Coming at a time when we are exiting the EU, this is a prudent Budget. Obviously, we would have liked to see more of our own special things in it, but that is the nature of a Budget. The problem for the Opposition is that, despite stresses in some areas, the British economy is performing pretty well on the whole, which is why the polls show that, even at this stage, the Conservative party is either level-pegging or ahead of the Opposition, which is a real problem for them.
Leaving the EU presents the United Kingdom with an opportunity to think about itself, to redefine itself and to decide where it wishes to go. It was US Secretary of State Dean Acheson who, in the aftermath of the second world war, famously said:
“Great Britain has lost an empire and not yet found a role.”
That was true. When we think about our withdrawal east of Suez and about throwing our lot in with the EU, an individual British role was in a sense submerged by those events, but it is now incumbent on us to talk Britain up and our constituents want us to do that. It may be a difficult challenge for some and, judging by some of the contributions from the Opposition tonight, that is not their inclination, but people want us to talk
Britain up and to think about how we can reinvigorate our advantages. With one of the best militaries in the world, we have hard power. We are committed to NATO, and we encourage others to spend the amount of money that we are spending. We are a permanent member of the UN Security Council. Those things give us real global influence, and we should be proud of them and guard them jealously.
Increasingly, our soft power cannot be divorced from hard power; we need to use them both at the same time. We have our values, our parliamentary system, the work of institutions such as the British Council, our culture and our royal family. I say that at a time when the world is yet again focused on us due to the engagement of Prince Harry and Meghan Markle.