, at the Centre for Process Innovation, together with investment in Darlington College. It would be remiss of me to not mention the fantastic job opportunities afforded to local people through the creation of the northern economic campus, ensuring that people in Darlington can stay local but go far.
Darlington said goodbye to its Labour council in 2019, ending a 28-year period of decline, and it is now going from strength to strength with the Conservatives at the helm, working hand in hand with our Tees Valley Mayor, Ben Houchen. However, the Chancellor knows that my council, the third smallest unitary in the country, faces economic challenges because of a funding formula that disadvantages areas like mine. That is long overdue for reform, and I hope that he will pay that issue close attention. I know that the Exchequer Secretary is making notes, so I hope he is listening too as he works on local government settlements.
The cost of living support payments that have been distributed by the Government over the course of the last year and into this year have already totalled in excess of £39 million for the people of Darlington, and the announcements in the autumn statement amount to a further £18 million for them. At its heart, the autumn statement set out a compassionate plan, meeting the real challenges faced by our public services and the fears of people facing increased energy costs, and continues our commitment to our ambitious levelling-up agenda, including delivering real improvements on business rates for the nation’s high streets. This Finance Bill is good for the country and good for the people of Darlington.
