← LEADERSHIP TERMINAL

UK PARLIAMENT · SITTING

Lucy Rigby

MP for Northampton North · Labour · United Kingdom

IN THEIR OWN WORDS

“The Prime Minister confirmed earlier today that we will bring the welfare bill down as soon as possible. I am very happy to confirm that. As the Chancellor said yesterday, when it comes to public services we will insist on reform, prioritisation and value for money.”

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“We are reforming welfare, and the Prime Minister has made it clear today— [ Interruption. ] The welfare Budget ballooned under the Conservative party. The Prime Minister has been very clear today that the welfare bill will come down. As I have said, the contrast between our approach and the Conservatives’ could not be clearer.”

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“I thank all right hon. and hon. Members for their contributions to this Budget debate. It is an honour to respond on behalf of the Government.”

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“Friends the Members for Buckingham and Bletchley (Callum Anderson) and for Blaydon and Consett (Liz Twist), have rightly emphasised the importance of our commitment to fiscal responsibility, which underwrites every promise this Government make to the British people.”

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“Member for Arundel and South Downs (Andrew Griffith), with not so much a pinch of salt, but a whole bucket of it, because not only is he the architect of the mini-Budget, but he maintained just a few weeks ago that the mini-Budget, as the Defence Secretary said, contained lots of good things.”

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“I can. On that commitment to sound finances, our plan is to double down on the conditions that will allow for the growth that will drive this country’s future prosperity. We are determined that Britain will be an even better place to start a business, to scale it and then to stay.”

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The complete record

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  1. “The shadow Armed Forces Minister, the right hon. Member for Rayleigh and Wickford (Mr Francois), does not like that either, because he was one of the mini-Budget’s chief architects and, indeed, one of its most ardent fans. The reality is that the contrast between their approach and ours could not be clearer.”

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  2. “Member for Arundel and South Downs (Andrew Griffith), with not so much a pinch of salt, but a whole bucket of it, because not only is he the architect of the mini-Budget, but he maintained just a few weeks ago that the mini-Budget, as the Defence Secretary said, contained lots of good things. Perhaps the shadow Chancellor would like to tell us what those good things were. Were those good things the sky-high mortgages for millions of people right across this country, including in my constituency, the disastrous market impact, or the cratering of our international reputation? Britain’s economic reputation was so badly damaged under the Conservatives that the IMF publicly warned them to change course. [ Interruption. ] You can tell that they do not like to be reminded of it, Madam Deputy Speaker.”

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  3. “Friends the Members for Buckingham and Bletchley (Callum Anderson) and for Blaydon and Consett (Liz Twist), have rightly emphasised the importance of our commitment to fiscal responsibility, which underwrites every promise this Government make to the British people. As was made clear yesterday, in this Budget the Chancellor has met his fiscal rules, and for the first time this Government are meeting them in the third year of the forecast. The headroom against the stability rule is £15 billion, rising to £22 billion in 2030-31. Last year, we cut borrowing to its lowest level in six years, and the OBR’s economic and fiscal outlook confirms that borrowing will fall over the forecast. Madam Deputy Speaker, you will forgive Government Members for taking the advice of the shadow Chancellor, the hon.”

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  4. “I thank all right hon. and hon. Members for their contributions to this Budget debate. It is an honour to respond on behalf of the Government. Yesterday, the Chancellor delivered a Budget that will steer Britain through a period of global volatility and the economic storm that has increased pressures on families and firms across this country. It is a Budget that doubles down on our fiscal discipline, and that strengthens our economic resilience and national security, making responsible choices in an uncertain world. It is a Budget that offers households and businesses breathing space from cost pressures in the here and now, and one that makes critical structural changes that will drive our future prosperity. Over the course of the debate, the Defence Secretary and Labour Members, including my hon.”

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  5. “As has been pointed out by the right hon. Member for Maldon (Sir John Whittingdale) and the hon. Member for Edinburgh West (Christine Jardine), it also—”

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  6. “We are reforming welfare, and the Prime Minister has made it clear today— [ Interruption. ] The welfare Budget ballooned under the Conservative party. The Prime Minister has been very clear today that the welfare bill will come down. As I have said, the contrast between our approach and the Conservatives’ could not be clearer. The IMF forecast earlier this month that our deficit would be the lowest in the G7 by 2029. Fiscal strength matters because our economic security and our national security are inseparable. That is why this Budget strengthens Britain’s capacity to withstand global volatility. It funds the defence investment plan by reprioritising capital budgets, so that Britain can respond to a more dangerous world. It also strengthens our defence industrial base and supports skilled jobs across the country.”

