John Redwood's Diary: Let's have a Brexit budget

Economic
Sunday, July 31, 2016
The Rt Hon. John Redwood MP

 

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Today I am reminding readers of the suggested Brexit budget I launched for Conservatives for Britain before the referendum vote. It will remind people that I was very clear the extra money we have to spend is the net figure, not the gross £350 m a week. It also reminds people that NHS and social care was at the heart of the programme, along with some VAT measures:

“The UK currently hands over £19 billion to the EU every year. We get £9 billion back in services and the rebate which means when we Vote Leave we will be able to guarantee all the funding to farmers, universities and regional grants that currently come from the EU and still have £10 billion more to spend on our priorities like the NHS.

The Conservatives for Britain spending suggestions for the first post-Brexit budget include:

£1.1 billion for disability benefits to avoid controversial cuts

£800 million to train an extra 60,000 nurses a year to deal with shortages and excess agency staff

£250 million a year to provide an additional 10,000 doctors a year to deal with doctor shortages and to staff the seven day NHS well

£750 million a year on social care to offering better support for people in their own homes, and for more care home and respite care places.

£200 million to cancel hospital car parking charges £400 million for dearer medical treatments not currently licensed by NICE, for example cancer treatments such as Proton Beam therapy and Meningitis vaccines

£1.9 billion to abolish VAT on domestic energy, energy saving materials, on converting existing dwellings and on carry cots, children’s car seats and safety seats

£1.5 billion to keep Council Tax down by offering councils the money to pay for a discount on bills they issue

£900 million to remove Stamp Duty on the £125,000 to £250,000 band of home purchase

£500 million should be allocated to a local road fund to support local schemes to improve junction safety and flows, and to provide additional capacity and bypasses on busy roads in congested areas”

These measures or something like them should be adopted soon. We could issue them before the cancellation of the contributions has been achieved, but it would be best to get on with that in a matter of months. The contributions should not be any part of any negotiation over trade issues.

John Redwood is Member of Parliament for Wokingham