Finance Bill - The entire Finance Bill being debated

Critiques the increased energy profits levy as driving investment out of the North Sea, causing a loss in revenue for taxpayers while not affecting oil and gas consumption, resulting in negative environmental, fiscal, and job impacts.

Challenges the Minister's claim about economic growth, noting that the previous Conservative government inherited a fast-growing economy in the G7 and questions whether current growth forecasts under this Government will be lower than those under the previous one.

Questions whether the manifesto committed to reducing economic growth under this government and criticises taxing small family farms for a total revenue of £590 million.

Praises the previous Conservative Government's efforts to halve the tax gap inherited from Labour in 2010.

Argues that state school parents work just as hard as private school parents and deserve proper funding for their children's education.

Questions the Minister on whether taxing small family farms was part of the manifesto and challenges the commitment to reducing economic growth under this government.

Raises concerns about private school parents moving their children into an overcrowded state system, impacting mental health and welfare of these students. Calls for a dedicated fund to support affected families.

Critiques the Conservative government's changes to the state education system, highlighting negative impacts on young people’s mental health due to sudden syllabus and grading changes.

Questions whether taxing the North Sea industry at a higher rate than other countries is justified, given potential negative economic impacts.

Inquires about the overall cost to the Exchequer of compensating the public sector for increased employer national insurance contributions, questioning the fiscal balance.

Seeks an update on discussions with devolved governments and local authorities regarding compensatory funding for increased employer national insurance contributions.

Ghani intervened, cautioning Mel Stride against using the word 'deceit' in the Chamber. She did not provide her own arguments but was part of defending Conservative positions on the debate.

Asked Stride about previous conversations with Liz Truss regarding respecting the OBR, suggesting a critical stance towards the use of economic forecasts and past government actions.

Intervened to affirm Conservative criticism of Government by using 'on the Government’s watch' in response to interventions from Labour MPs.

Agreed with Stride's depiction of economic weakness caused by the Budget, adding that it makes the country more vulnerable to future shocks without proper resilience.

Prophecied that there is no prospect of improvement after things get worse, supporting Stride's negative assessment of the Budget's impact.

Asked Stride to explain which investments in public services he would cut if against all revenue-raising measures, challenging the Conservative position on economic priorities.

Questioned whether the Chancellor's commitment to end tax-raising days is credible given recent developments and lack of reassurance from junior ministers.

She opposes parts of the Finance Bill, arguing that it fails to address tax inequalities and supports policies like inheritance tax measures which harm family farms. She also criticises the increase in alcohol duty for its impact on small businesses and craftsmanship. While acknowledging some positive steps by the Government, she concludes that Liberal Democrats would have made different decisions.

Intervened to question Daisy Cooper's critique, suggesting that the Liberal Democrats facilitated a coalition government criticised in this debate.

Welcomed measures in the Bill that increase stamp duty on second home ownership, closing tax gaps to fund public services. Argued for greater investment in enforcement bodies like HMRC and SFO, proposed council tax reform for fairness, and supported increased defence spending.

Intervened to highlight positive economic conditions before Labour's tenure, questioning the accuracy of the current narrative on economic challenges.

Critiqued measures in the Bill that increase national insurance contributions and lower business rates relief, arguing they will harm businesses already struggling with rising costs. Emphasised need for support rather than additional burdens on small and medium-sized enterprises.

Argues that the Budget is necessary to reset finances after inheriting a £22 billion black hole in public finances. Highlights the impact of increased funding for health and education services, including 40,000 extra elective appointments weekly and recruitment of 6,500 teachers. Supports measures to boost public investment by over £100 billion over five years.

Mr. Stuart criticised Labour's economic policies for being misleading and harmful to private enterprises, particularly farmers. He also highlighted the negative impact of increased national insurance contributions on special educational needs funding and social care costs.

Intervened to critique Mr. Stuart's speech, highlighting the economic challenges of previous Conservative governments and suggesting that Labour should not feel compelled to support their current policies.

Intervened briefly during Mr. Stuart's speech, although no specific arguments were provided in the transcript excerpt.

Supported Mr. Stuart by referencing his own experience working for a charity and highlighting the negative impact of employment rights decisions on charities and non-profits.

Noted that the debate should focus specifically on the Finance Bill rather than a general critique of the Budget. She also intervened to remind all Members about the nature of windfall taxes, emphasising their role in raising money from unexpected profits.