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  7. “Let me talk now about energy security, because it is part of our national security, too. We are reforming our energy system so that Britain is less exposed to volatility. We will freeze new policy costs on bills, pending a comprehensive cost control framework. We are accelerating investment in the grid and we are procuring clean power only where it lowers bills and can connect properly. When it comes to our public services, this Government have stabilised spending after years of under-investment by the Conservative party.”

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  8. “That is exactly why we are increasing the small business rate relief threshold for retail hospitality and leisure properties, taking around 70,000 more businesses out of business rates altogether. For other businesses in the sector, rates will be frozen in real terms for two years. We are supporting high streets and the businesses that give them life. We are backing pubs, clubs and music venues. We are reducing the supply-side barriers that firms repeatedly tell us hold them back: energy costs, slow infrastructure decisions, red tape and access to finance. And because of our commitment to fiscal responsibility, all those measures are fully funded.”

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  9. “The Prime Minister confirmed earlier today that we will bring the welfare bill down as soon as possible. I am very happy to confirm that. As the Chancellor said yesterday, when it comes to public services we will insist on reform, prioritisation and value for money. That is what resilience looks like: sound public finances, secure energy, strong defence and a state that is able to act when the country needs it to. As hon. Members have made clear, including my hon. Friends the Members for Gloucester (Alex McIntyre), for Shipley (Anna Dixon) and for Leeds South West and Morley (Mark Sewards), the measures in the Budget will provide breathing room for families and businesses now, while also helping to bring bills down over the long term. We know that energy pressures are not just felt by families but by businesses, too.”

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  10. “To conclude, in the first half of this year, our economy was the joint fastest growing in the G7, alongside the United States. The OBR has raised its forecast for growth this year. Whole economy investment, business investment and productivity are all up. That progress is being tested by global pressures, which is exactly why the Chancellor has delivered a Budget that will steer us through the storm. It is a Budget underpinned by fiscal discipline, it provides support to families and firms now, it will strengthen our resilience, and it will put this country on the better, more secure and more prosperous course that the British people deserve. Ordered , That the debate be now adjourned.—( Liam Conlon.) Debate to be resumed on Monday 2 November . Petition”

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  11. “Member for North Cotswolds (Sir Geoffrey Clifton-Brown) that we will continue to safely adopt AI within the public sector, improving public services and productivity while securing better value for taxpayers. The Chancellor also talked yesterday about significant change to our energy policy, because we know that affordable, secure energy is a platform for growth. By accelerating grid connection, controlling costs and lowering electricity bills, we will strengthen industrial competitiveness and unlock investment across the country. We are putting our public finance institutions at the heart of Britain’s growth mission with an additional £20.4 billion of capital for the national wealth fund and the British Business Bank.”

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  12. “I can. On that commitment to sound finances, our plan is to double down on the conditions that will allow for the growth that will drive this country’s future prosperity. We are determined that Britain will be an even better place to start a business, to scale it and then to stay. A new founders’ relief will offer a 10% capital gains tax rate on eligible lifetime gains of up to £10 million for founders of high-growth companies. We are doubling the CSOP—company share option plan—limits and we are tripling the trading allowance, too. Recognising that artificial intelligence is the defining technology of our time—it is already turbocharging productivity—we are putting more than £700 million behind making it safer, more secure and easier to adopt. I am pleased to confirm to the hon.”

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  13. “I beg to move, That the Committee has considered the draft Overseas Prudential Requirements Regime (Credit Institutions and Investment Firms) Regulations 2026.”

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  14. “They replace or update inherited arrangements, provide greater clarity and certainty, and support the effective functioning and competitiveness of the UK financial sector, while maintaining appropriate safeguards. I commend them to the Committee.”

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  15. “The third SI concerns the legislation governing building societies—specifically the Building Societies Act 1986. The order makes two specific changes. First, it removes the requirement placed on building societies to execute legal documents such as mortgage deeds using a common seal, enabling them to use authorised signatures instead. That is a practical and proportionate modernisation, reducing unnecessary administrative burdens. Secondly, the order makes specific and limited exemptions from the wholesale funding calculation that building societies are required to make, to ensure that they continue to be majority owned by their members. Taken together, these instruments modernise our financial services framework.”

