YouSaid · the spoken record
Rachel Reeves
We hold 58 passages that may be Rachel Reeves’s. We do not publish them until we can confirm who spoke. See the correction.
On the record 2010–2026
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“In my hon. Friend’s constituency, thousands of children will be lifted out of poverty from next month because this Labour Government have chosen to get rid of the two-child policy that was introduced by the Conservatives and supported by their Tory tribute act friends on the Reform Benches. On business rates, I am sure that the Secretary of State for Business and Trade or a relevant Minister would be happy to meet my hon. Friend. The changes that we have made mean that there is a permanently lower multiplier for smaller businesses and high street businesses.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“This Labour Government have permanently reduced the multiplier faced by small businesses and high street businesses—the business rates system that we inherited from the previous Government. The hon. Gentleman mentions VAT. When Labour left office in 2010, VAT was 17.5%, and the Conservative Government, with the help of the Liberal Democrats, increased it to 20%. It has been there for 15 years. If his party wants to cut taxes, it also has to explain which public services it is going to cut. We have increased spending on the health service by £29 billion. That was the right decision, but it was only possible because of the tax decisions we have made.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My hon. Friend is a strong advocate for his constituents in Rossendale and Darwen, and he was also a big advocate for the reforms to the Green Book that we managed to bring in at the Budget last year. Because of those changes, we will now look more favourably at investment opportunities in rural areas, coastal communities and places that have been left behind. I welcome any suggestions for specific investments in his constituency, either through the British Business Bank, UK Export Finance or the National Wealth Fund, all of which have had their budgets expanded under this Labour Government.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is good to see the hon. Member still on the Conservative Benches—I thought she was going to be joining her Tory tribute act friends over there with the right hon. Member for Newark (Robert Jenrick). What the Office for Budget Responsibility document shows today is that people are going to be £1,000 better off by the end of this Parliament, whereas under the previous Government living standards fell, and GDP per capita is set to be 5.6% higher by the end of this Parliament, whereas under the previous Conservative Government GDP per capita fell.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We have already managed to reduce some of that borrowing premium, but if we continue, we have a £15 billion prize on offer, and that will be money to spend in our communities, on the priorities of working people, whereas under the previous Government, we just spent more and more on servicing debt interest costs.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My hon. Friend knows that if we can improve living standards and also reduce how much we are spending on servicing the debt racked up by the Conservatives, we will have more money to spend on the priorities of people in Chesterfield and elsewhere. The numbers today confirm that we will be spending £4 billion less on debt interest next year than was forecast even in the Budget just a couple of months ago, and that is because of the stability that we have managed to return to the economy. Under the Conservative Government, before Liz Truss, we were spending the average of the G7 on our debt servicing costs. That rocketed under Liz Truss.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I believe in fair taxes, and I believe the wealthy should pay their fair share, but I believe in bringing that about in a credible way that actually delivers for our constituents. That is why, in my two Budgets, I have ended the non-dom loophole, charged VAT and business rates on private school fees, raised capital gains tax and introduced a high-value property tax, which I believe the Green party opposes in London. The hon. Member failed to mention her party’s policy on defence and defence spending. This is important, especially now. We know that the Green party wants to leave NATO. She does not want to say it, but it is her party’s policy.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“To be honest, when the SNP gets involved in infrastructure projects like trying to build a couple of ferries, it all seems to go horribly wrong. That is why, despite the fact that the SNP Government have had a record settlement from us, NHS waiting lists in Scotland continue to increase, while in England and Wales, under Labour Governments, they are falling.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“That is just completely wrong. What the OBR says today is that people will be £1,000 a year better off by the end of the forecast period and that GDP per capita will increase by 5.6% after having fallen under the previous Government. Yes, productivity growth was revised down at the Budget, because of the policies of the previous Government. It has not been revised today.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“When I visited Kettering with my hon. Friend recently, it was just ahead of the capital investment in new SEND provision in her constituency, so that more young people—some of the most vulnerable—can be educated locally in Kettering, with better outcomes for them. On student finances, the last Government lost control of inflation, and, of course, student loans under plan 2 and other schemes are linked to inflation. Because we have reduced inflation, we will be reducing how much interest people pay on their student loans. That is the best way to help them.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I hear some shouting from the Conservative Benches. Inflation went to more than 11% when they were in government, and they froze the threshold on plan 2 student loans—which they introduced —for many years.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“GDP per capita, which is what matters in people’s everyday lives, has been revised up by 5.6% over the course of this Parliament. Unemployment is set to fall in every year of this Parliament, and to be at a lower rate at the end of the Parliament than when it started. We are taking £150 off energy bills from next month. In the spending review last year, we announced a record settlement for the Northern Ireland Executive. I can confirm today that that settlement increases further, by £318 million over three years for RDEL spending and £10 million for CDEL spending, and that money can be spent on the priorities of the people in Northern Ireland.