← LEADERSHIP TERMINAL

UK PARLIAMENT · SITTING

Laura Trott

MP for Sevenoaks · Conservative · United Kingdom

IN THEIR OWN WORDS

Well, that is a load of rubbish. The Secretary of State says that she is proud of the action that the Government are taking on pay. May I suggest that one of the reasons teachers are angry is that they still do not know their pay?

TOPICAL QUESTIONS · 2026-06-22 · READ IN HANSARD

The resignation of the Prime Minister this morning was a damning indictment of the record of this Government over the last two years. Part of the Prime Minister’s legacy will be teacher morale at an all-time low.

TOPICAL QUESTIONS · 2026-06-22 · READ IN HANSARD

We have moved so far, and things have only changed because of the unity of those on the Opposition Benches, because of Lord Nash’s brilliant campaign and because of the coalition behind Raise the Age.

CHILDREN’S WELLBEING AND SCHOOLS BILL · 2026-04-27 · READ IN HANSARD

On Friday, after Labour MPs had repeatedly blocked a social media ban for under-16s, we had a new proposal from the Government. It was not a serious response to the issue we are facing. It gave the Government three years to take unspecified action on social media, which was nowhere near good enough. Today, that has changed.

CHILDREN’S WELLBEING AND SCHOOLS BILL · 2026-04-27 · READ IN HANSARD

My right hon. Friend is always correct to be worried, but he will know that in Lord Nash’s amendment a 12-month delay was written in. I think it is reasonable to give the Government some time to bring the measure forward.

CHILDREN’S WELLBEING AND SCHOOLS BILL · 2026-04-27 · READ IN HANSARD

I welcome the Government’s constructive engagement on this issue, and we see a new proposal today that has a much more acceptable timeframe, albeit not as short as I would like. Every month of delay just leaves children more exposed to the harms of social media online.

CHILDREN’S WELLBEING AND SCHOOLS BILL · 2026-04-27 · READ IN HANSARD

The complete record

Every one of 603 lines we hold for Laura Trott, in date order, each linked to its source. Free to read, in full, without an account. Page 7 of 13.

  1. Council tax is a matter for councils, but we put in place a limit, which I do not believe existed under the previous Labour Government. More than that, the most difficult thing for councils and consumers more broadly is the £28 billion-worth of tax rises that Labour is planning in government.

    COST OF LIVING · 2024-02-06 · READ IN HANSARD

  2. This is an appalling tragedy, and my thoughts remain with all those affected. We understand the strength of feeling, and the need for action. The Government have accepted the moral case for compensation, and have acknowledged that justice needs to be delivered for victims. As such, the Government intend to respond in full to Sir Brian Langstaff’s recommendations for wider compensation following the publication of the inquiry’s final report in May this year.

    INFECTED BLOOD COMPENSATION: FUNDING · 2024-02-06 · READ IN HANSARD

  3. I know that the hon. Gentleman has a lifelong friend who has suffered from this terrible tragedy, and I can reassure him that we are determined to do right by the victims and those who have tragically lost their loved ones. The victims of the infected blood scandal deserve justice and recognition. On his question on timing, Governments of all colours have failed to sort this out, but I am pleased that the interim payments at least have been paid. As I have said, the Government are committed to the moral case for compensation and we are expecting the final report very soon. We will move as quickly as possible afterwards.

    INFECTED BLOOD COMPENSATION: FUNDING · 2024-02-06 · READ IN HANSARD

  4. I can confirm that we are working with the Cabinet Office and the Department of Health and Social Care to ensure that we can respond as quickly as possible once the inquiry reports.

    INFECTED BLOOD COMPENSATION: FUNDING · 2024-02-06 · READ IN HANSARD

  5. The Government are committed to ending low pay. From 1 April 2024, the national living wage will increase by 9.8%, to £11.44. That represents an increase of more than £1,800 to the annual earnings of a full-time national living wage worker and it is expected to benefit about 2.7 million workers.

    NATIONAL LIVING WAGE · 2024-02-06 · READ IN HANSARD

  6. I thank my hon. Friend for his question, and I will take the two parts of it in turn. The Government continue to support businesses with the higher costs through a generous package of support. At the autumn statement, we showed our commitment to supporting small businesses by extending the 75% retail, hospitality and leisure relief, and by freezing the small business multiplier, which will protect more than 1 million properties from the multiplier increase. Yesterday, we announced a wide-ranging package of support worth £600 million for local councils, including £500 million of new funding for social care.