Intervened briefly to critique Mr. Stuart's speech, questioning the nature of windfall taxes and their impact on future investment plans by oil and gas giants.

Supports the Finance Bill for its commitment to invest in NHS, boost living standards with minimum wage rise, provide relief through fuel duty freeze, and fund social homes construction. Emphasises that fiscal responsibility is central to the Government’s approach and that sound fiscal rules ensure sustainable growth.

Intervened to point out that there was never a reduction in NHS spending; it went up in real terms every single year under the previous government.

Agrees with Alex Ballinger’s speech and welcomes measures such as cutting beer duty, which is important for small businesses in brewing towns.

Critiques the Finance Bill for failing to provide adequate funding for local authorities, increasing alcohol duty, scrapping £2 fare cap for buses, hitting small businesses, and not supporting people with cost of living crisis. Suggests a fairer way by asking big corporations to pay their fair share.

Critiques the previous Conservative Government's economic policies, highlighting issues like flatlined wage growth and increased national debt. Points out that Conservatives failed to meet their deficit elimination promise. Emphasises the need for a new Labour Government to rebuild the country's economy.

Instructs fellow MPs to focus on debating the Finance Bill rather than discussing the context of the Budget. Interacts with other speakers to maintain procedural decorum.

Argues against taxing independent education, emphasising parental choice and the principle of not taxing public goods. Suggests that other countries recognise this value through their tax systems.

Intervenes to point out that the Institute for Fiscal Studies has confirmed there is sufficient capacity in state education to accommodate pupils from independent schools. Emphasises the importance of special educational needs being addressed.

Intervenes to suggest that there will be a movement of teachers from private back to public education due to the hope given by the new Labour Government, citing personal experience.

Praises Conservative Members for their opposition role and champions the Finance Bill as essential to delivering economic stability and growth. Argues that it will create conditions for long-term investment and improve public services.

Interjected to agree with Dave Doogan on increasing the levy by 3.65%, highlighting another attack on Scotland’s main industry, the Scotch whisky sector.

Asked if it was fiscally responsible for the SNP Finance Secretary to use all £460 million from offshore wind and questioned the Scottish National Party’s consistency on fiscal responsibility.

Challenged Dave Doogan's claim of honesty, asking whether Labour had promised to reduce energy prices by November 2024 and raised the minimum wage as stated in their manifesto.

Asked if Dave Doogan would acknowledge that the Scottish Government could have used additional resources to extend winter fuel allowance, but chose not to, emphasising devolved power.

Welcomes the measures announced in the Budget that form the legislation, criticises previous Conservative mismanagement, emphasises the need for a grown-up Government to make difficult decisions, supports investment in NHS and public services, mentions benefits such as reduced waiting lists and increased minimum wage.

Asks Members to debate the Finance Bill's Second Reading rather than rehashing the Budget, intervenes with two other Conservative MPs about education funding.

Tells a story of aspiration and sacrifice by parents sending their children to independent schools, criticises the policy to charge VAT on private school fees as disruptive for students and harmful to educational standards in state schools.

Defends the Budget as an opportunity to demonstrate financial responsibility, supports economic growth through fiscal stability, mentions tax increases on non-dom loopholes and low capital gains tax.

Ms. Cross criticises the Government's decision to increase EPL by removing investment allowances, arguing that it discourages North sea investments. She mentions OBR figures showing projected declines in production and capital expenditure, alongside a significant loss of tax revenue due to reduced investment. Additionally, she highlights how such policies negatively affect local economies and communities dependent on oil and gas sectors.

Mr. Arthur inquires about the impact of previous EPL rate increase by the Conservative Chancellor from 25% to 35%, suggesting that any negative effects should have been considered before further increases.

Mr. Doogan questions the link between Apache's announcement of pulling out from North sea basin and Government fiscal decisions, suggesting that such moves impact local businesses negatively.

Mr. Narayan defends the Government’s Finance Bill, highlighting its stability and economic benefits for households across the UK, with a specific focus on Wales where he states that public services will benefit from £1.7 billion in funding.

Chris Coghlan, a member of the Treasury Committee, criticised the Finance Bill and Budget for not addressing chronic structural problems in the British economy. He pointed out that public sector net debt is approaching 100% of GDP, making borrowing difficult to invest in future growth or cope with shocks. The OBR forecasts indicate that for every £1 borrowed by the Government, the economy will grow by only 60p next year and reverse these effects in five years. He emphasised the need for targeted public investment and R&D spending to boost productivity and economic growth but noted that the Budget allocates only £25 million towards such efforts.

