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Category: Speeches

  • Chris Elmore – 2025 Statement on Abductions in Nigeria

    Chris Elmore – 2025 Statement on Abductions in Nigeria

    The statement made by Chris Elmore, the Parliamentary Under-Secretary of State of Foreign Affairs, in the House of Commons on 27 November 2025.

    My noble Friend the Minister of State for International Development and Africa (the right hon. Baroness Chapman of Darlington) has today made the following statement:

    I am writing to update the House on recent abductions in Nigeria, and the UK’s ongoing security partnership with Nigeria.

    In the last week, Nigeria has faced a further series of abhorrent abductions from schools and churches, including the attack on St Mary’s catholic school in Niger state, which is one of the largest recorded mass abductions in the country’s history. These crimes are intolerable. Everyone should be safe to exercise their fundamental human rights to education and freedom of worship. The UK stands firmly with the people and Government of Nigeria during this difficult time, and of course with the families of those children who have been abducted.

    As a valued Commonwealth friend, we are working closely with our Nigerian partners as they respond to these incidents, and welcome the efforts to date to secure releases of schoolgirls in Kebbi state and worshippers in Kwara state. One year on from the signing of the UK-Nigeria strategic partnership in November 2024, which includes our security and defence partnership as a key pillar, our co-operation continues to strengthen security and prosperity. This includes assisting the Nigerian Government to establish a dedicated unit, the multi-agency kidnap fusion cell, which brings together Nigeria’s police, military and justice agencies to rescue victims and bring perpetrators to justice.

    The safety of school children is paramount. UK education funding has supported school safety improvements including through the “Partnership for Learning for All in Nigeria Education” programme. In March 2025, with UK support, a safe school rapid response co-ordination centre was launched in Jigawa state, providing training and deployment of security personnel to public schools.

    Abductions and kidnap for ransom remain a prevalent issue across Nigeria. Across the country, insecurity continues to devastate communities and severely impact ordinary people, driving displacement, heightening protection risks and eroding livelihoods. In the north-east, terrorist groups including Boko Haram and Islamic State West Africa have indiscriminately killed individuals not just from Christian but also from Muslim communities. In the north-west and north-central, criminal bandits are primarily targeting communities for profit and ransom.

    This Government are committed to strengthening our security and defence partnership with Nigeria to address the roots of insecurity. In my meeting with Nigeria’s Foreign Minister, Yusuf Tuggar, on 11 November, we discussed the security situation in Nigeria and issues relating to freedom of religion or belief, and the Foreign Secretary also discussed with him on 10 November the ongoing importance of UK-Nigeria security co-operation.

    Through our security and defence partnership, we are helping to build capacity within Nigeria’s security agencies to effectively undertake counter-terrorism operations, investigations and intelligence analysis to prevent future attacks. Our “Strengthening Peace and Resilience in Nigeria” programme is working with Nigerian partners to address the root causes of intercommunal conflict, support collaboration and productive livelihoods for farmers and pastoralists and strengthen conflict early warning and response systems.

    Through our strategic partnership, this Government remain committed to working with the Government of Nigeria to tackle insecurity in all its forms.

    We will continue to express our solidarity with the people of Nigeria, to express our condemnation of these abhorrent abductions, and to stand up for freedom of religion or belief both in Nigeria, and throughout the world. We join the Government of Nigeria in calling for the safe return of all those who have been kidnapped, and call for all perpetrators to be brought to justice.

  • BSC Young Boys Football Club – 2025 Statement on Riots at Aston Villa

    BSC Young Boys Football Club – 2025 Statement on Riots at Aston Villa

    A statement made by BSC Young Boys Football Club on 28 November 2025 (translated from German) following riots involving their supporters.

    The Aston Villa vs YB match on Thursday evening was overshadowed by incidents in the away sector. A heated atmosphere was already noticeable early on during Villa corners in this area, which escalated following relatively provocative goal celebrations. The fact that beer cups, coins, and even a seat were thrown at players is inexcusable.

    ​Consequently, the referee sent YB captain Loris Benito over to the stand to calm the situation. At that moment, some YB fans attempted to move towards him to talk. However, the police officers, standing with their backs to the pitch, did not notice Loris Benito and assumed the fans were intending to storm the pitch, at which point the situation spiralled completely out of control. Clashes ensued. In the course of these altercations, two people were taken into police custody.

    ​BSC Young Boys condemns in the strongest possible terms the throwing of objects at players and formally distances itself from violence. We also apologise for the behaviour of the individuals responsible.

  • Volodymyr Zelenskyy – 2025 Daily Update (27 November 2025)

    Volodymyr Zelenskyy – 2025 Daily Update (27 November 2025)

    The statement made by Vladimir Zelenskyy, the President of Ukraine, on 27 November 2025.

    I wish you health!

    Briefly about today. We are using this day, just as every day now, for consultations with partners. Every single day, we exchange information – all the data needed to determine the optimal steps. The Russian war continues, and we all hear that Russia scorns the efforts of key global powers to truly end the war – with a lasting peace. But whether there will be peace does not depend on Russia’s threats or on whatever ultimatums it voices. It depends on the conditions the world ensures so that this aggression cannot be continued, and on what we ourselves do to defend our state, our people, and our Ukrainian national rights. 

    Right now, our defense of positions, our resistance on the frontline, and our joint work with partners to secure better diplomatic standing are equally important. And everything is aligned toward this work. 

    Already this week – at the end of the week – our team, together with American representatives, will continue to translate the points we secured in Geneva into a form that puts us on the path to peace and security guarantees. There will be a meeting of delegations. The Ukrainian delegation will be well-prepared and focused on substantive work. We remain in close contact with the American side and our European friends. I am also briefing our partners in other parts of the world, and I am grateful to them for their support of our sovereignty and our state. In the meantime, we are doing everything possible to ensure that Ukraine has sufficient defense support.

    It is obvious to everyone in the world that Russia not only has the largest internationally recognized territory, but also the largest territory that is undeveloped and neglected. All of Russia exists for the sake of Moscow and St. Petersburg, and if everything else were to collapse, no one there would even notice. So when they want more kilometers of Ukrainian land, it is not about territory for them at all. It is about preserving their power forever – about subjugating a neighboring nation. And we have clearly seen that nothing can be expected from Russia except destruction. And we are not the only ones who have seen it – everyone in Europe has, and every one of Russia’s neighbors, from Finland to Kazakhstan and Japan. Accordingly, everyone understands what must be done for defense, and it is the Ukrainian defense of positions that is the key task for us and for all our partners. The stronger we are in our defense on the frontline, the more we can achieve in diplomacy, and the more actively the world will help us press Russia to end its war.

    Today, an important meeting of the sanctions coordinators of European states took place. And if Putin does not want to stop, the sanctions will not stop. The priorities are clear – to hit Russian oil, Russia’s technological base, its finances, and its assets that serve the Russian war machine. The world will help us.

    I thank everyone who is pressuring the aggressor now, and everyone who is defending Ukraine from pressure. We value this deeply, and we see every such effort. Next week, there will be important negotiations not only for our delegation, but also for me personally, and we are laying solid groundwork for those talks. Ukraine will stand firm. It always will. Thank you to everyone who helps us! Thank you to everyone who defends Ukraine as if defending themselves.

    Glory to Ukraine!

  • Jess Brown-Fuller – 2025 Comments on Limiting Right to Jury Trials

    Jess Brown-Fuller – 2025 Comments on Limiting Right to Jury Trials

    The comments made by Jess Brown-Fuller, the Liberal Democrat spokesperson on Justice, in the House of Commons on 27 November 2025.