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The £800 million that we are spending on the youth guarantee, together with the increase in money we are spending on further education and apprenticeships, will all benefit young people, including the 60% of young people who never go to university. We are also reintroducing maintenance grants to help the poorest students and we are reducing inflation, which will mean that people pay less back every month on their student loan. My hon. Friend rightly mentions that we set out major fiscal policy in the Budget, but with the events unfolding in the middle east and Iran, we need to ensure we can fund all the Government’s priorities and all the priorities of our constituents.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I can assure the hon. Gentleman that we will be able to do an awful lot more because we are increasing defence spending compared with the legacy that was left by the Conservative Government, and it will be the biggest increase in defence spending since the cold war because of the decisions that we have made as a Government. Because of our Prime Minister’s decisions at the weekend, we are degrading Iran’s capability to continue these attacks.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“People in Basingstoke will benefit when they commute to work on a train, when they pay for their prescriptions and when they get their energy bills, which are coming down next month. Reducing borrowing and the cost of borrowing means that we have more money to spend on the priorities of people in Basingstoke, rather than just paying the interest on the debt racked up by the Conservative party.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Our country will continue to rely on oil and gas from the North sea for many years to come, but I encourage the hon. Lady to read the documents properly. The reason why the money from the energy profits levy—just that levy, not all the other taxes paid —falls is because oil and gas prices have fallen sharply since last year’s Budget. Of course, oil and gas prices have increased hugely in the last couple of days. The increase in oil and gas prices was the reason why the Conservative Government introduced the energy profits, and they used that money to take money off people’s bills— [ Interruption. ] The hon. Lady needs to go back and do her homework—that is just the money from the energy profits levy and the amount reflects the lower energy prices.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“By controlling public spending, we can get the cost of borrowing down, as we saw in the most recent public finance numbers. They showed the biggest ever January surplus—in fact, the biggest ever surplus—on the Government national accounts, meaning that we have more money to spend on people’s priorities because we are controlling spending and bringing in the tax revenue that is needed. That is the first time that has happened, and it is because of the choices that we have made as a Government.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am happy to ask the Secretary of State for Transport or one of her Ministers to meet the hon. Gentleman to talk about that specific issue in his constituency. As he knows, as a Government we are committed to increasing capital investment by £120 billion over the course of this Parliament, because we know about the importance of infrastructure, whether it is energy infrastructure to get energy bills down, rail infrastructure to get people to work or digital infrastructure to make the most of the AI revolution.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I can confirm that because of the choices in today’s spring forecast, the settlement for the Welsh Government over the next three fiscal years will mean an additional £514 million RDEL and £15 million CDEL to spend on the priorities of the Welsh people. It is important to me and to this Government that we ensure that the wealthiest pay their fair share. We have introduced VAT and business rates on private schools, we have got rid of the non-dom tax status, and we are introducing a high-value council tax to ensure that those with the broadest shoulders pay their fair share, and that, as a result, we need to ask for less from ordinary working people.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Friend the Member for Llanelli (Dame Nia Griffith), today’s spring forecast includes an additional £540 million of RDEL spending and £15 million of CDEL spending, which the Welsh Government can spend on the priorities of the Welsh people.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We are only a couple of days into this conflict, and it is important to see where things go in the next few days. As I said in my statement, I am in regular contact with international counterparts right across the world, including in the middle east, with the Governor of the Bank of England, and with sectors—both maritime and oil and gas—that are most affected by what is happening. However, people can see from the actions of this Government—whether that is taking £150 off domestic energy bills or the extension of the supercharger to help energy-intensive industries with their energy costs, which will come in next month—that we are determined to help people. In addition, as I just said to my hon.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“There are huge opportunities in the Cornish economy—in defence, energy and critical minerals—as I saw when I was in Camborne and Redruth and in other parts of Cornwall last summer, including visiting the South Crofty tin mine, which has received National Wealth Fund money. That, alongside the Kernow plan, gives me great confidence that the opportunities that exist in Cornwall will be invested in, both by this Government through our public finance institutions and by the private sector.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“As I said after last year’s Budget, if a person just gets the basic state pension, they will not be paying tax. We will set out more details in the coming months.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I know that my hon. Friend’s Portsmouth constituency will benefit from Pride in Place funding to invest in those places that were forgotten by the previous Government. It will also benefit directly from the uplift in defence spending, which will ensure not only our country’s security, but good jobs that pay decent wages in Portsmouth. Our reforms to the Green Book mean that coastal communities will get their fair share, and will get an opportunity to bid for funding to help grow their economy through the £120 billion that we are putting in for capital investment.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I have always been clear that any policies that this Government announce will always be fully costed and fully funded. It was not until last year’s Budget that I was able to guarantee that. We have set out how that policy will be funded—through the gambling tax and by cracking down on tax avoidance and evasion. Perhaps the hon. Gentleman could advise the House why he wants 500,000 children to return straight into poverty.