Luke Charters defended the Finance Bill as essential for funding public services, including healthcare and education. He praised measures such as tobacco duty increases, non-dom tax status changes, and oil and gas windfall taxes which he argued will raise revenue to fund NHS recovery, improve primary care services, and benefit schools in his constituency. Charters also highlighted cuts to alcohol duties on draught products and VAT increase on private school fees, noting that these measures will support local businesses like breweries while funding public services.

Mr. Mayhew argues against Labour's proposed spending increases, stating that the government is misleading the electorate with their policies on taxation and public borrowing. He claims these policies will result in a reduction of 50,000 jobs as well as reduced living standards by 1.25% over the forecast period due to increased costs for businesses.

Intervened to question Mr. Mayhew about whether his constituents would welcome investment in public services such as education, SEND, the NHS, and councils from the proposed budget.

Asked Mr. Mayhew about his government's productivity record and challenged him to explain how long it would have taken to make a mark on productivity.

Supported Mr. Mayhew, questioning Labour Members about their economic growth projections and reminding them of the impact of longer lockdowns during the pandemic under previous government advice.

Asked Mr. Mayhew to clarify whether he was advising businesses not to employ 18-year-olds or telling young people they should be paid less due to his economic arguments.

Congratulated Samantha Niblett on her maiden speech and highlighted the importance of involving women in technology. Discussed how the Labour Budget supports health services, especially at a local level, emphasising the shift towards neighbourhood health services. Argued for funding investments over accepting slow decline as per Conservative policies. Mentioned ending injustice of the mineworkers’ pension scheme to benefit 500 families. Supported £44 million funding increase for kinship and foster carers, praising Wigan's provision of adult social care. Emphasised that higher productivity and technology mean more care needs respect and value.

[INTERVENTION] Agreed with Josh Simons, stating that proceeds from the Finance Bill will allow investment in future and recognition of heritage including compensation for mineworkers.

[INTERVENTION] Welcomed increase in carer’s allowance eligibility limit to £196 a week, enabling many carers to work longer and earn more.

[INTERVENTION] Emphasised recognition of NHS staff and teachers through pay rises. Criticised Conservative policies for causing NHS appointment cancellations, teaching day losses, and financial burdens.

[INTERVENTION] Discussed partygate scandal and criticised dodgy contracts awarded to mates and donors for bringing disrepute to the country.

Ramsay supports a wealth tax to reduce inequality, fund public services, and address climate change. He criticises the current tax system's favouring of income over wealth and proposes specific wealth tax rates for different asset levels.

Billington questions whether there is a successful model from another country that Ramsay's proposed wealth tax can emulate. This suggests Labour is sceptical about the feasibility of Ramsay’s proposal.

Simons challenges Ramsay on his opposition to building pylons, which he sees as a means to reduce inequality and poverty. This suggests Labour views infrastructure investment positively for socio-economic benefits.

Arthur questions Ramsay's consistency regarding inheritance tax thresholds, suggesting that the Green Party may be hesitant in implementing practical measures to address inequality and poverty.

Supports the Finance Bill, highlighting its role in boosting growth in dynamic industries such as creative sectors and financial services. He emphasises the need for economic and fiscal stability by addressing tax imbalances and protecting hard-working families from stealth tax increases. The Bill is also praised for maintaining the fuel duty freeze and cutting it temporarily to help residents and motorists in Harlow. Vince supports the removal of VAT exemption on private schools, arguing that this will generate additional revenue to invest in public services including schools suffering due to reinforced autoclaved aerated concrete issues.

Critiques the Government's Budget for undermining economic growth, increasing tax burden on working families and businesses. He highlights negative impacts on various sectors such as high streets, hospitality, education, energy firms, and family farms.

Intervenes briefly to acknowledge James Wild's speech with 'You’re special.'

Asked the Minister for a timeline on when businesses need to make decisions regarding the changes mentioned in her statement.

Urged the Minister to reconsider the family farm tax measure, arguing that it does not prevent equity companies from buying up land and treats family farms unfairly. She called for a genuine family farm test.

Asked to intervene, but no specific contribution mentioned in the provided text.

Questioned whether parents of children with special educational needs who send their kids to private schools without funding will be affected by the measure, seeking clarification on this issue.