    NATIONAL LIVING WAGE · 2024-02-06 · READ IN HANSARD

  7. I can commit to the hon. Gentleman that we are absolutely monitoring the effects, but, as I said, a good package of support is in place for businesses.

    NATIONAL LIVING WAGE · 2024-02-06 · READ IN HANSARD

  8. The university sector is one of the jewels of this country and I am proud that we have four of the world’s top 20 universities. I am happy to look at any individual proposals from the hon. Gentleman.

    TOPICAL QUESTIONS · 2024-02-06 · READ IN HANSARD

  9. A very merry Christmas, Mr Speaker. The Government guarantee to maintain the £2.4 billion annual budget for farmers across the UK for every year of this Parliament. As agriculture is devolved, it is ultimately for the Scottish Government to decide how to allocate that money to farming in Scotland.

    FARM BUDGETS 2024-25: SCOTLAND · 2023-12-19 · READ IN HANSARD

  10. The right hon. Member raises an excellent question. The SNP Government are yet to clarify when this ringfenced money will be returned. I hope they will do so this afternoon at the Budget.

    FARM BUDGETS 2024-25: SCOTLAND · 2023-12-19 · READ IN HANSARD

  11. I note that the hon. Member did not answer my question, nor that of the right hon. Member for Orkney and Shetland (Mr Carmichael) about when the ringfenced money will be returned.

    FARM BUDGETS 2024-25: SCOTLAND · 2023-12-19 · READ IN HANSARD

  12. Very good point, but I still maintain that the hon. Member needs to clarify that matter. It is up to the Scottish Government if they would like at any point to top up the amount that goes to Scottish farming. I encourage them to do so this afternoon at the Budget.

    FARM BUDGETS 2024-25: SCOTLAND · 2023-12-19 · READ IN HANSARD

  13. The UK Government have laid out plans for the agriculture transition in England that go beyond the current spending review, giving farmers increased certainty over policy and spending intent for years to come. The Scottish Government could decide to provide farmers in Scotland with similar certainty if they chose to do so.

    FARM BUDGETS 2024-25: SCOTLAND · 2023-12-19 · READ IN HANSARD

  14. The OBR revised up its growth figures after data revisions by the Office for National Statistics indicated the economy had recovered more fully from the pandemic than had been expected, which means that the current level of real GDP is nearly 3% higher than was predicted in March forecasts.

    LIVING STANDARDS: OBR GROWTH FORECASTS · 2023-12-19 · READ IN HANSARD

  15. As the hon. Lady will know, we put billions of pounds into councils this year, and the provisional settlement is above what is expected to be the inflation rate next year. If she has specific issues with her local council, I shall be happy to take that up with her.

    LIVING STANDARDS: OBR GROWTH FORECASTS · 2023-12-19 · READ IN HANSARD

  16. I want to reassure the hon. Gentleman: no decision has been made about the household support fund. More broadly, however, we have pulled in an average of £3,700 per household this year to help people with exactly what we are talking about. This Government are on the side of people during what is a very difficult time.

    LIVING STANDARDS: OBR GROWTH FORECASTS · 2023-12-19 · READ IN HANSARD

  17. If the hon. Gentleman can give individual examples, I ask him please to let us know. It is, obviously, extremely important that we enforce this, but I should point out that we will increase the levels by 9.8% next year, which will make a significant difference to households up and down the country.

    LIVING STANDARDS: OBR GROWTH FORECASTS · 2023-12-19 · READ IN HANSARD

  18. All I can say is that they have definitely gone in the right direction, because the economy next year will be billions of pounds bigger than we thought it was going to be in March.

    LIVING STANDARDS: OBR GROWTH FORECASTS · 2023-12-19 · READ IN HANSARD

  19. Value for money is at the heart of Government spending and it is one of the key considerations for any decision involving the use of public funds across Government. As Chief Secretary, I am committed to tackling waste and promoting productivity across the public sector.

    PUBLIC SPENDING: VALUE FOR MONEY · 2023-12-19 · READ IN HANSARD

  20. During the pandemic our priority was absolutely clear: to get PPE to the frontline as quickly as possible. There was an unprecedented global increase in demand for PPE during the emergency response to the pandemic and items were procured at pace. The Department of Health and Social Care continues to seek to recover fraud losses to ensure that public funds are protected.

