Speeches by Murphy.

“I am sure that Austen would agree and, as we do not have a sea coast in Steventon, that she may have admired the hon. Gentleman’s area more than most. Local children in Steventon still climb the old lime tree where Jane and her brother once played more than two centuries ago—a living reminder of the world that helped t…”

“The OBR told the Treasury Committee, on which I sit, that the narrative that the Chancellor set out on 4 November was consistent with the forecast at that time. When the OBR made that point, was it right or wrong? Are you questioning what the OBR said?”

“Chancellor, can you set out how the capital allowance changes in the Budget will increase investment and growth, given that tax specialists like Dan Neidle have said that they believe the changes will do the opposite?”

“The first-year discount does not apply to second-hand assets, but only to leasing, so—”

“Chancellor, you have pointed to the productivity downgrade as a result of the record of the previous Government. Would you have made different choices in this Budget if not for that downgrade? If so, which ones?”

“Chancellor, for the vast majority of my constituents, the top priority is the cost of living. Both you and the Prime Minister have made it clear that it is a top priority for the Government as well. Evidence to the Committee from both the OBR and the Resolution Foundation shows that there has been relatively strong gro…”

“Do you anticipate having to come back, in future Budgets, to take similar measures on the cost of living? Is that something that you would expect, given the outlook for living standards that the OBR and you just now have recognised?”

“Will the right hon. Member give way?”

“Will the hon. Gentleman give way?”

“Since the pandemic, Governments have been trying to solve a unique participation crisis, so-called, in the UK, but your latest report suggests that it has now returned to the pre-pandemic trend. We know that ONS data in this area is not particularly reliable, so is the crisis over or was it never really there?”

“I will ask questions about the labour market. Employment and unemployment are faring worse than the central projection in the MPR. Ms Lombardelli, are you concerned about the downside risks for both activity and employment?”

“Are the underlying things that you are pointing to, and that we discussed a moment ago, unique to the UK?”

“Have you any observations or analysis on the movements in the gilt market since the Budget and how it has landed?”

“Is there any particular policy to which you would attribute that slowdown?”

“You mentioned the pandemic and young people. Has the Bank made an assessment of what the drivers of that economic activity are?”

“Ms Curtice, was the abolition of the two-child limit the most effective way to reduce child poverty, both in terms of impact and value for money?”

“What do you make of the measures in the Budget on the cost of living and living standards overall? Is there anything you would particularly highlight? Could you break it down a bit in terms of the next year, the next couple of years and then maybe the rest of the Parliament?”

“Ms Miller, I do not know whether there is anything you want to add on the wider living standards point.”

“We had a discussion yesterday with Professor Miles from the OBR about the measure of living standards. The OBR uses real household disposable income. A key measure for the Government that they set out, in terms of their success over the course of this Parliament, is where living standards are at the end compared to the…”

“Was there a set of alternative measures that, given the package, so the key tax raises and measures on living standards, you would have liked to see and that you think would have delivered a better pathway on living standards within the envelope?”