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The Budget

It is a pleasure and privilege to take part in the debate, Mr Owen. I congratulate the hon. Member for Newport East not only on making a passionate case on behalf of her constituents, but on making the technical point about the carbon floor price. Representations have been made to me on the subject, as well. I understand the principle of putting a floor price for carbon, but the price itself must be looked at to ensure that heavy industry and high-energy users in this country remain competitive with production systems in other countries. I broadly welcome the Budget, particularly the intention to recast our taxation system, moving the burden from those on low incomes and paying for it by increasing taxation on those on high incomes. I particularly welcome the increase in the personal tax allowance, which has been trailed for many months. As a result, people on low incomes in my constituency will find themselves paying either no tax, having been taken out of the tax system, or a reduced amount of tax. I look forward 12 months to the further increase of £630 in the personal allowance, which, once again, will make a difference to those who are on low incomes.