    PUBLIC SPENDING: VALUE FOR MONEY · 2023-12-19 · READ IN HANSARD

  21. The hypocrisy is absolutely astonishing. During the pandemic the shadow Chancellor wrote that the strategy of turning to big-name UK manufacturers was not delivering the supply that was needed. Yes, we procured things very fast—we needed to do that to get things to the frontline—and we are trying to get back every single penny that was lost to fraud, but we make no apology for doing whatever we could to get PPE to the frontline as quickly as possible.

    PUBLIC SPENDING: VALUE FOR MONEY · 2023-12-19 · READ IN HANSARD

  22. I do not know what more I can add to my last answer. This was done very quickly, at pace, because we were desperate to get PPE to the frontline as quickly as possible. We have set up initiatives to recoup money from fraudulent activity including the Public Sector Fraud Authority, which has already saved taxpayers £311 million in the first year of operation.

    PUBLIC SPENDING: VALUE FOR MONEY · 2023-12-19 · READ IN HANSARD

  23. Inflation has now halved from 11.1% in October 2022 to 4.7% in October 2023, delivering on the Prime Minister’s pledge. This has happened not by accident but as a result of difficult decisions made by the Government and the Bank of England—Government decisions that were opposed every step of the way by the Labour party.

    INFLATION · 2023-12-19 · READ IN HANSARD

  24. My right hon. Friend is right, and she nailed the delivery of her question while out of breath. At the autumn statement, the Chancellor announced measures that demonstrate the Government’s ongoing commitment to renewable energy as a priority growth sector essential to our energy security and net zero ambitions. The announcements made include a new investment exemption from the electricity generator levy and a £960 million green industries growth accelerator.

    INFLATION · 2023-12-19 · READ IN HANSARD

  25. I know that the hon. Lady will have welcomed the most important change to cost of living pressures, which is inflation coming down. In addition, we have had the cost of living payments this year, and also benefits going up by 10.1% this year and by more than the expected level of inflation next year. We as a Government have done all we can to support people and will continue to do so.

    TOPICAL QUESTIONS · 2023-12-19 · READ IN HANSARD

  26. The hon. Lady will have heard my answer to a previous question where I stated that we have put billions of pounds of extra money into local government this year to cover pressures. We recognise that those pressures are real, which is why the provisional settlement proposes an above-inflation rise for next year.

    TOPICAL QUESTIONS · 2023-12-19 · READ IN HANSARD

  27. I beg to move, That the Bill be now read a Second time. This is a landmark moment: the economy has turned a corner. Having rightly supported people through covid with £400 billion of spend and then £100 billion over the winter to support people with energy costs, we on the Government side of the House know that we have to pay back what we have borrowed. The Labour party opposed every single measure to do that, and every difficult decision, but because of those difficult decisions, we are in the position we are in today. Because of those difficult decisions, the Chancellor can put forward an autumn statement that focuses on growing our economy, supporting businesses and, crucially, cutting taxes, and that is what we are here to talk about today.

    NATIONAL INSURANCE CONTRIBUTIONS (REDUCTION IN RATES) BILL · 2023-11-30 · READ IN HANSARD

  28. The first is the reduction in the employee class 1 NICs main rate, which the Chancellor announced in the autumn statement. By reducing the main rate by two percentage points, from 12% to 10%, on earnings between £12,570 and £50,270, we will cut taxes for more than 27 million employees. That will save the average worker more than £450 a year, and they will see the benefit in their payslips right at the start of the new year, as this legislation will come into effect on 6 January.

    NATIONAL INSURANCE CONTRIBUTIONS (REDUCTION IN RATES) BILL · 2023-11-30 · READ IN HANSARD

  29. I think by my count none, which is unfortunate and I think speaks to their lack of the commitment to cutting tax that we have on this side of the House. The Bill will cut taxes for 29 million working people. It has three measures: the reduction in national insurance contributions in class 1 primary main rate; the reduction of the NICs class 4 main rate; and the removal of the requirement to pay class 2 NICs. We are prioritising national insurance for two key reasons. First, we want to put more money in the pockets of working families, and NICs are the most targeted way to do that. Secondly, better reward for work makes working more appealing, and the more people work, the more there is a boost in growth. Let me take the House briefly through the measures in the Bill.

