Column: Andrew Jones MP - Putting us back on a sustainable financial trajectory.

From the banking crisis to COVID and then to war in Europe: it is diffcult to think of a comparable period when the pressure on Government to spend more has been greater.

The Labour Government spent to save the economy from collapse in 2008; the Liberal Democrat/Conservative coalition put the breaks on in 2010 to start paying down the deficit that created; supporting jobs and businesses costs billions during COVID.

So right now our national debt is around £2400bn.

This is a huge figure. Give or take, it is the same as our Gross Domestic Product - the total value of all of the goods made, and services provided in the UK in a year.

Spending happens because it is needed. The Labour government needed to keep the economy afloat in 08.

It was necessary to support businesses during COVID to prevent mass unemployment.

It is necessary now to provide cost of living support to the most vulnerable because of the increase in fuel and food prices caused by war in Ukraine.

But you only need watch the news to see the pressure to spend even more. If as a nation we want to do that then there are consequences.

Someone has to contribute more from their business or their earnings to pay for that spending; some area has to have less spent on it so that another can have more or as a country we have to earn more so that we have more to spend. Or a combination of these.

Later today the chancellor will be delivering his financial statement.

One shock after another has ratcheted up our national debt and the cash needed to service it.

This isn’t an inheritance we should leave for future generations so we need to deal with it.

The chancellor wants to begin that process now.

In today’s financial statement I want to see actions that protect the poorest and those people and businesses with the broadest shoulders pay a bit more.

On the spending side I want the triple lock on pensions kept and benefits uprated with inflation plus an energy support scheme that supports the poorest even if that means those of us that can afford to pay more do so.

On taxation there are a number of possibilities. Over the years I have met lots of people who enjoy government support but very few who enjoy paying tax.

Nonetheless I am expecting to see changes to business and personal taxation to pay for support for the poorest and for our nation to begin its journey to living within its means.

As we have seen with COVID and war, events can knock a nation off course.

But that does not mean we should delay taking the action needed to put us back on a sustainable financial trajectory.