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  16. “In doing so, it provides firms with long-term certainty while preserving appropriate safeguards and regulatory oversight. The benefits of oversight of intragroup transactions are well recognised, so exemptions from certain clearing and margin requirements for certain transactions are a feature of regulatory regimes in the UK and other jurisdictions. TIGER was introduced following EU exit to provide a temporary regime for exempting certain transactions, but it was only ever intended to be temporary. Having been extended once already, it is due to expire at the end of this year, and the Government consider that a further time-limited extension would not provide the long-term framework and stability that firms need. The instrument therefore establishes a permanent framework for qualifying intragroup transactions.”

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  17. “It brings the existing UK capital requirements regulation equivalence regimes together in a single overseas prudential requirements regime. It also makes targeted changes so that the treatment of exposures to overseas exchanges better reflects the underlying risk; updates the definition of overseas investment firms without changing the overall scope of existing treatment; and enables eligible overseas covered bonds to be recognised in future, subject to a further statutory instrument. The second SI makes a targeted and important reform to the UK’s framework for regulating over-the-counter derivatives—those traded directly between buyer and seller—by addressing intragroup transactions. It replaces the temporary intragroup exemption regime, which everyone present will know as TIGER, with a permanent framework.”

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  18. “Although the three instruments before us concern distinct parts of the financial services regulatory system, they share a common purpose, which is to ensure that the UK regulatory framework remains clear, proportionate and able to support growth, while maintaining appropriate safeguards and financial stability. I will address each instrument in turn, beginning with the overseas prudential requirements regime regulations. Following EU exit, the UK retained a body of EU-derived financial services legislation, including the UK capital requirements regulation, which sets prudential requirements for banks, building societies and larger investment firms. The first instrument supports the Government’s programme of replacing that assimilated law with a framework tailored to the UK.”

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  19. “Effective transport links are vital to the prosperity and wellbeing of people across the country, including in our border communities. We have been working closely with the Welsh Government to deliver a plan for Welsh rail, and we continue to work with devolved Governments to ensure that border communities stay connected.”

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  20. “Border communities rely on strong transport links, and my hon. Friend is a strong advocate for the interests of his constituency and those in the surrounding area. The Government are delivering for people in all parts of the UK, including investments that will benefit those on both sides of the English-Welsh border. That includes the investment in places like Padeswood, on the Wrexham to Liverpool line, as part of the £445 million of investment allocated for rail enhancements in Wales at the 2025 spending review.”

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  21. “My right hon. Friend the Member for Makerfield (Andy Burnham) will speak for himself, but I am confident that his view is that growth extends far beyond the area that the hon. Gentleman referred to. Most importantly, this Government’s approach is to ensure that growth can be generated right across the country, rather than in just a few postcodes.”

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  22. “We have been clear that Heathrow expansion needs to benefit everyone, not just London. The Department for Transport has shown that expansion would deliver UK-wide support for trade, with 40% of the estimated GDP benefits from expansion being outside London and the south-east.”

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  23. “Nothing was snuck out. A third runway at Heathrow means more than 60,000 good local jobs, and more than £40 billion for the British economy. The hon. Lady’s question rather highlights the Lib Dems’ curious approach to growth. When they were in government, they decimated our economy with austerity, and now they oppose all the investment in infrastructure needed for growth. This Government are taking a wholly better approach.”

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  24. “The Pride in Place programme provides £5.8 billion of support to 284 neighbourhoods right across the country, including five places in my hon. Friend’s constituency, which she does so much to advocate for. We will set out more details of further funding in the Budget.”

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  25. “Mr Speaker, your comments have been fully noted, and I will ensure that they are fed back to the entire ministerial team. The Government are taking steps to support households and businesses with fuel costs in response to the conflict in the middle east. A rapid de-escalation in the middle east remains the best way to bring down fuel prices. The most impactful step, of course, would be to reopen the strait of Hormuz. That is exactly why the UK Government are playing a leading role in the international effort to get shipping flowing freely. Indeed, I contrast that with the position of the Leader of the Opposition, who would have rushed us to war. [ Interruption. ] Alongside this key step— [ Interruption. ] Mr Speaker, the boys’ club—”

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  26. “This will save a typical HGV over £600—up to £912 for some vehicles—on top of the savings that I have just described for fuel duty. To conclude, this change is one part of our support for households and businesses. It combines universal support for motorists with targeted support for those most affected by higher fuel prices. My right hon. Friend the Chancellor will update the House later today on further support measures for households and businesses.”