    The leaked memo from the Ministry of Justice, which reveals plans to rip up our criminal justice system, is particularly surprising, given that the Deputy Prime Minister himself has stated that “Jury trials are fundamental”. In a report that he wrote, he called jury trials

    “a success story of our justice system”.

    Juries are not the cause of the court backlog; that was complacency from the former Government and a failure to grip the issue by this Government, totally failing the victims who are currently waiting. Will the Minister clarify whether this MOJ proposal is a suggested temporary emergency measure or a permanent erosion of our criminal justice system? Does she share my concern that the Office for Budget Responsibility is showing a real-terms cut of 3% a year to the MOJ’s capital budget after the Budget yesterday? Does she agree with the Deputy Prime Minister’s diagnosis from opposition that the Government should

    “pull their finger out and acquire empty public buildings across the country”

    in order to clear the backlog?

    Sarah Sackman

    As the hon. Member heard me say a moment ago, the constitutional right that we guarantee every citizen in this country who comes before our criminal courts is the right to a fair trial. When victims are waiting for years for their day in court, right now justice is not being served. When the Secretary of State made those comments, it was obviously in a very different context, not one where the Conservatives had allowed the backlogs to run out of control. As I said clearly earlier, the right to a jury trial and the jury trial will always be a cornerstone of the British justice system. That will not change. It does not change in Sir Brian’s report, in which he recommends the restriction of jury trials in certain cases, and it will not change in the plans that the Government are bringing out. She is right that we need a combination of structural reform and investment and, indeed, we are making that investment. We have increased capital investment in court maintenance and buildings to £148.5 million. We are opening new criminal courts, for example in central London, in Blackpool and in other parts of the country. We have to build system capacity, with more judges, more lawyers and more staff to man those cases, but ultimately we must be laser-focused on the need to deliver swifter justice for victims. In order to do that, we will, in due course, in response to Sir Brian Leveson’s recommendations, bring forward very careful plans that protect people’s rights, including that right to a fair trial.

  • Sarah Sackman – 2025 Statement on Limiting Right to Jury Trials

    Sarah Sackman – 2025 Statement on Limiting Right to Jury Trials

    The statement made by Sarah Sackman, the Minister for Courts and Legal Services, in the House of Commons on 27 November 2025.

    This Government inherited an emergency in our criminal courts, with record and rising caseloads, leaving the victims behind each and every one of those cases facing agonising delays and waiting to see justice done, while some defendants hope that their accusers simply give up on justice.

    That is why the Government asked Sir Brian Leveson, a pre-eminent jurist and one of our most experienced judges, to undertake an independent review—a once-in-a-generation review—of our criminal courts. We have been carefully considering his recommendations and agree that a crisis of this scale requires bold action to get the system moving and to deliver swifter justice for victims. No final decisions have been made on exactly how to take forward the blueprint that Sir Brian and his expert panel have set down, and I suggest that the House waits for that response.

    Let me be clear: jury trials will always be a cornerstone of British justice. This Government will do whatever it takes to protect the fundamental right to a fair trial. The Great British justice system, with all its traditions, would never let victims wait, in some cases for four years, for justice. There is indeed a clash of ideas between those of us on the Government Benches and the Opposition. We are on the side of modernisation, defending our values, and swifter justice for victims, while they are prepared to watch the system rot, not offering any answers. The old adage rings true in the current crisis: justice delayed is justice denied. The system was simply not designed for a scenario where tens of thousands of victims are facing agonising delays for justice.

    The vast majority of cases in our courts are already heard without juries. Around 90% of all criminal cases are dealt with robustly and fairly by magistrates, with no jury. The country deserves meaningful reforms that back victims, modernisation and fairness over those gaming the system, and that speed up the courts and get victims the swifter justice that they deserve, resolving the court backlog and ensuring fair justice. As I have said, we intend to respond to the first part of Sir Brian’s review very soon, so I am afraid the House will have to wait a little longer for that response.

    Mike Wood (Kingswinford and South Staffordshire) (Con)

    Or read the papers.

    Mr Speaker

    No more leaks just yet, please.

    Robert Jenrick 

    While this Government lurch from one outrage to another, yesterday the Chancellor shredded her promises and dropped a £26 billion tax bomb on working Britain. Meanwhile, we learned that the Justice Secretary is plotting to discard centuries of jury trials without so much as a by-your-leave—and where is the Justice Secretary to answer for this? Do we need to send out a search party to Saville Row in case he has gone suit shopping again this morning? Or perhaps he could not face up to the embarrassment that he is now destroying the very principles he once championed.

    Jury trials are

    “fundamental to the justice system…fundamental to our democracy. We must protect them.”

    Those are not my words, but those of the Justice Secretary himself. This time, he was right: there is wisdom in 12 ordinary citizens pooling their collective experiences of the world. Yet, now that he is in government, he is doing the complete opposite. He blames the court backlog, but if the courtrooms standing empty this year were used, the backlog would be down by 5,000 to 10,000 cases. He pleads poverty on law and order, but yesterday the Chancellor came here and found £16 billion more to spend on benefits.

    The truth is that the Labour party just does not think that ordinary people are up to it. It does not trust them with these decisions. Give away the Chagos islands, shackle us to the European convention on human rights, scrap jury trials—all because lawyers know best. And when the Justice Secretary is summoned here to the people’s House, what does he do? He cowers away. Well, the people who make up juries—the British people—will not wear it any more.

    I have one simple question for the Minister he sent in his stead. Will she protect what is fundamental to our democracy, or will she stand by as the Justice Secretary casually casts aside centuries of English liberty?

    Sarah Sackman 

    How extraordinary, Mr Speaker. The right hon. Gentleman claims to care about the rule of law; he claims to care about ancient legal traditions. This is the same shadow Justice Secretary who denigrates our independent judges and our legal community standing up for rights. I have already said it, and I will say it again: the right to a jury trial for our most serious cases will remain a fundamental part of our British legal tradition.

    Since he is so fond of quoting our ancient principles and quoting Magna Carta, let me remind him of what is our constitutional right. Magna Carta states:

    “to no one will we…delay right or justice.”

    The right to a swift and prompt trial is a fundamental ingredient of fairness. When we have the crisis we inherited from the Conservative party, with a backlog now of some 80,000 cases—and behind each and every one of those cases is an actual victim and somebody accused of a crime—in the current system, we are denying a fair trial. When victims and witnesses pull out of the process, as is increasingly happening, that denies fairness.

    I say this while wearing this pin, which shows that we stand in 16 days of activism against violence against women and girls: a woman reporting a rape today in London will be told that her trial may not come on until 2029-30. That is not justice at all, and it is a consequence of allowing the Crown court backlog to spiral out of control while doing nothing and offering not a single answer. That is not upholding the fundamental British constitutional right to a fair trial; it is exactly the opposite.

    I for one, certainly, and as part of this Government, am not prepared to sit idly by. That is why we have gripped the crisis, making record investment in sitting days, extending magistrates court sentencing powers, investing in legal aid and asking one of our finest jurists, Brian Leveson, to conduct an independent review to provide us with a blueprint for how we get out of this mess. The Conservative party likes to call itself the party of tradition and the party of law and order, yet it presided over a justice system in which the British public can no longer have confidence.

