What a marvellous time of year it is when I see the Christmas tree in New Palace Yard, and the trilling sounds of the parliamentary and Salvation Army choirs to boot. On a slightly more sober note, you will recall, Mr Speaker, that the story of this Government so far has been one of early scandal, a first reset and a delayed Budget, and now what we can expect to be a delayed spending review. We must hope that at some point the Government will get round to actually making policy.
I am afraid that this week has brought further confirmation of the disastrous effects of the November Budget. As Members will recall, the Institute for Fiscal Studies predicted at the time that the rise in national insurance would hit lower-wage and more labour-intensive parts of the economy hardest, and predicted that the Chancellor may need to raise taxes again soon. The Chancellor’s reaction, as she told the CBI, was:
“I’m really clear, I’m not coming back with more borrowing or more taxes.”
We will see how long that promise lasts. Only this week, the Financial Times reported that hiring has fallen more sharply in the UK than in other major economies over the past year, including the US, France, Germany, Canada and Australia.
Luckily, however, we now have the Government’s new plan for change. I think the whole House should welcome the fact that the Government now have a plan, only 14 years and seven months after they first started in opposition, and that their plan is to change direction. I would describe the plan for change as a fine, fat Herefordshire beef cow that has been inadequately fed with the Reform party’s favourite anti-methane feed supplement, Bovaer: it is a beast full of nutrition, but with a certain amount of unnecessary flatulence. A lot of media commentators have had fun with the Government’s blizzard of to-do lists, including their six first steps, six milestones, five national missions and three foundations, but I am afraid that they have missed the Christmas spirit of the thing—all we need now are policy announcements on turtle doves and partridges in pear trees to complete their new initiatives advent calendar.