Finance Bill

I would like to take this opportunity to talk about how the Finance Bill will help to tackle child poverty and help working families in my constituency and many others like it. I have been proud of my Government’s efforts in this area, and of the Chancellor’s role in supporting and sharing the prosperity of this nation with those who too often have been left behind. When I meet people in my constituency—a typical Welsh working-class community—I often hear about how well they are doing. They know that a strong Labour Government helped to deliver the services that they need and the opportunities for them to prosper and grow. The right hon. Member for Wokingham (Mr. Redwood) urged us to look forward, not back. But what I hear when I am out and about in my constituency is, ““We can’t go back. Look at all the things that have improved for us. Look at all the ways in which our lives are getting better. We’re afraid that if we go back to what was there before, we’ll suffer.? I have often heard the simile that life is like trying to drive a car without a rear-view mirror—one does not need a rear-view mirror, but it is very useful. We need to look forward, but every so often we need to have that reassuring glance towards the past. People understand full well that only a Labour Government can deliver on their behalf and ensure that their future prosperity is taken care of. I am thinking of the difference between now and the time when I worked with families who needed the support of a charity such as Save the Children. I had to go out into communities across Wales. I worked in fundraising and supported hard-pressed families who had lost hope. They had lost the chances that life had given them. Perhaps they had not had the opportunities that others had had. I know that I do not want to go back to that. The security of good employment, low mortgage rates and sustained economic growth is allowing people to prosper and to plan for the future. They tell me what a difference child tax credit, working tax credit and pension credit are making to their lives and how confident they are for the future. Yes, we have had teething problems and complaints, but every time when people think about being without those tax credits, they are afraid. In the past there were fears, doubts and worries about jobs, mortgages and savings. I do not see that any longer. I see confidence, hope and proposals for the future. In the wake of the Budget, a number of constituents have taken the time to thank me not only for what the Government are doing, but for what the Chancellor has done. They recognise that the Chancellor has invested in families and communities. Under the stewardship of the most successful Chancellor of the Exchequer this country has ever seen, they have seen those differences. The Finance Bill will play a key role in ensuring the continued prosperity of this country and will help even more working families and children to achieve the best standards of living possible. In Swansea, East, the figures speak for themselves. It was an area of high unemployment and it suffered huge changes after the loss of the heavy industries. We now have 2.9 per cent. unemployment. If somebody had told us 10 or 15 years ago that we would achieve those low levels, we would all have said, ““You’re dreaming.? But we are there, and we have achieved that dream. The employers in my community and my constituency are different employers. The workplaces are different. I visited Admiral insurance, which is a major employer in my constituency. It operates four of its services—its various companies—out of the SA1 development in my constituency. That is a prestigious development that has happened under this Government and with the foresight of the last Labour administration in Swansea. When I visited, I saw hope. The people there were not talking about how things were not getting better. They were telling me about how their families were prospering. Young people have been helped by the new deal, which was opposed by the Opposition. Nearly 3,000 young men and women have joined the new deal and benefited from the guidance and advice on offer. The Bill will provide further support to families. Such investment is crucial. The child element of the tax credit, which will be increased by £150, will help even more children. Already that has made a difference to more than 10,000 children in my constituency. There are challenges, but the benefits are visible to everyone.