    I am afraid that I am not prepared to let victims down. This Labour Government are finally putting victims first. That is why we will carefully consider Sir Brian’s recommendations. It is why we will undertake to implement his blueprint, which takes as its fundamental premise this: the system is broken. There is no one in this House, no one in the community that represents victims and no one in the legal community—no judge, no one operating and working hard in the system to keep it going—who thinks that the system is not broken. We have to fix it.

    Sir Brian Leveson tells us that investment alone will not fix it. We need investment coupled with structural reform and modernisation. That is exactly the blueprint that this Government will bring forward, because, as I said, we believe in the right to a fair trial, we believe in British justice and, unlike the Conservative party, we will deliver swifter justice for victims.

  • Ed Davey – 2025 Response to the Budget Statement

    Ed Davey – 2025 Response to the Budget Statement

    The speech made by Ed Davey, the Leader of the Liberal Democrats, in the House of Commons on 26 November 2025.

    We look forward to the Treasury Committee challenging the Government on the details of the Budget. This Government were elected on a promise to tackle the cost of living and grow the economy, and this is the second Budget in which they have failed to do either. For millions of people struggling with higher bills, all this Budget really offers is higher taxes.

    The OBR sets it out in black and white: disposable income and living standards are down thanks to this Budget. Surely the Chancellor should have learned from her first failed Budget that we cannot tax our way to growth. Under the Conservatives, the UK’s tax burden reached its highest level since 1948 and it hit the economy, yet under this Budget the tax burden will hit an all-time high.

    There is an alternative to all these Conservative and Labour taxes, and the shocking reality is that the Government know it: a new trade deal with Europe—a major new deal to cut the cost of living and grow our Toggle showing location ofColumn 410economy. The truth is that Boris Johnson’s Brexit deal has cost the Treasury £90 billion a year in lower tax revenue. Imagine if the Chancellor had adopted our plan to reverse those Brexit costs. Imagine how much more we could be helping families and pensioners across our country with the cost of living. Imagine how we could be ending the cost of living crisis today.

    Sir Bernard Jenkin (Harwich and North Essex) (Con)

    Will the right hon. Gentleman give way?

    Madam Deputy Speaker

    Order. You are a senior Member of the House, and I made it very clear earlier that no interventions should be made on party leaders.

    Ed Davey

    I am happy to talk to the hon. Gentleman in the Tea Room afterwards.

    The Government know the damage that the Conservative-Reform Brexit deal has done to every family and business across our country, yet they choose to reject the single biggest policy for ending the cost of living crisis, turbocharging economic growth and boosting tax revenues without raising tax: a new trade deal with Europe. We need to properly fix our broken relationship with Europe, with a new customs union. We can grow our economy by freeing British businesses from the costs, barriers and red tape favoured by the Conservatives and Reform. Rather than trying to tax our way out of debt, as Labour is choosing to do, the Liberal Democrats would grow our way out of debt.

    To be fair to the Chancellor, she has recently spoken about the terrible damage that the Conservatives’ Brexit deal has done to our economy—a deal that promised to save us £350 million a week, but which ended up costing the taxpayer £1.7 billion every week. But where is the Chancellor’s urgency and ambition to fix the problem that she rightly identifies? Today she did not even mention the huge hit to the Treasury from Brexit. She is like a doctor who has diagnosed the disease but refuses to administer the cure. She is refusing to take up our plan for a brand-new deal with the EU—a much better deal for Britain than anything the Government have pursued so far, with a new customs union at its heart.

    Everyone but the most extreme Brexiteers now realises what a costly economic disaster the Brexit deal has been. Whether they are a young family struggling with ever higher food prices or a high street business just trying to survive the Chancellor’s latest new cost or tax, people are understandably looking for a credible economic policy to change their futures for the better, and it is crystal clear that only the Liberal Democrats are providing the leadership on our economy that people are crying out for.

    There are some measures the Chancellor announced today that we do welcome. At last, she has decided to tax the big online gambling firms by raising remote gaming duty, as the Liberal Democrats have been calling for. Problem gambling is related to hundreds of suicides every year, so of course online casinos and the like should pay more tax on their huge profits. Her decision to scrap the rape clause is an excellent one. I may not have heard the Leader of the Opposition, but I was not sure if she welcomed that. I hope the Conservative party will welcome it. The Chancellor’s decision to scrap the two-child limit is excellent. It was in our general election manifesto, and I am glad that she is Toggle showing location ofColumn 411now enacting Liberal Democrat policy. It is clearly the most effective way of lifting children out of poverty, and it will save taxpayers money in the long term.

    The biggest relief today for millions of families and pensioners is the action the Chancellor is taking to reduce energy bills, and we welcome it, but even after the Chancellor’s changes, the Budget will leave the typical household paying hundreds of pounds a year more on their energy bills than five years ago. More action will be needed, but we need action on energy bills that works.

    Reform and the Conservative party pretend that the answer to rising energy bills is to scrap our climate commitments and stop investing in renewables. They could not be more wrong. The Conservative-Reform energy policy would put up bills and make the UK even more reliant on imported fossil fuels, with their volatile and high prices. That would be a disaster for our economy, a disaster for our environment, a disaster for jobs and a disaster for people struggling with energy bills. A major winner from Reform’s energy policies would be Vladimir Putin, which might explain why the hon. Member for Clacton (Nigel Farage) is so keen on them. I urge the Government not to listen to the Conservatives or Reform, but to be more ambitious in cutting people’s energy bills and to take up our plan to cut energy bills even more right now and cut them in half within a decade, finally giving families and pensioners the relief they need from this cost of living crisis.

    While there are some things to welcome, as I have just done, there are quite a lot of measures in the Budget that will cause a lot of pain and unfairness, all of which could have been avoided if the Chancellor had gone for growth with Europe instead. Her plans to tax salary sacrifice will be hugely damaging to savings and pensions, and it looks like it is another NI hit on workers. Why, oh why, when the electricity vehicle market still needs a boost to get going, is she taxing electric vehicles? If she was not spending £1.8 billion on digital ID, many of these tax rises would not have been needed in the first place. Her failure to U-turn on the family farm tax is a huge error. If the Chancellor was really looking to tax those with the broadest shoulders, why not put a windfall tax on the big banks that are making billions at the taxpayer’s expense due to the side effects of quantitative easing?

    The worst tax hike of this Budget by far—the biggest tax rise in this Budget—is the Chancellor’s decision to repeat the Conservative policy of freezing income tax thresholds. Freezing these thresholds reduces the amount that people can earn tax-free and hits the lowest-paid the hardest. I have to say that hearing the Conservative leader criticising it now rings incredibly hollow—and I think the “Member for Bark-shire” was objecting to her comments. The Leader of the Opposition cheered Conservative Budget after Conservative Budget that did exactly the same thing as the Chancellor has done—raising taxes on the low-paid. The Conservatives dragged an extra 4 million people on very low incomes into paying income tax, and an extra 3.5 million people into paying the 40p rate. The OBR says that this Government are now planning to drag a further three quarters of a million low-paid workers into tax and nearly 1 million people into the 40p rate. Someone on the average salary is paying an extra £582 this year because of the Conservatives’ policy, and under the Chancellor’s plans they will pay an extra £300 a year by 2031.

    Contrast that with our record on income tax. We raised the personal allowance by £4,000. We cut income tax by £825 for millions of people, and took 3.4 million of the lowest-paid out of paying income tax altogether. It is clear that the Liberal Democrats are the only party that believes in cutting income tax for ordinary people; Labour and the Conservatives make them pay more.

