Parliament was this week dominated by the Autumn Statement, which details the state of our nation's finances and how we can spend. Following tradition, many of the headline-grabbing announcements had been floated in the preceding days leaving the sober reality of our economic forecasts to dominate the chancellor's speech. I will confess to being taken aback by the massive borrowing estimates and lower growth figures.
The chancellor told the Commons that, as a consequence of the uncertainty in our new world order, Britain may need to borrow £233 billion over six years - some £130 billion more than forecast in March. Growth next year is predicted to dip from 2.1 to 1.4 per cent instead of the 2.2 per cent forecast eight months ago. As we all know, predictions do not always match up with reality (and these growth figures are still at levels which many of our European neighbours can only wish for). However, it shows that we could have a tough road ahead of us. For many, it has been tough for too long already.
My concern, as the government focuses its spending on where it will deliver a return on productivity, is that we need a large injection of investment in East Sussex if we are to be required to pay for our adult social care and other bills out of our business rate receipts. We need better rail, road and broadband infrastructure if we are going to attract business and support the new housing. I therefore asked the chancellor in the House of Commons for that commitments and, being less than satisfied with the response, following this up in a private meeting with the chancellor and party colleagues. Still not feeling that my point was taken, I had a one-to-one to press my point home (this all occurring within four hours of the chancellor having finished delivering his statement).
I am confident that the chancellor fully appreciates our local challenges and I was reassured that he expects that government will continue to fund the gap in what we raised and what we spend locally. However, I want to look forward to a day when East Sussex has infrastructure so we can balance our own local budget rather than going cap in hand to the Exchequer. The heightened concern as to our finances and prioritising local investment for returns on productivity, means that we will all need to pull together if we can bring our share to East Sussex.
Over the last couple of weeks, I have had a variety of meetings with parish, town, district and county representatives. All of us are working as one. In this uncertain financial climate, this is more essential than ever