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I know that families and young people in West Bromwich and across the country want to get on the housing ladder. That is why we have committed to build 1.5 million new homes in this Parliament and why we have returned stability to the economy, allowing the Bank of England to cut interest rates six times. It is also why, in my Mansion House speeches, I have announced regulatory reforms to make it easier for banks and, crucially, building societies to lend more to first-time buyers, and they are doing just that.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“In every month since I became Chancellor of the Exchequer wages have risen faster than inflation. We have increased the national minimum wage and the national living wage to put more money in the pockets of the poorest people, and the interest rate cuts mean that a typical family getting a fixed-rate mortgage will be paying £1,300 less a year than when I became Chancellor. The OBR confirmed today that GDP per capita will rise by 5.6% over the course of this Parliament. I recognise that the legacy of the previous Conservative Government still runs deep and that it will take a while for people to feel the impact of these policies, but I am confident that this will be the year that things start to turn around.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I was very pleased recently to spend some time in my hon. Friend’s constituency, where we met a family who are now able to get on the housing ladder because of the reduction in interest rates. Instead of living with mum and dad, that couple and their young child are now able to get a home of their own. That is only possible because of the stability that we have returned to the economy, giving the Bank of England space to cut interest rates six times since I became Chancellor.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“As Chancellor, it was my responsibility to make sure that we had fair settlements in the spending review for every Department. That included a big uplift in the settlement for the Ministry of Justice so that we can invest in probation staff, in prison officers, and indeed in prisons, which were full to bursting point when we came into government because of the legacy of the previous Government.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am meeting representatives of the North sea oil and gas sector tomorrow because of the huge volatility we are seeing in oil and gas prices. Since the Budget, the OBR forecasts show a sharp fall in oil and gas prices, but we have seen some of that reverse in the past few days. If that continues, it will put pressure on the bills that all our constituents pay. It is important that we get the right balance between taxing profits and making sure that our constituents can fill up their car and pay their gas and electricity bills.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We are spending £100 billion a year on interest payments on Government debt. That is spending not on reducing Government debt, but just on the interest on Government debt, which is £1 in every £10 of what the Government spend. I think there are better ways to spend that money, and that is why I am determined to start bringing down the debt and, crucially, to reduce the interest payments on that debt. The OBR confirmed today that next year we will spend £4 billion less on interest on Government debt, because of the decisions we have made to return stability and give confidence to investors.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is a little rich for the Conservatives to talk about dither and delay when it comes to defence spending. They had 14 years and defence spending fell as a share of GDP. We are providing the biggest uplift in defence spending since the end of the cold war, and that is the right decision in light of the challenges we face. Frankly, if the Conservative Government had made those choices sooner, we might not be in such a position today.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Some 95,000 children in Scotland will be lifted out of poverty, and today we have been able to announce a further uplift in the budget available for the Scottish Government. We can only hope that it is a Labour Government, not an SNP Government, who have the chance to spend that money. Otherwise, I fear more increases in NHS waiting lists and worse results for kids at schools, because that is the SNP’s legacy.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Northern Ireland Executive came to us asking for additional money this year to fund their priorities, which we have provided. Today’s settlement includes an extra £380 million in day-to-day spending and £10 million in capital spending for the Northern Ireland Government to invest. If the hon. Lady does not want that money, I am sure other parts of the country would like it.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I was pleased in the Budget last year to announce the plan for Derby, alongside my hon. Friend and her neighbour the Member for Derby South (Baggy Shanker) and the Mayor of the East Midlands. Derby will benefit from hosting Great British Railways, and we will all benefit from better train services under Great British Railways. Rolls-Royce will benefit from higher defence spending and higher energy spending, including on small modular reactors, bringing more good jobs paying decent wages to Derby.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The view of the electorate just 18 months ago was that it was time to get rid of the Conservatives, because of the broken system that they had left, whether that was student finances, the NHS, our prisons or our crumbling schools. As a result, the hon. Member is sitting on the Opposition Benches, where I expect he will be for many years to come.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It was a real pleasure after the Budget last year to join my hon. Friend at a community centre in Rugby, where I was able to talk to his constituents about the benefits of the £150 cut in energy bills. The conversation I remember most from my hon. Friend’s constituency was with a woman who had lost her husband just six months before. She had four children and will benefit from the changes we made by getting rid of the two-child limit. That is a conversation I will not forget, and it is the difference we are making in government.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“As the hon. Gentleman knows, we are conducting a review of how the Valuation Office Agency calculates business rates, including for our hospitality sector. The last time that the Liberal Democrats were in office and they had a choice over VAT policy, they increased it from 17.5% to 20%. I am not sure why the public should believe that this time it would somehow be different.