    As well as adding income tax pain to families struggling with the cost of living crisis, the Budget will add to the cost of doing business crisis facing Britain’s hospitality sector, on which the Chancellor went nowhere near far enough. Our high streets are suffering. Pubs, restaurants, cafés, caravan parks, zoos and even our beloved theme parks are struggling against higher business rates and the Government’s misguided jobs tax. The Liberal Democrats called on the Chancellor to help them with an emergency 5% VAT cut for hospitality for the next 18 months. That would have been a lifeline for some of our most beloved local businesses and for people’s jobs, boosting local economies across Britain, and it is very disappointing that the Chancellor has not listened to our calls.

    Finally, can I say how disappointed I am at how little there was for carers in this Budget? As a carer myself for much of my life, I am determined to speak up for the millions of carers less fortunate than I am—the millions of family carers and care workers who make enormous sacrifices looking after loved ones, the carers who keep our NHS going and the carers who keep our society going. They deserve far more support from the Government, and I will keep pressing their case.

    I do welcome the carer’s allowance review, but it confirms our argument that the carer’s allowance system is out of date and in need of urgent change, and we are yet to hear commitments to such changes. I welcome the decision to reassess cases where overpayment has caused huge hardship, but with those changes not coming into force for another year, the Government must instruct the Department for Work and Pensions to immediately suspend repayments during that delay and swiftly deliver compensation. More needs to be done to help family carers juggle their jobs with their caring responsibilities, and we urgently need the social care commission to actually start fixing the system on a cross-party basis and make sure that our loved ones get the care they need. The Chancellor cannot claim to be supporting our NHS properly, however much money she puts in, while she and Treasury officials keep blocking the social care reforms that alone can transform the health service across the country and boost our economy.

    A caring society, a growing economy and a plan to drive down household bills, boost high streets and go for growth with Europe—that is the vision the Chancellor should have set out today. Instead we got a low-growth, high-tax Budget from a Government who I fear are just not listening.

  • Kemi Badenoch – 2025 Response to the Budget Statement

    Kemi Badenoch – 2025 Response to the Budget Statement

    The speech made by Kemi Badenoch, the Leader of the Opposition, in the House of Commons on 26 November 2025.

    Mrs Kemi Badenoch (North West Essex) (Con)

    May I congratulate the right hon. Lady on delivering her second Budget? I hope she enjoyed it, because it really should be her last. What a total humiliation—[Interruption.]

    Madam Deputy Speaker 

    Order. Can colleagues who are exiting the Chamber do so swiftly and quietly, so that we can focus on the Leader of the Opposition?

    Mrs Badenoch 

    It is a total humiliation. Last year, the Chancellor put up taxes by £40 billion—the biggest tax raid in British history. She promised that she would not be back for more. She swore that it was a one-off. She told everyone that from now on, there would be stability and she would pay for everything with growth. Today, she has broken every single one of those promises. If she had any decency, she would resign. At the last Budget, she said she was proud to be the country’s first-ever female Chancellor; after this Budget, she will go down as the country’s worst-ever Chancellor.

    Today—[Interruption.]

    Madam Deputy Speaker 

    Order. The Chief Whip in particular knows that we do not allow clapping in the Chamber.

    Mrs Badenoch 

    Today the Chancellor has announced a new tax raid of £26 billion, and Labour Members were all cheering. Household income is down. Spending policies in this Budget increase borrowing in every year. That smorgasbord of misery we just heard from her can be summed up in one sentence: Labour is hiking taxes to pay for welfare. This is a Budget for “Benefits Street”, paid for by working people.

    This Budget increases benefits for 560,000 families by an average of £5,000. The Government are hiking taxes on workers, pensioners and savers to pay for handouts to keep their Back Benchers quiet. These are the same—[Interruption.] They can chunter all they like. These are the same Back Benchers who cheered last year when the Chancellor taxed jobs and left more than 100,000 people without an income. They cheered because they did not understand the consequences of what they were doing, and they still do not.

    It has not been an easy time for the Chancellor. No one liked seeing her sitting on the Government Benches as it dawned on her that her own Back Benchers were going to do to her political career what she has done to our economy. She could have chosen today to bring down welfare spending and get more people into work. 

    Instead, she has chosen to put up tax after tax after tax—taxes on workers, taxes on savers, taxes on pensioners, taxes on investors and taxes on homes, holidays, cars and even milkshakes. There are taxes on anyone doing the right thing. She and this Government have lost what little credibility they had left, and no one will ever trust her again.

    What is amazing is that the Chancellor has the nerve to come to this House and claim that this is all someone else’s fault. She has a laundry list of excuses. Labour Members blame the Conservatives as if we have been sneaking into the Treasury under the cover of darkness to give pay rises to the unions. The Chancellor inherited an economy with inflation at 2% and record-high employment. She has tanked it in just over a year. She has endless excuses—she blames Brexit and Donald Trump, but she needs to blame herself.

    I have some news for the Chancellor—she did not seem to understand what the OBR was saying. Inflation is up, not down, and that inflation was stoked by her tax and spend decisions. The economic and fiscal outlook says that the OBR expects inflation to stay higher for longer. Everybody else has read the OBR analysis, but she still has not. She blames higher than expected borrowing costs. Where does she think they came from? [Hon. Members: “You!”] Those borrowing costs are driven by the Chancellor’s lack of grip. Labour Members are saying those costs came from us, but she is paying more to borrow than Greece. She is paying more to borrow than at any point under the 14 years of Conservative government—perhaps if Labour MPs read a book sometimes, they would know something—which included an energy crisis sparked by a war in Ukraine and a global pandemic. What is the Chancellor’s excuse? She is taking the public for fools, but they are under no illusions about whose fault this is.

    The fact is that the bad choices the Chancellor is making today—choices to break promises, choices to put up taxes, choices to spend more of other people’s money—are because of the bad choices she made at the last disastrous Budget. If you want growth, you need to start with knowing what kind of country you want to be and make a plan to get there. You need to create certainty for the people and businesses who will drive growth. There is no growth and no plan, because Labour focused on settling scores and scratching the itches it had while in opposition.

    The Chancellor promised stability. She delivered chaos. Just look at the circus around this Budget: first, the leaks—then more leaks to try to undo the damage; calling panicky press conferences and U-turning on her U-turns; rolling the pitch one day only to plough through it the next. She had the cheek to talk about stability, but she has become the first Chancellor in history to release the whole Budget ahead of time. This is extraordinary, and it tells us everything we need to know about her grip on the Treasury. She is making the UK a shambolic laughing stock to international investors, and if she does not resign for breaking her promises, she should sure as hell go for this.

    What have we got for all this chaos and disorder? There are 1 million more people claiming universal credit than there were at the time of the last Budget. Government spending? Up. Welfare spending? Up. Universal credit claimants? Up. Unemployment? Up. 

    Debt interest? Up. Inflation? Up. And what about the things that we want to go up? Growth? Down. Investment? Down. Business confidence? Down. The credibility of the Chancellor? [Hon. Members: “Down!”] Not just down, but through the floor.

    These figures are shocking. Does the Chancellor really think that anyone will be confused by the sleight of hand in her speech? Her speech today was an exercise in self-delusion. Today she had an opportunity to apologise and show some humility; instead, we have been fed puff pieces in The Times and the FT showing a woman wallowing in self-pity and whining about mansplaining and misogyny. Let me explain to the Chancellor—[Interruption.]

    Madam Deputy Speaker (Ms Nusrat Ghani)

    Order. Colleagues need most definitely to simmer down: just breathe a little and allow the Leader of the Opposition to be heard.

