Jeremy Corbyn in the Commons speaks on the Budget: “Invest in our Future”

Corbyn on the Budget – the answer is an economy based on investment and skills, not the short-term, asset stripping approach of this Government:

“This government has no strategy to move beyond the low-pay, low-skill, low-productivity economy. It has been content to leave people’s potential untapped, talents wasted. It is content with an economy that works for the few not the many.

To compensate for this strategic failure George Osborne offers corporation tax cuts. It is his only lever – but what use is it when the UK already has the lowest corporation tax rate in the G7? Our economy needs better infrastructure – for people and for businesses – and only a strategic state can deliver it.

Tax cuts don’t make businesses grow, nor do they help fund the modern infrastructure we need.

Large parts of our country have been neglected for more decades, with no real industrial strategy. Our national infrastructure – energy, housing, transport, digital – is outdated, leaving the UK lagging behind other developed economies. We won’t meet our environmental targets without these investments.”