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Autumn Statement – The Government is Cutting Taxes

I was pleased to attend the Chancellor’s Autumn Statement on Wednesday, in which he announced the biggest collection of tax cuts since the 1980s. The wellbeing of public finances affects everyone in Wycombe and across the UK, which is why three of the five promises made by the Prime Minister when he entered office were related to the economy —halving inflation, reducing government debt, and growing the economy. While, as a low-tax Conservative, I am always concerned with making sure […]

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Update From Westminster: The King’s Speech

On Tuesday, His Majesty The King delivered the first King’s Speech in over seventy years. The speech outlined this Conservative Government’s legislative agenda for this session of parliament. Instead of short-term politicking, Rishi Sunak’s Government has focused on taking long-term decisions to deliver a brighter future for Britain. From cutting inflation, to growing the economy, to keeping people safe and promoting our national interests, the Government is on course to deliver on its promises for people in Wycombe and across […]

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Defaulting on the Welfare State

It is vital that MPs consider the serious implications of our current public debt commitments and public debt projections. On current projections, the UK will default on its welfare state commitments, including those related to pensions. We must move our debt projections to a sustainable path. The reports that this briefing looks at highlight the need to take a long-term view of our public finances.

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Are We In The Largest Bubble in History? – An Austrian School Analysis by Steve Baker MP & Max Rangeley

It is often discussed how central banks saved the world economy following the 2008 Global Financial Crisis. In reality, monetary policy has created an even larger bubble than that which burst in 2008. But the trend has now been going on for a generation – from the 1980s onwards, every recession has been met by creating an even larger debt bubble. This has been done by cutting interest rates to “stimulate” the economy out of recession, but when they are […]

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Comprehensive Spending Review 2020

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Today, the Chancellor of the Exchequer announced his Comprehensive Spending Review. The review set out the Government departments’ resource budgets for the years 2021/22 to 2023/24. Here are some of the Chancellor’s main points: New funding that takes the budget for coronavirus vaccines over £6 billion, part of over £18 billion to fund preventative coronavirus measures An additional £254 million investment to help reduce rough sleeping and homelessness The new £2.9 billion restart scheme to help more than one million […]

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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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Central banks: the problem or the solution? The Jackson Hole Summit this weekend

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In my maiden speech in the Commons, I explained how central banks and easy money produce the economic dislocations which result in the business cycle. As the economics posts on this site attest, I have consistently defended the view that our economic difficulties are rooted in the chronically inflationary system of fiat money with which society has been saddled since the end of the Bretton Woods agreement in 1971. I’m glad employment, GDP growth and other indicators are positive but […]

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Co-operatives – good for Britain

Co-operatives give people control over the products and services that matter to them. From fan-owned football clubs to farmer-controlled producers, there are nearly 7,000 independent co-operatives across UK. Since the Rochdale Pioneers opened their Toad Lane store in 1844, the co-operative movement has grown to a network of over 3 million individual members in the UK. Cooperatives boost innovation, productivity and entrepreneurship and contribute £37 billion to the British economy. In Wycombe, Cressex Community School became the first state-maintained Trust schools […]

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Reducing the deficit – Conservatives: securing a better future

The next in a series of videos which set out how Conservatives are securing a better future for our country: Sajid Javid talks about reducing the deficit.

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Labour’s spending chaos

Via Share The Facts: Labour’s spending plans are in chaos – with Ed Miliband and Ed Balls spending the money from their proposed homes tax over and over again. Last week Balls said the tax will fund the NHS and nothing else: ‘All the money we raised from the mansion tax will go the National health Service’ (LBC, 21 Jan 2015). But now Miliband says the tax will pay for reducing the deficit: ‘A plan to pay down the deficit […]

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