    NATIONAL INSURANCE CONTRIBUTIONS (REDUCTION IN RATES) BILL · 2023-11-30 · READ IN HANSARD

  30. I hope that the shadow Financial Secretary to the Treasury, the hon. Member for Ealing North (James Murray), can inform us honestly and straightforwardly on which side of those choices his party will land. If he cannot, we can all conclude, as Lord Mandelson himself said only a few months back, that Labour is not ready to be the party of government. I commend the Bill to the House.

    NATIONAL INSURANCE CONTRIBUTIONS (REDUCTION IN RATES) BILL · 2023-11-30 · READ IN HANSARD

  31. The Opposition have to choose. Do they stick to their plan to borrow an extra £28 billion a year, which the Institute for Fiscal Studies says risks sending inflation, interest rates and mortgage rates up, or do they choose our plan to bring inflation down, taxes down and debt down? They cannot have it both ways. If the shadow Treasury team has no answer today, it will fall to the Leader of the Opposition to grasp the issue. Rather than anonymous briefings to the BBC over the weekend, he will have to make a choice. That is the difference between being the party of opposition and being the party of government: credibility with the public over credibility with their activists. This Bill represents the choices made on this side of the House. I have spoken at length about why we have made them.

    NATIONAL INSURANCE CONTRIBUTIONS (REDUCTION IN RATES) BILL · 2023-11-30 · READ IN HANSARD

  32. At the autumn statement last week, the OBR confirmed that public sector net debt is set to fall in that final year, with headroom of £30 billion. Implementing the permanent tax relief for business investment, plus the legislation before the House today, represents a choice to use around £20 billion of that £30 billion of headroom on these measures. There is a path here, if the Opposition want it, to deliver the £28 billion a year. They could use up every penny of headroom, reject full expensing and reject today’s tax cuts, but what they cannot do—what the OBR, the financial markets and every secondary school maths textbook will not let them do—is vote for our policies today, borrow an extra £28 billion a year and still meet their own fiscal rules. The numbers simply do not add up. That is what I mean by choices.

    NATIONAL INSURANCE CONTRIBUTIONS (REDUCTION IN RATES) BILL · 2023-11-30 · READ IN HANSARD

  33. These reductions in tax will not only benefit those in work; according to the Office for Budget Responsibility, they will lead to the equivalent of almost 100,000 people entering work, because they will ensure that work pays and will drive more people to seek employment. There is another point here, and that is about choices. I hope that the Opposition will support these measures today, if only for the reasons I have already set out. The public support them and business supports them. If the Opposition do not support them, it will represent a choice. The shadow Chancellor, the right hon. Member for Leeds West (Rachel Reeves), has often spoken of her fiscal rules that will have debt falling in the final year of the next Parliament.

    NATIONAL INSURANCE CONTRIBUTIONS (REDUCTION IN RATES) BILL · 2023-11-30 · READ IN HANSARD

  34. That will benefit around 2 million people. Importantly, those with profits under the small profits threshold of £6,725 and who pay class 2 NICs voluntarily to get access to contributory benefits, including the state pension, will continue to be able to do so. The Government are committed to tax cuts that reward and incentivise work, and that grow the economy in a sustainable way. These measures do just that. The Office for Budget Responsibility states that the autumn statement package will reduce inflation next year, and measures in the Bill will be worth more than £9 billion a year, the largest ever cut to employee and self-employed national insurance. A vote for these measures is a vote to give 29 million people an average yearly saving of more than £450.

    NATIONAL INSURANCE CONTRIBUTIONS (REDUCTION IN RATES) BILL · 2023-11-30 · READ IN HANSARD

  35. Finally, we will remove the requirement for self-employed people with annual profits above the national income tax personal allowance of £12,570 to pay class 2 NICs, also from April 2024. Those who pay voluntarily will still be able to do so, and I assure hon. Members that low-paid self-employed people who make voluntary class 2 contributions will not pay more. The Bill simplifies the system for self-employed taxpayers, bringing it closer to the system for employees, and not only putting more money in their pockets but reducing the administrative burden. As a result of changes in the Bill, a self-employed person who is currently required to pay class 2 NICs every week will save at least £192 per year. Taken together with the cut to class 4 NICs, an average self-employed person on £28,200 will see a total saving of £350 in 2024-25.