    Mrs Badenoch 

    All we have had is wallowing in self-pity and whining about misogyny and mansplaining, so let me explain to the Chancellor, woman to woman, that people out there are not complaining because she is female; they are complaining because she is utterly incompetent. Real equality means being held to the same standard as everyone else. It means being judged on results. Take the Chancellor’s bright idea: the Office for Value for Money. It has been closed down because it did not save a penny. In fact, it cost the taxpayer £1.6 million. You could not make this stuff up. I have identified a way to save taxpayers huge amounts of money, by sacking just one person: the woman sitting opposite me.

    The ex-chief economist of the Bank of England was not mansplaining when he said that the uncertainty around today’s Budget is

    “the single biggest reason growth has flatlined”.

    What did the Chancellor think would happen when she went on breakfast telly to do an emergency public service announcement: “I interrupt your Cheerios to bring you this frightening message about income tax”? Then, unbelievably, she changed her mind three days later. No wonder people are in despair. She says she wants people to respect her—[Interruption.]

    Madam Deputy Speaker (Ms Nusrat Ghani)

    Order. Conservative colleagues are drowning out the Leader of the Opposition’s speech, so just be mindful that nobody at home will be able to hear her.

    Mrs Badenoch 

    The Chancellor says that she wants people to respect her, but respect is earned. She apparently told Labour MPs this week, “I’ll show the media, I’ll show the Tories—I will not let them beat me.” Show us what? Making stuff up at the Dispatch Box, incompetent chaos and the highest tax burden in history? She said to them, “I’ll be there on Wednesday, I’ll be there next year, and I’ll be back the year after that.” God help us! She is spineless, shameless and completely aimless.

    Talk to any business and or anyone looking for a job—unemployment is up every single month since Labour has been in office. [Interruption.] Labour MPs do not want to hear it, but it is true. They are shouting and complaining, but they cannot create jobs. It is the worst year for graduate recruitment on record. Are they proud of that? [Interruption.]

    Madam Deputy Speaker 

    Order. If you are on the Front Bench, I can obviously see you, Mr Kyle. There is no need for you to be chuntering this loudly. Everyone else can see and hear you as well.

    Mrs Badenoch 

    Labour MPs do not want to hear the truth, but I am speaking for all those people out there who are sick of this Government. Companies like Merck and Ineos are slashing investment plans. The construction sector has shrunk. How is that house building target going, by the way? I will tell you, Madam Deputy Speaker: the Government are miles behind and will not even come close to what we achieved. Business confidence is at record lows. No wonder that today future growth was revised down for every year of the scorecard. The papers are reporting that one in eight business leaders is planning to leave Britain. Even one of Labour’s biggest ever donors, Lakshmi Mittal, has fled the country.

    What we have in front of us is a Budget littered with broken promises. The Chancellor stood on a manifesto that promised better returns for UK savers. Today she is putting up taxes on savings and on salary sacrifice even. She promised to give pensioners the security in retirement that they deserve. Today she slapped higher taxes on people saving for their pension. She promised to make Britain the best place in the world to invest and do business. Today she has raised the dividend tax rates. She and the Prime Minister had already broken their promise to freeze council tax, but today she has decided to go even further, introducing a new property tax clobbering family homes that will only raise small amounts. This is Labour’s Britain: people who work hard and save hard to buy their homes get taxed more, while those who do not work—those who, in some cases, refuse to work—get their accommodation paid for by taxpayers.

    To top it all off—because taxing your home, your car, your savings and your pension was not enough—the Chancellor has, by her own admission, broken her manifesto promise on income tax. In the last Budget, she said:

    “I am keeping every single promise on tax that I made in our manifesto, so there will be no extension of the freeze in income tax…thresholds”.

    She also said that

    “extending the threshold freeze would hurt working people. It would take more money out of their payslips.”—[Official Report, 30 October 2024; Vol. 755, c. 821.]

    But today she has done exactly that. Why should anyone believe anything she has promised in this Budget?

    Where is the money going? There are small changes to rail fares and prescriptions. Those are distractions while the Chancellor steals your wallet. The real story is that Labour has lost control of welfare spending. Not only will working people have their tax thresholds frozen while benefits go up in line with inflation, and not only has Labour abandoned reforms that would have saved the taxpayer £5 billion after pressure from its own Back Benchers, but today Labour has added another £3 billion to the bill by scrapping the two-child benefit cap. We introduced that cap, because it means that people on benefits have to make the same decisions about having children as everyone else. Even Labour voters know that it strikes the right balance between supporting people who are struggling and protecting taxpayers who are struggling themselves.

    Just this summer, the Chancellor admitted that lifting the two-child benefit cap was not affordable, but that was before the Prime Minister accidentally fired the starting gun on the race to replace him. Now he and the Chancellor are buying the votes of their own MPs with taxpayers’ money. If she wants to reduce child poverty, she should stop taxing their parents and stop destroying their jobs. She congratulated herself on a new tax on landlords. Let me tell her this: hiking tax on landlords will only push up rents. It will push landlords out of the market, and the people who will suffer are the tenants. Then she talks about taxes on electric vehicles. Those changes will hit rural drivers the hardest, but we know that Labour does not care about rural people.

    All this Budget delivers is higher taxes and out-of-control spending. Nobody voted for this. The Chancellor must take responsibility. She chose to impose the jobs tax, driving unemployment higher month after month. She chose to abandon welfare reform, meaning that the benefits bill is spiralling. She chose to spend more and more money she did not have, leaving taxpayers to foot the bill. She is out of money, out of ideas, out of her depth, and she has run out of road.

    The country simply cannot afford a Chancellor who cannot keep her own promises. Her position is untenable, and she knows it. [Interruption.] She is talking to the Prime Minister. Is he mansplaining to you, by the way? Is he mansplaining? Would you like some help? The Prime Minister should grow a backbone and sack her, but he will not, because he knows that if she goes down, he goes down with her, so we are stuck with them both, Laurel and Foolhardy.

    Does the Chancellor have any sympathy for the people facing Christmas without a salary because of her jobs tax, or for the retailers suffering sleepless nights because of their plummeting Christmas sales? People out there are crying. Last year, we had the horrors of the Halloween Budget. This year, it is the nightmare before Christmas. As for her, she is the unwelcome Christmas guest. Ten minutes through the door and she has eaten all the Quality Street.

    Let me tell the Chancellor something she has forgotten. Behind every line in today’s Red Book is a family, a home, and a lifetime of work and sacrifice. People are frightened, and they have every reason to be—the Chancellor has spent the last year terrifying them. Every decision that she and the Prime Minister make puts more pressure on the people who keep this country going. If Labour is the party of working people, why is it that every day under this Government, thousands more people are signing off work and on to benefits? It is the Conservatives who are the party of work. The Labour party should be renamed the Welfare party.

    The Government are making a mistake. The British public do not want higher welfare spending; they want people in work, providing for themselves. They want to live in a country where hard work pays—where what you put in reflects what you get out, and we agree with them. There is an alternative, and we Conservatives have set it out. This Budget could have saved £47 billion, including £23 billion from welfare. The Chancellor could have applied our golden economic rule, allocating half those savings to cutting the deficit and using the rest to cut taxes. [Interruption.] Oh, they are all pretending that they are not listening. It is the shame of the mess that they have made—

    Madam Deputy Speaker (Ms Nusrat Ghani)

    Order. Mr Vince! And Mr Thompson, you are so enthusiastic that I was worried a moment ago that you would knock Mr Waugh off his seat. We need to calm down and breathe, and we need to ensure that we can hear the Leader of the Opposition.