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It was a real honour for me to be able to visit my hon. Friend’s constituency and see the Type 31 frigates being built there. This Government are investing in defence, and in the skills of our young people so that they can get the jobs in these expanding sectors—unlike the SNP Government in Scotland, who are not investing in our young people. Too many defence companies are having to bring in labour from abroad because of the SNP’s dislike of defence spending.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The previous Government presided over a 113,000 increase in the number of young people not in education, employment or training, and the number of youth apprenticeships was cut by 40%. Why does the hon. Gentleman think that unemployment among young people is a challenge? It is because of the decisions that the previous Government made. That is why we are putting more than £800 million into a youth guarantee, it is why we are putting more money into further education—which his Government failed to do—and it is why we are expanding the number of youth apprenticeships. We recognise there is a challenge. The difference between our Government and the hon. Gentleman’s is that we are doing something about it, and they never did.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“This Government are investing in young people, by ending the two-child limit, investing in further education—which was neglected by the last Government—and increasing the number of young people who can go on to study or take apprenticeships, and, indeed, through the youth guarantee, which is worth more than £800 million. As I said in my statement, though, we want to do more to tackle the legacy that we inherited from the Conservative Government to ensure that more young people have the opportunity of work, training or a college place.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I think it can be seen from the policies that we have introduced over the past year that we are determined to address the cost of living challenges that we inherited from the Conservative party, whether by freezing rail fares, freezing prescription charges, extending the 5p cut in fuel duty until September this year or, indeed, introducing Fuel Finder to improve competition between forecourts and bring down petrol and diesel prices—but of course, as I said in my statement, we are carefully monitoring the impact of what is happening in Iran and elsewhere in the middle east, and we will do everything in our power to ensure that working people do not pay the price for that conflict.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Oil and gas will play an important part in our energy system for many years to come, including oil and gas from the North sea, but we do need to improve our energy security. That is the lesson from Ukraine that this Government are addressing by investing in small modular reactors at Sizewell C, but also investing in wind farms and solar farms, because we have got to wean ourselves off foreign oil and gas and prices that are dictated by international markets. That is why we are investing in clean energy, and what we are seeing unfolding in Iran and elsewhere in the middle east shows how necessary those policies are.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The best thing we can do to support our high streets and small businesses is ensure that more people have more of their money in their pockets to spend not on the essentials but on the things that they want to do—for instance, in local shops in the hon. Lady’s constituency. That is why we are taking £150 off people’s energy bills, have frozen prescription charges, and are freezing rail fares.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My hon. Friend’s question goes to the heart of the issue. We have done an awful lot in the last year and a half to bring down interest rates and ensure that people have more of their own money in their pockets—and there is more of that to come, with the two-child limit going from April, the £150 off energy bills from April, and last weekend’s changes in rail fares. But all that is against a backdrop of 14 years of people being made worse off by the choices of the Conservative party. I do not expect people to feel all the benefits of the changes we have made straightaway, but I believe that the changes that will come in the next few months will start to be felt in the pockets of people in Derby and across the country.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is important that we wean ourselves off oil and gas prices that are set on international markets, but I absolutely accept the hon. and learned Gentleman’s point, and I am happy to suggest that the relevant Minister meet him.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My hon. Friend speaks with authority about mortgage costs, given the jobs that he did before he became a Member of Parliament. It is true that, since the general election, somebody getting a fixed-rate mortgage will be paying £1,300 less a year than they were when we came into office. That means they have more money to spend on their high streets, on their families and on the things that matter, rather than just paying for the essentials, the price of which went up under the Conservatives.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“To help the generation that my hon. Friend speaks about, we have introduced the Renters’ Rights Act 2025, and we are also bringing down interest rates and inflation. That makes it easier to get on the housing ladder but also, crucially, reduces the interest rates on both plan 2 student loans and other students loans, the threshold for which was frozen for 10 years under the previous Government.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My hon. Friend is right about the shadow Chancellor’s blood pressure—but, frankly, I am worried about his future employment prospects. NHS waiting lists are falling because of the money that we have put in, but my hon. Friend makes a point about overall investment in the economy. After lagging behind pretty much every other advanced country in the world, since the general election we have had the fastest investment growth in the G7.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is not Shakespeare, but I always say, “Save the best till last.” If we can spend less money on paying the interest on debt, we will have more money to spend on our NHS, on our defence and on keeping taxes down. That is only possible if we return stability to the economy, and the OBR forecast shows that we have the right plan. Inflation and interest rates are coming down, while Government borrowing costs, Government borrowing and Government debt are on a downward path. That compares with the situation under the previous Government, who lost control of the public finances and, as a result, lost control of family finances. In 18 months, we have begun to turn that around. Is there more to do? Absolutely—but we have started on that course. If we stick to the plan, the prize at the end is huge.”
House of Commons3 March 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