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Speech in the debate on the Budget Resolutions


On 22 March, I took the opportunity to speak in the debate on the Budget Resolutions. The Hansard record is below (emphasis mine): Mr Steve Baker (Wycombe) (Con): I rise to support the Budget and, in particular, to welcome the Government’s supply-side reforms. This has been a dramatic Budget, and I would be failing the Government if I did not concentrate on the areas of drama. First, on the disability reforms, the challenge before the Government is clear: to deliver a policy […]

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Delivering economic growth and sound finances


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Via HM Treasury on Flickr:

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A Budget for business


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Via HM Treasury on Flickr:

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A Budget for savers


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Via HM Treasury on Flickr:

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A Budget for hardworking people


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Via HM Treasury on Flickr:

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Budget 2014 passes the business test, says BCC


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Via email, Giving his reaction to the Budget 2014, John Longworth Director General of the British Chambers of Commerce (BCC) said: “Business wanted a Budget that was disciplined, focused, and geared towards the creation of wealth and jobs – and that’s what the Chancellor has delivered. “With a huge confidence gap still separating employers from young job-seekers, we are very pleased to see the Chancellor heed our call to help firms take on and train tomorrow’s workforce. Overcoming that confidence […]

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A summary of the Autumn Statement


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The Conservative Party’s summary of the Autumn Statement is as follows. Backing business all the way: Local businesses will benefit from a cap on business rate rises and an extension of rate relief. The increase in business rates next year will be capped at 2 per cent – businesses were expecting a rise of 3.2 per cent. We are also extending and expanding the doubling of small business rate relief, making more businesses eligible for it and keeping it up […]

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For City AM: It’s time to end the cruel delusion of cheap money and reckless spending


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City A.M. asked me to comment in advance of the Autumn statement. I wrote: GEORGE Osborne will present his Autumn Statement to a country in the grip of a cruel economic delusion, perpetrated against the poor and the aspirational. Welfare states everywhere are spending chronically beyond their means while papering over the cracks with easy money. Budget 2013 forecast spending in excess of receipts of about £9bn a month. Defence, criminal justice, local government and the Foreign Office have been […]

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Monetary activism must end in a slump


On Friday, I spoke against monetary activism once again, complaining about the use of expectation management and new monetary instruments in an attempt to defibrillate the economy. It’s a mistake, not least because a failure to contain inflationary expectations could be catastrophic, as I set out last year. Mark Carney understands the argument that monetary activism will cause a damaging “intertemporal misallocation of capital” but he chooses to believe wise intervention elsewhere can compensate. I am sure this is wrong. […]

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Budget 2013: The Headlines


The following was provided by the Conservative Party in summary of the Budget 2013. In a tough economic situation, the British people know there are no easy answers or short cuts. But we are succeeding, slowly but surely, in fixing those problems. We’ve now cut Labour’s record deficit by not just by a quarter – but by a third. We’ve helped create 1.25 million new private sector jobs. Interest rates remain at record lows. Income tax The amount people can […]

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