    Mrs Badenoch 

    Even the dog is laughing at the Chancellor, Madam Deputy Speaker.

    The Chancellor could have abolished stamp duty on homes to get the housing market moving, and she could have abolished business rates on shops to breathe life into our high streets. She could have introduced our cheap power plan, which would save a lot more money than what she announced, and would bring down energy costs for homes and businesses. That is what she should have done.

    The Chancellor should be on the side of people who get up and go to work, people who take a risk to start a company, and people working all hours to keep their business afloat. She should be on the side of the farmer trying to hand something over to the next generation, and the investor deciding whether to spend their money in the UK or elsewhere. She should be on the side of the young person looking for their first job, the saver doing the right thing and putting money away for a rainy day, and the pensioner trying to enjoy a decent retirement. This country works when we make the country work for those people. Only the Conservatives are on their side, and our plan for them is simple: bring down energy costs, cut spending, cut tax, back business, and get Britain working again.

  • Rachel Reeves – 2025 Budget Statement

    Rachel Reeves – 2025 Budget Statement

    The statement made by Rachel Reeves, the Chancellor of the Exchequer, in the House of Commons on 26 November 2025.

    It is my understanding that the Office for Budget Responsibility’s “Economic and fiscal outlook” was released on its website before this statement. This is deeply disappointing and a serious error on its part. It has already made a statement taking full responsibility for its breach.

    We are rebuilding our economy. Over the last 16 months, we have overhauled our planning system to get Britain building; forged new trade deals with the United States, India and the European Union; reformed our visa system to bring the brightest and the best to Britain; changed the fiscal rules that we inherited from the Conservatives; and raised public investment to its highest level in four decades. In last year’s Budget, I raised taxes on business and the wealthiest to close the £22 billion black hole in the public finances left by the Conservative party. We used that money to fund the biggest ever settlement for our national health service.

    Those were the fair and necessary choices. We faced opposition to them—from opponents to planning reform who will always demand that the future is built somewhere else, not in their backyard; opponents to trade who want to take us down the path of isolation and division; opponents to investment who believe that the only good thing a Government can do is get out of the way; opponents who insist that the only way to balance the books is to cut public spending; and opponents who say that we do not need to balance the books at all. But we made these choices for a reason: because after 14 years of Conservative Government, working people demanded—and deserved—change, with investment, not cuts, to our public services; stability for our public finances, which is the single most important factor in getting the cost of living down; and economic growth, which is the best means of improving wages, creating jobs and supporting public services. That is what our plan, this Government and our Prime Minister are all about.

    Today’s Budget builds on the choices that we have made since July last year to cut NHS waiting lists, to cut the cost of living, and to cut debt and borrowing. No doubt, we will face opposition again, but I have yet to see a credible or a fairer alternative plan for working people. [Interruption.] These are my choices: the right choices for a fairer, a stronger and a more secure Britain.

    Madam Deputy Speaker
    (Ms Nusrat Ghani)
    Order. There is far too much noise. I expected so much better from you, Dr Luke Evans; you are meant to be a leader in your community. Simmer down.

    Rachel Reeves
    I am happy for them to shout as much as they like, Madam Deputy Speaker, as long as they do it from the Opposition Benches, where they cannot cause any more damage.

    I said that there would be no return to austerity, and I meant it. This Budget will maintain investment in our economy and in our national health service. I said that I would cut the cost of living, and I meant it. This Budget will bring down inflation and provide immediate relief for families. I said that I would cut debt and borrowing, and I meant it. Because of this Budget, borrowing will fall as a share of GDP in every year of this forecast. Our net financial debt will be lower at the end of the forecast than it is today, and I will more than double the headroom against our stability rule to £21.7 billion, meeting our stability rule, and meeting it a year early. These are my choices—not austerity, not borrowing, not turning a blind eye to unfairness. My choices are a Budget for fair taxes, strong public services and a stable economy. That is the Labour choice.

    Growth is the engine that carries every one of our ambitions forward, through stability, investment and reform. It is the platform from which British ambition can finally get moving again. Growth does not just appear out of thin air; it is built, patiently and stubbornly, by people who take risks; by founders who bet their savings on an idea; by firms breaking into new markets, developing new technologies and creating new jobs and new opportunities; and by the men and the women who work hard every day, in all parts of our country. Our job is not to watch from the sidelines, but to partner with them, backing them every step of the way, and to match private enterprise with public ambition.

    I thank my team of officials at the Treasury for their hard work in preparing this Budget. In the spring, the Office for Budget Responsibility forecast that our economy would grow by 1% this year. I said then that Britain would defy the forecasts, and defy them we have. The OBR has upgraded Britain’s growth for this year from 1% to 1.5%, reaching the same conclusions as the International Monetary Fund, the OECD and the Bank of England, which have already upgraded their forecasts.

    Today, the OBR has published the result of its review of the supply side of the economy. It is clear that this is not about the last 14 months; it is about the previous 14 years, the legacy of Brexit and the pandemic, and the damaging decisions by the Conservative party, which cut public spending, leaving communities and entire regions behind, starved our economy of investment, and weakened our public services.

    As a result of its review, the OBR is reducing its expectations for productivity growth by 0.3 percentage points to 1% by the end of the forecast. It says today:

    “Real GDP is forecast to grow by 1.5% on average over the forecast period…due to lower underlying productivity growth.”

    There is an impact on our public finances too. The OBR says that its productivity forecast will mean £16 billion less in tax receipts by 2030. Those forecasts are the Tories’ legacy, not Britain’s destiny. [Interruption.]

    Madam Deputy Speaker
    (Ms Nusrat Ghani)
    Order. It is very hard to hear the Chancellor over all the shouting. Mr Holmes, you promised me yesterday that you would be on your top behaviour in the first few minutes. I call the Chancellor.

    Rachel Reeves
    We beat the forecasts this year, and we will beat them again by boosting trade, not blocking it; by increasing investment, not cutting it; by championing innovation, not stifling it; and by backing working people, not making them poorer. Brick by brick, we have been building our economy—building roads, building homes, and getting spades in the ground and cranes in the sky.

    Growth begins with a spark from an entrepreneur. Half of new jobs in Britain are created by scale-up businesses, and we want those jobs created here, not somewhere else. Our job is to make Britain the best place in the world to start up, to scale up and to stay. We are widening eligibility for our enterprise incentives, so that scale-ups can attract the talent and capital that they need; expanding the enterprise management incentive, so that more companies can offer tax-relieved share options; re-engineering our enterprise investment and venture capital trust schemes, so that they do not just back early-stage ideas, but stay with companies as they grow; and introducing UK listings relief, with a three-year exemption from stamp duty reserve tax for companies that choose to list here in Britain.

    To continue this work, I am launching a call for evidence on how our tax system can better back entrepreneurs, and a targeted review with founders and investors at its heart, to make the UK an even more attractive place to grow a business. We are sending a simple message to the world: “If you build here, Britain will back you.”

    Our retail investment system should do the same. The UK has some of the lowest levels of retail investment in the G7, and that is not only bad for businesses, which need that investment to grow; it is bad for savers, too. Someone who had invested £1,000 a year in an average stocks and shares individual savings account every year since 1999 would be £50,000 better off today than if they had put the same money into a cash ISA. So from April 2027, I will reform our ISA system, keeping the full £20,000 allowance while designating £8,000 of it exclusively for investment, with over-65s retaining the full cash allowance. Thanks to our changes to financial advice and guidance, banks will be able to guide savers to better choices for their hard-earned money. Over 50% of the ISA market, including Hargreaves Lansdown, HSBC, Lloyds, Vanguard and Barclays, have signed up to launch new online hubs to help people invest here in Britain.