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  27. “Yesterday the Prime Minister made it clear that we will not increase fuel duty this year. The temporary 5p cut will be extended until the end of the year. Taken together, the Government’s decisions will save the average motorist over £120 this year, compared with the plans we inherited from the previous Government. We also recognise that farmers face substantially increased costs for fertiliser and fuel. That is why we are going further and cutting the duty rate on red diesel by over a third per litre, to the lowest rate in over 20 years. That will help other users of red diesel too. The road haulage sector is vital for transporting goods across the country. Recognising the sector’s key role and the increased costs that it is facing, we are introducing a 12-month holiday from vehicle excise duty for the majority of heavy goods vehicles.”

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  28. “Alongside this key step, the Government’s priority will continue to be helping families with the cost of living, including through protecting the public finances. The Government are taking action to bear down on prices at the pump, and in November we extended the 5p per litre cut in fuel duty for a further five months. Right now, petrol and diesel are 11p per litre cheaper than they would have been under the plans we inherited from the previous Government. Some fuels have been more impacted than others by the conflict, and we recognise that. The Government also recognise the pressures being faced by drivers and other fuel users. That is why we are introducing a package worth over £400 million that combines broad support for motorists with targeted support for the sectors most exposed to and affected by higher fuel prices.”

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  29. “Put simply, as I said, the shadow Chancellor’s party would have had motorists hurtling full speed towards higher fuel costs. It is only because of the action that this Government have taken that we have applied the brake to the hikes that his party would have introduced. The Conservatives would have introduced higher costs; we are keeping the freeze on fuel duty and protecting millions of motorists right across the country. Exactly as I said, we are taking further measures on red diesel and for HGV drivers. That is on top of additional action that we are taking on the cost of living. The shadow Chancellor and I saw each other in the studios earlier this morning when I was out there talking about the free, unlimited bus travel for children that the Chancellor will update us on—”

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  30. “I will address the point on HMRC mileage rates: as I said, the Chancellor will come to the House later and talk about the full package.”

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  31. “My apologies, Mr Speaker. I had intended to say just then that the Chancellor will come to the House and give a full statement on everything, including the matters that we are discussing. I am sorry that the shadow Chancellor is so upset and appalled by the recent growth figures. I am in the business of talking this country up rather than down. Indeed, I am grateful to him for highlighting that growth has been revised up, interest rates are coming down, inflation is coming down and real wages are going up. As I said, that is because of the prudent decisions that the Government have taken, all of which are allowing us to take further action on the cost of living. The action that we are taking on fuel duty is very important. It will save millions of motorists across this country a lot of money.”

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  32. “My right hon. Friend makes an important point. I know how passionate he is about these issues. He refers to changes made at the Budget, which were made with the best of intentions and from the point of view of encouraging the use of electric vehicles. I believe that the Chancellor may say something on that later on.”

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  33. “The hon. Member makes a really important point about the cost that farmers are facing, but that is exactly why we are taking steps to cut the duty on red diesel by more than a third to its lowest rate in over 20 years. As I said, that will help not just farmers, but other sectors, too, including in relation to freight. I am afraid that, as so often, we hear suggestions from the Liberal Democrats, “Cut this”, “Cut that”, “Try to bring things down”— [ Interruption. ] —but they are never funded. We manage the public finances— [ Interruption. ]”

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  34. “Thank you, Mr Speaker. The point is that we have to manage the public finances responsibly. We cannot put in place measures that are not fully funded, and I wish that some of the proposals being put forward were adequately backed up and fully funded.”

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  35. “My hon. Friend raises a really important issue, and I thank him for all the work that he has done in this space to try to bring down the cost for people across the country. In my old role as Economic Secretary to the Treasury, I was closer to the work of the insurance sector and the work that the current Economic Secretary is now taking forward to try to ensure that prices are brought down, but I am more than happy to convene with the new Economic Secretary and take forward the work that my hon. Friend suggests.”

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  36. “I am afraid that the hon. Member has entirely missed the fact that the plans that his Government left in place would have seen fuel duty go up. It is only because of the action that this Government are taking that millions of motorists across the country will save money.”

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  37. “As I said in response to my right hon. Friend the Member for Birmingham Hodge Hill and Solihull North (Liam Byrne), I appreciate that this is a really important issue, and I know what an important issue it is to my hon. Friend and his constituency too. As I said, I am more than happy to take up the matter, and I will discuss it with the Exchequer Secretary.”