    NATIONAL INSURANCE CONTRIBUTIONS (REDUCTION IN RATES) BILL · 2023-11-30 · READ IN HANSARD

  36. I thank the hon. Gentleman for the opportunity to talk about this, because it is important. Taxes for the average worker will have gone down by £1,000 since 2010. We have not hidden from the fact that we had to make some very difficult decisions to pay back our covid debts, and those have fallen on the highest paid, because that is the value that we espouse as a party. Because of those difficult decisions, which were opposed every step of the way by the Opposition, we are able to cut taxes for everybody—that is what the values of Conservative Members are all about. We will cut and reform national insurance contributions for the self-employed by cutting the class 4 rate by one percentage point from 9% to 8% from April 2024.

    NATIONAL INSURANCE CONTRIBUTIONS (REDUCTION IN RATES) BILL · 2023-11-30 · READ IN HANSARD

  37. Today, we set out a plan for the economy that will grow our potential, reduce debt and reduce taxes, yet all Labour wants to do is reverse this progress by borrowing £28 billion. It is the same old Labour party. Let me begin with what we have achieved.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  38. And it is declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968. As a country, we are in a very different position from the one we were in a year ago. Back then, the Office for Budget Responsibility and the Bank of England were predicting a recession, but we have had growth. Debt was predicted to rise to almost 100% of GDP by the end of the forecast, but headline debt is now predicted to be more than 5% lower. Rather than falling, average real incomes have risen. None of that happened by accident. It happened because of the difficult decisions we have made, which have turned the economy around. We have learned the lessons of what happened a year ago, but the Opposition have not.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  39. (2) In consequence of the provision made by paragraph (1), in Schedule 2 to the Travellers’ Allowances Order 1994 (which provides in certain circumstances for a simplified calculation of excise duty on goods brought into Great Britain)— (a) in the entry relating to cigarettes, for “£393.45” substitute “£422.80”, (b) in the entry relating to hand rolling tobacco, for “£351.03” substitute “£412.32”, (c) in the entry relating to other smoking tobacco and chewing tobacco, for “£161.62” substitute “£173.68”, (d) in the entry relating to cigars, for “£367.61” substitute “£395.03”, (e) in the entry relating to cigarillos, for “£367.61” substitute “£395.03”, and (f) in the entry relating to tobacco for heating, for “£90.88” substitute “£97.66”. (3) The amendments made by this Resolution come into force at 6pm on 22 November 2023.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  40. I beg to move, That— (1) In Schedule 1 to the Tobacco Products Duty Act 1979 (table of rates of tobacco products duty), for the Table substitute— “TABLE 1 Cigarettes An amount equal to the higher of— 16.5% of the retail price plus £316.70 per thousand cigarettes, or £422.80 per thousand cigarettes. 2 Cigars £395.03 per kilogram 3 Hand-rolling tobacco £412.32 per kilogram 4 Other smoking tobacco and chewing tobacco £173.68 per kilogram 5 Tobacco for heating £325.53 per kilogram”.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  41. Let me make some progress. It has been a difficult few years for all families, up and down this country. We have had to tackle a once in a lifetime global pandemic and another period of global turmoil, caused by Putin’s invasion of Ukraine and the pressure that put on energy prices, driving inflation around the world. When the Prime Minister took office, inflation was at 11.1%, but because of the difficult decisions taken by the Prime Minister, the Chancellor and the Bank of England, inflation is now down to 4.6%—a promise delivered. The OBR says that headline inflation will fall to 2.8% by the end of 2024 and we will therefore reach our 2% target by the middle of 2025, something I am sure that the hon. Member for Wallasey (Dame Angela Eagle) is about to welcome.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  42. As we debate these measures in the next few days, I leave Members with a few reflections. We have halved inflation and we have avoided recession, but growth is not achieved by burning our businesses or our people, as the Labour party would have us believe. Instead, in this autumn statement we have—and let me repeat this—delivered the biggest ever cut to employee and self-employed tax; the biggest tax cut since 1988.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  43. As we want people to see that benefit on their payslip soon, we will immediately introduce legislation to bring in this new rate from 6 January. This is the biggest cut to employee and self-employed tax ever, and the biggest tax cut implemented since 1988. These measures, however, are not by chance. This is what happens when we take tough decisions early, when we take responsibility for those decisions and when we deliver on them in good time and on budget, as the Prime Minister said we would. Things have been really tough, but the economy is on the right track and the future is growing brighter. We have made: tax cuts for big businesses to drive investment; tax cuts for smaller businesses to drive growth; tax cuts for self-employed people to reward hard work; and tax cuts for 27 million working people who make our country what it is.