    At this Budget, consistent with the commitments in our corporate tax road map, I will retain our competitive corporation tax rate, the lowest in the G7, and retain our generous full expensing offer for business investment. I will also introduce a new 40% first year allowance, so that businesses can write off more of the cost of their investment up front, while reducing main rate writing-down allowances in line with fiscal constraints.

    Private investment is the lifeblood of economic growth, but growth needs public investment too. When faced with challenges, previous Chancellors have chosen to decrease, delay or cancel capital spending, but low investment is the cause of our productivity problems, not the solution. So my choice is not cuts, not stagnation, but to maintain the additional £120 billion of investment that I provided at the spending review: in transport to link our towns and cities; in energy infrastructure to power our businesses; and in housing, so that people can live near good jobs and growing businesses that pay decent wages. That is the Labour choice.

    I am grateful to the Financial Secretary to the Treasury for his work in driving our growth agenda forward. As we allocate investment for the infrastructure that is the backbone of economic growth across our country, today I will commit investment for the lower Thames crossing, and we are continuing to drive investment in city region transport, in the midlands rail hub and the trans-Pennine route upgrade, along with our commitment to the northern growth corridor, including Northern Powerhouse Rail.

    It this Labour Government that have overhauled our planning system, and I will today provide further funding to increase planning capacity through a new skills offer, as has been called for by the British Chambers of Commerce and the Confederation of British Industry. It is this Labour Government that have invested in nuclear power: in Sizewell C and in Culham. We are taking forward our commitment to slash electricity prices for thousands of manufacturing businesses, as Make UK and many others have called for. Today, I am pleased to welcome John Fingleton’s report—an ambitious plan to cut the red tape that has tied our nuclear industry in knots for decades—and within three months we will set out our plan for delivering his recommendations.

    We are proud of our industrial heritage and we are determined to build the industry of the future so that we buy, make and sell more here in Britain. That is why, as we increase defence spending, we are investing in Portsmouth, in Barrow and in Plymouth, and I am pleased to be supporting Team Derby, an initiative to drive growth in one of our defence industry hubs. It is why we stepped in to save British Steel in Scunthorpe and invested in Sheffield Forgemasters. It is why we have changed Government procurement so we can buy British when it is crucial to our national security. For steel, for shipbuilding and today for AI, we are driving innovation and building that great industry here in Britain.

    But it is not just what we invest in that matters; it is how we invest—putting money and power back in the hands of local and regional leaders. Today, we are devolving £13 billion of flexible funding for seven mayors to invest in skills, business support and infrastructure. I am extending the business rates retention pilots in the west of England, Liverpool city region and Cornwall until 2029, and providing £30 million for the Kernow industrial growth fund for sectors like critical minerals and marine innovation. I am establishing the Leeds city fund, a long-term agreement to retain business rates to fund local regeneration projects like the development of Leeds south bank, and I am allocating £20 million for the new Peterborough sports quarter and £16 million for a science centre in Darlington from the growth mission fund.

    The benefits of investment and growth must be built and felt in every part of our United Kingdom, so we are providing an additional £370 million for the Northern Ireland Executive, £505 million for the Welsh Government and £820 million for the Scottish Government over the spending review period through the Barnett formula. Sorry, I didn’t quite catch that from the SNP. Did they not show up? Perhaps they didn’t hear us: £820 million for the Scottish Government over the spending review period because Anas Sarwar asked us to. I am making targeted investments in our industrial strategy sectors across the UK.

    In Northern Ireland, I am providing £17 million to support businesses and strengthen the UK internal market, and backing advanced manufacturing through the Northern Ireland enhanced investment zone. Wales will be the host for two AI growth zones, creating more than 8,000 jobs supported by a £10 million investment in the semiconductors critical for that industry. We are building the UK’s first small modular nuclear reactors with Rolls-Royce at Wylfa in Anglesey—two Labour Governments working together in Wales to deliver for the people of Wales.

    In Scotland, I am committing over £14 million for low-carbon technologies in Grangemouth, £20 million to renew infrastructure at Inchgreen in Inverclyde and £20 million to redevelop Kirkcaldy town centre and seafront with construction starting next year. That is on top of the UK’s biggest ever warship export deal with the Norwegian Government to build frigates in Glasgow, supporting 4,000 jobs. Investment opposed by the SNP, jobs opposed by the SNP, defence opposed by the SNP, but secured by this Labour Government.

    A growing economy needs strong foundations of economic stability, with borrowing and inflation down and investment up. That is good for business, and it is good for working people so they have more money in their pockets. Economic stability, safeguarded by iron-clad fiscal rules, is our best defence against rising prices and the best way to improve living standards.

    We have all seen the alternative. Three years ago, in their clamour to cut taxes for the richest, the Tories under Liz Truss crashed the economy, sent mortgage rates spiralling and brought pensions to the brink. [Interruption.] They are being so loud, and yet I can’t even hear them now. I know that the leader of the Green party is a keen hypnotherapist, and believes that he can achieve remarkable things using only the power of his mind. Unfortunately, the only things getting bigger under his approach would be the deficit and the rate of inflation.

    For all the damage that the Conservative cuts did to our schools and hospitals, they also doubled the national debt. Our net financial debt this year will be £2.6 trillion, 83% of GDP, meaning that today £1 in every £10 the Government spend is on debt interest—not on paying down that debt, but just on paying the interest on the debt we inherited from the Conservatives.

    My fiscal rules will get borrowing down while supporting investment: the stability rule—that day-to-day expenditure must be met through tax receipts—and the investment rule, which allows me to increase investment while getting debt on a downward path. Those fiscal rules are non-negotiable. I met them at the Budget last year, I met them in the spring and I have met them today.

    While the current Budget balance is in deficit by £28.8 billion in ’26-27 and £4.6 billion in ’27-28, it moves into a surplus of £3.9 billion in ’28-29, £21.7 billion in ’29-30 and £24.6 billion in ’30-31—more than doubling our headroom against the stability rule and meeting that rule a year early, too. Our net financial debt is 83.3% in ’26-27, 83.6% in ’27-28, 83.7% in ’28-29, falling to 83.0% in ’29-30 and 82.2% in ’30-31. I said we would cut the debt and we are, with debt down by the end of the forecast. Going forward, to support our commitment to a single fiscal event and to further strengthen our economic stability, I will follow the recommendations of the International Monetary Fund by assessing the fiscal rules just once a year at the Budget.

    Despite the challenges we face on productivity, the path of our deficit reduction remains broadly the same as in the spring. Public sector net borrowing is due to be £112.1 billion or 3.5% of GDP in ’26-27, 3.0% in ’27-28, 2.6% in ’28-29, 1.9% in ’29-30 and 1.9% in ’30-31, ending at £67.2 billion, translating into an increase in the net cash requirement next year of £4.2 billion, taking the total to £133.3 billion. According to the IMF, we are due to reduce borrowing more over the rest of this Parliament than any other G7 economy.

    The Conservatives crashed the economy; we are protecting it. The Conservatives lost control of debt; we are getting debt down. The Conservatives let inflation and interest rates go through the roof, but since Labour took office the Bank of England has cut interest rates five times. I have made my choices: not reckless borrowing, not dangerous cuts, but stability for our economy, security for our public finances and security for family finances, too. Those are the Labour choices.