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  38. “I think that these suggestions are being made with the best of intentions, but with the deepest respect to the hon. Member, this is all motherhood and apple pie. If we want to do these nice things, we have to be able to say where the money will come from.”

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  39. “My hon. Friend raises the important issue of hauliers and the road haulage sector. What we are discussing today is so critical to the costs that hauliers are paying, including vehicle excise duty, which of course is on top of the changes we are making to fuel duty to save hauliers money. This is one of the ways in which we are recognising the critical role that hauliers play in setting costs, including of consumer goods. All these things fit together, and I recognise how important the sector is to my hon. Friend’s constituency.”

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  40. “I am grateful to the hon. Member for her question, but if it would have been so mad to deal with fuel duty in that way, why was it her party’s intention to do exactly that? On oil and gas, we have been very clear that they will play a part in our fuel mix for years and years to come.”

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  41. “I am grateful to my hon. Friend for his question. It is because of the fiscally responsible choices that the Chancellor has made that growth and real wages have gone up, and inflation and interest rates have come down. [ Interruption. ] These things do not happen by accident; they are because of the fiscally responsible way that the Chancellor is managing our economy. That is fiscal responsibility for a purpose, that purpose being to support working people across this country.”

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  42. “I am very grateful to the right hon. Member for his kind comments. I appreciate where he is trying to go with his remarks, but what we are doing with this announcement is saving the average motorist over £120 this year, compared with the plans that we inherited. By saying—as the Prime Minister has—that we are going to extend the cut until 31 December, we are trying to give people a bit of certainty and reassurance. We recognise that family budgets are really stretched at the moment, which is why we are introducing this measure, and plenty of others, to try to help people with the cost of living.”

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  43. “My hon. Friend’s comments again highlight that the Conservative party would have raced to war. When I said that earlier—Conservative Members are doing it again; they are shaking their heads at me. The reality is—”

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  44. “Okay. One of two things is true: either the Leader of the Opposition said that she would have taken us into the conflict and she did not mean it, in which case she is really confused, frankly; or she said it and she meant it, which is demonstrative of catastrophic judgment. Neither of those things—catastrophically bad judgment or deep confusion—is an ideal quality for someone who wants to run the country.”

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  45. “We are supporting motorists in a meaningful way and it is really important. The hon. Member mentioned the Competition and Markets Authority’s fuel finder scheme. The intention of that is to save households that own a car up to £40 a year. She is right that the key principle behind that is competition. We know that competition is the way that we get to greater choice and lower prices for consumers.”

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  46. “I have to tell the right hon. Member that we are not attempting to cap the prices in supermarkets and nor were we intending to do so. The Chancellor is having discussions with supermarkets, as she is with other sectors, with a view to putting downwards pressure on prices and helping people with the cost of living. As I have said repeatedly, we on the Government Benches recognise that there is a cost of living crisis out there, not least because of the inheritance we received from the Conservatives, and we are seeking to help people with those costs.”

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  47. “I am glad to hear that the measures will help the Malcolm Group in my hon. Friend’s constituency, as indeed they will hauliers right across the country. She raises, as other hon. Members have, an important point around welfare. She also alludes to freight crime, which has been discussed at length in this House and is something in which I am particularly interested, given the nature of my constituency. The Government are taking forward action to seek to deal with freight crime, as well as taking action on welfare, but I would be more than happy to convene a meeting with other Ministers and my hon. Friend on the issue.”

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  48. “The best way to get to energy security is by doing exactly what the Secretary of State for Energy Security and Net Zero is doing at the moment with the push towards renewables. New licences in the North sea would not bring new oil and gas on stream for another 10 years, so they really are the wrong solution.”

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  49. “My hon. Friend raises an important point about the critical nature of bus services to the entire country. That is exactly why we are providing more than £3 billion for buses over the next three years, to cap fares at £3 and maintain and improve services. That includes funding for local authorities to put in place local fare initiatives if they wish to do so, as I believe the North East combined authority has done. We are also making reforms to bus franchising, which will allow for new and better services.”

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  50. “I wholeheartedly reject any accusation or idea whatsoever that we are somehow going soft on Russia and Putin. That is completely wrong. The new package of sanctions that we have introduced is stronger today— [ Interruption. ]”

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