Jacob Rees-Mogg ridicules Labour ‘always running out of money’ in tense funding clash

Jacob Rees-Mogg accuses Labour of poor money management

Speaking in the House of Commons, Ms Vaz used her allocated time to ask Jacob Rees-Mogg if he could confirm the dates of Opposition Days in light of the upcoming March Budget. The Labour MP was concerned some events may run over leading to schedule changes. As part of her question, the Labour frontbencher told the House that they should listen to Shadow Chancellor Anneliese Dodds’s lecture on “fiscal responsibility”.

Ms Vaz quizzed Mr Rees-Mogg about the budget saying the Shadow Chancellor was unable to speak to Chancellor Rishi Sunak about timing concerns. 

The MP for Walsall South then used the opportunity to say that Anneliese Dodds was one of the first women to deliver the Mais Lecture – a prestigious and long-running talk about finance and banking.

She continued by stating: “If people wanted to read about fiscal responsibility, that was it”

But the remark was not forgotten by the House Leader who took the opportunity to have a swipe at Labour.

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Jacob Rees-Mogg began to congratulate Joe Biden on his new Presidency before turning his attention to Ms Vaz. 

He said: “The Right Honourable Lady mentions the Labour Party and fiscal responsibility in the same sentence.

“I think this forgets the message left by former Chief Secretary of the Treasury (Labour MP Liam Byrne) about there being no money left.

“The last time the Labour party was in government they ran out of money and I think one should judge people by what they do rather by what they say.

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“And what the Labour party does whenever in office, is run out of money.”

Ms Vaz queried about Opposition Days which allows an opposing party to address issues in the Commons. 

The upcoming Budget is scheduled for March 3 and will be closely watched to see how Rishi Sunak plans to fix the economic fallout from the coronavirus. 

The Government may remove the temporary £20 a week extra for Universal Credit and many fear National Insurance and fuel duty will rise.

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However, the Stamp Duty holiday and furlough scheme may also be extended. 

Plans to raise corporation tax has been met with condemnation from politicians, economists and business owners alike. 

CBI Chief Economist Rain Newton-Smith warned: “I think our message to the Chancellor right now is not the time for cuts in government spending or to be increasing taxes significantly.

“We really need to get this recovery on a stable footing and then I think you can look at what are the sensible changes that could be made around taxation.”

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