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  44. We are reforming our welfare system, so that it supports those who cannot work and helps those who can find work. The list does not end there. With this hard-earned fiscal headroom now secured, we have a final measure: to implement a tax cut for 27 million employed people, worth an average of £450 per year; and to simplify and cut taxes for nearly 2 million self-employed people, while protecting the interests of those on the lowest pay by saving self-employed people an average of £350 a year from April. We have always said that, when it is responsible to do so, we will cut taxes, and, because we keep our word, we are cutting the main rate of employee national insurance from 12% to 10%. That makes somebody on the average salary of £35,000 more than £450 better off, which is something that hon. Members will welcome.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  45. This will make a huge difference to investment, as more than 200 business leaders and industry bodies across the country have pointed out. We can do this only because—in case anybody is in any doubt—this Conservative Government have more than halved inflation, have met our borrowing rules three years early and are seeing our debt lower every single year. Meanwhile, our small and medium-sized businesses, which account for more than 99% of private business in the country, remain the backbone of the economy. Our business rates support saves the average independent shop more than £20,000. We continue to back those businesses by extending the 75% business rates discount for retail, hospitality and leisure businesses for another year, and by tackling late payments.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  46. Our solution is not simply to borrow more, as the Labour party would, but to back British business and invest in areas that will create growth, driven by our values: living within our means, protecting the poorest and rewarding work. We are attracting an extra £20 billion a year from business investment, reducing taxes on working people and increasing the national living wage to give workers £1,800 year on average, and we are freezing alcohol duties until August next year. Our announcement to make full expensing permanent means that we now have not just the lowest headline corporation tax rate in the G7, but the most generous capital allowances, too. For every £1 million that a company invests, it will get £250,000 off its tax bill at the end of the year.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  47. Before he took the difficult decisions in last year’s autumn statement, headline debt was predicted to rise to 99.6% of GDP by the end of the forecast. Labour’s approach would see that number rising but, in contrast, our approach has seen debt predicted to be 5.5 percentage points lower as a proportion of GDP by the end of the forecast. We will therefore meet our fiscal rule to have underlying debt falling as a percentage of GDP in the final year of the forecast, with double the headroom compared to the OBR’s March forecast. That headroom allows us to take the actions we are proposing in the autumn statement, because the job is not yet done. Debt and inflation are heading the right way, but we must keep pushing. While growth is better than it could be, it is not as high as it should be.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  48. Looking ahead, the economy will continue to grow, boosted by 0.5% through the measures taken in the autumn statement and spring Budget. Perhaps most critically of all, debt is down. I know the Members on the Opposition Front Bench are concerned about that, but reducing debt and borrowing is essential to controlling inflation, keeping mortgage rates down and taxes low. Let me be clear: Labour’s plans would send us all the way back to square one. Labour’s inflationary £28 billion borrowing commitment will drive up inflation, cause interest rates to spiral and hammer families up and down the country. That is a fundamental difference between this Government and the Opposition. By contrast, look at what my right hon. Friend the Chancellor has achieved.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  49. I am sure the hon. Lady will be interested to know that taxes for the average worker have gone down by £1,000. However, those on higher incomes have had to pay more, which I am sure she will agree is the right approach in a difficult period. On growth, in 2010 we were facing the worst recession since the second world war, but this Conservative Government have turned things around. Since 2010, we have grown our economy faster than many in the G7, including France, Germany, Italy, Spain and Japan. Following the pandemic and the energy crisis, which were predicted to take us into recession, the economy has recovered more quickly than previously thought and is now 1.8% larger than its pre-pandemic size, growing faster than Germany.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD

  50. I will say it lots of times, believe me. This Conservative Government are the party of business. This Conservative Government are the party of workers. This Conservative Government are the party of working people. The Government have a plan to keep delivering, and it is presented to this country and to this House in today’s autumn statement. It is a plan that permanently increases the size of the economy, that backs Britain and Britain’s businesses, that rewards work and improves pay and that will deliver growth in every part of this United Kingdom.

    AUTUMN STATEMENT RESOLUTIONS · 2023-11-22 · READ IN HANSARD