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AUTUMN STATEMENT

23 November 2016

Lead MP

Philip Hammond

Debate Type

General Debate

Tags

EconomyTaxationHousingEmploymentBrexitScience & Technology
Other Contributors: 97

At a Glance

Philip Hammond raised concerns about autumn statement in the House of Commons. A government minister responded. Other MPs also contributed.

How the Debate Unfolded

MPs spoke in turn to share their views and ask questions. Here's what each person said:

Lead Contributor

Opened the debate
Reports on an economy predicted to be the fastest-growing major advanced economy in the world this year, with employment at a record high and unemployment at an 11-year low. Emphasises the need to tackle long-term weaknesses such as the productivity gap, housing challenge, and economic imbalance across the country. Outlines plans for fiscal discipline while recognising the need for investment to drive productivity, including £23 billion national productivity investment fund over five years.

Government Response

EconomyTaxationHousingEmploymentBrexitScience & Technology
Government Response
The Chancellor of the Exchequer outlined a comprehensive plan including investment in digital infrastructure, funding for regional development projects like the Oxford-Cambridge growth corridor, and allocation of £1.8 billion from the local growth fund to English regions. He also discussed measures to support business growth through export finance capacity expansion, management skills boost, venture capital injection, and patient capital review. The Chancellor stated that there would be a spring statement twice a year in response to forecasts from the Office for Budget Responsibility, but no major fiscal event. He highlighted the strength of the British economy and reaffirmed the government's commitment to living within its means while investing in the future. Responded to concerns about affordable housing, business investment uncertainty due to Brexit, smart ticketing in transport, immigration forecasts, fuel duty freezes, and worker exploitation. Responded to various questions about city deals, infrastructure investments, OBR forecasts, loan guarantees, NHS funding claims, and shipbuilding strategy. Emphasised commitment to processes involved and the need for engagements between parties.
Assessment & feedback
Summary accuracy

About House of Commons Debates

House of Commons debates take place in the main chamber of the House of Commons. These debates cover a wide range of topics including government policy, legislation, and current affairs. MPs from all parties can participate, question ministers, and hold the government accountable for its decisions.