    Tory austerity left classrooms crumbling and waiting lists sky high, weakened our productivity and choked our economic growth, and now the Conservatives propose a further £47 billion of cuts to our public services. That is the equivalent of cutting every police officer in our country twice over. Then there is Reform, which promises more than £100 billion of cuts with no detail on where those cuts will come from or who will pay for them—a recipe for devastating damage to our public services.

    People voted for Labour because they want roads that are not full of potholes, police on our streets, and an NHS that is there when they need it. We are delivering that. Waiting lists are down by 230,000, and we have already delivered not just the 2 million additional appointments that we promised, but an additional 5.2 million appointments since the general election.

    I joined the Labour party almost 30 years ago because I could see that the Conservative Government I grew up under did not care much about schools like mine. Textbooks were rationed—[Interruption.] I know that many of you were not at schools like mine. [Interruption.]

    Madam Deputy Speaker
    (Ms Nusrat Ghani)
    Order. There is far too much noise, far too much excitement. People need to calm down a little.

    Rachel Reeves
    The Tories do not want to hear what they did to schools like mine, but I will tell them. Textbooks were rationed, libraries closed and kids herded into portacabins in the playground. I came into politics to change that. The money that I allocated at the spending review will fix the crumbling classrooms that the Conservatives left behind, and build the schools they promised but never delivered.

    Today, thanks to representations from my hon. Friends the Members for Wolverhampton North East (Mrs Brackenridge) and for Leeds South West and Morley (Mark Sewards), I will provide £5 million for libraries in secondary schools, building on the £10 million commitment to ensure that every primary school has a school library within this Parliament. Thanks to representations from my hon. Friends the Members for Bournemouth East (Tom Hayes) and for Luton North (Sarah Owen), I am providing £18 million to improve and upgrade playgrounds across England. Let there be no doubt that this Government are on the side of our kids and will back their potential.

    I will not allow the legacies of Conservative neglect to stain our society. Last year, I made changes to the Mineworkers’ Pension Scheme to ensure that its members receive the fair pensions that they are owed. This year, with thanks to the Minister for Pensions for all his work on this subject, I can go further. I have heard representations from Labour coalfield MPs, including my hon. Friends the Members for Bassetlaw (Jo White), for Blyth and Ashington (Ian Lavery), for Barnsley South (Stephanie Peacock), for Mansfield (Steve Yemm) and for Llanelli (Dame Nia Griffith), and I can today announce that I will transfer the investment reserve fund of the British Coal staff superannuation scheme to its members, so that the men and women who worked in our coal industry get a fair deal in their retirement, too. And there is more. Having heard representations from my hon. Friends the Members for Banbury (Sean Woodcock) and for Edinburgh South West (Dr Arthur), I will index for inflation on pensions accrued before 1997 in the pension protection fund and the financial assurance scheme, so that people whose pension schemes became insolvent—no fault of their own—no longer lose out as a result of inflation.

    Last year, I also provided funding to compensate the victims of the infected blood scandal, after the previous Government failed to budget for the costs of compensation. This year, I have listened to representations from my hon. Friends the Members for Eltham and Chislehurst (Clive Efford) and for Edinburgh South West. I thank the Minister for Employment for her representations over many years on this subject. As a result, I will exempt all payments from the infected blood scheme from inheritance tax, regardless of the circumstances in which those payments are passed down. That is how we should be spending taxpayers’ money: on dealing with injustices and building strong public services, not on waste and inefficiency.

    At the spending review, I set out an ambitious target for £14 billion of efficiencies per year by 2029. I am grateful to the Chief Secretary to the Treasury for driving that work forward, realising savings through artificial intelligence and automation, and by scrapping NHS England and reducing back-office staff by 18,000. At this Budget, I will find a further £4.9 billion of efficiencies by 2031, by getting rid of police and crime commissioners, cutting the cost of politics and local government, and selling Government assets that we no longer have any use for.

    These savings will be required across Government, but for our national health service, I will invest all those savings back into the care that people rely on—more nurses, more GPs and more appointments, restoring the services that faltered under years of Conservative decline and investing in the future of our national health service. Today, I am announcing £300 million of investment in technology to improve patient service, and 250 new neighbourhood health centres, expanding more services into communities so that people can receive treatment outside hospitals and get better, faster care where they live. More than 100 of those centres will be delivered by 2030, including in Birmingham, Truro and Southall. The Labour party founded our national health service, and we will renew our national health service.

    I will take the same approach for defence spending that I take for NHS spending, reinvesting savings back into our national security. In our age of insecurity, Britain will continue to stand with our allies, working in collaboration to secure a sustainable ceasefire for Ukraine, and maintaining our commitment to NATO, with the UK set to spend 2.6% of GDP on defence by April 2027.

    The public rightly expects that we stamp out fraud, error and waste, and put that money to good use in our schools, hospitals and other frontline services. My right hon. Friend the Home Secretary has already announced that she will claw back excess profits from the use of hotels to house asylum seekers, as we phase out the use of those hotels entirely. And we will consult on reforms to indefinite leave to remain and access to taxpayer-funded benefits.

    The introduction of digital ID will break the link between illegal migration and illegal working, and His Majesty’s Revenue and Customs and the fair work agency will crack down on the illicit businesses that blight our high streets and undercut legitimate firms, enforcing the minimum wage, investigating dodgy businesses and increasing scrutiny of the gig economy, as well as tracking down fraudulent business owners who vanish without paying their taxes. I thank my hon. Friends the Members for Great Grimsby and Cleethorpes (Melanie Onn), for Leigh and Atherton (Jo Platt) and for Kensington and Bayswater (Joe Powell) for their representations on this subject. I will take further steps to prevent and track down unpaid tax. Together, these reforms will raise nearly £10 billion a year by 2030, including through new powers for HMRC to pursue the promoters of tax avoidance schemes.

    I am building on our successful use of targeted checks on welfare claims to root out fraud and error and to prevent public money from being paid to people who are not entitled to it. I thank Tom Hayhoe, the covid corruption commissioner, for his work in helping to chase down nearly £400 million from dodgy pandemic spending and contracts. Tory contracts handed out by Tory Ministers to Tory peers and Tory friends—[Interruption.] That money belongs in our schools, in our hospitals—[Interruption.]

    Madam Deputy Speaker
    (Ms Nusrat Ghani)
    Order. It is so noisy in here we can barely hear the Chancellor. Everybody needs to calm down.

    Rachel Reeves
    I would not want any hon. Member to miss this. We are chasing down that money and have almost £400 million back from dodgy pandemic spending and contracts. Tory contracts handed out by Tory Ministers to Tory peers and Tory donors. That money belongs in our schools and in our hospitals, and we are getting it back.

    Finally, we are ramping up sanctions on Russia and freezing known Russian assets. Let me be clear, I do not mean the hon. Member for Clacton (Nigel Farage). Under the Conservatives —[Interruption.]

    Madam Deputy Speaker
    Order. We do not need commentary from the Back Benches. Mr Dewhirst, you are so loud; it is remarkable how far your voice carries.

    Rachel Reeves
    Under the Conservatives, the cost of our welfare system increased by nearly 1 percentage point of GDP—equivalent to £88 billion in just five years. The broken welfare system that we inherited wrote off millions of people as too sick to work. We will reform that system, so that it is a system that does not count the cost of failure, but rather one that protects people who cannot work and empowers those who can.

    We have brought back face-to-face assessments for disability benefits—those are the face-to-face assessments that the shadow Chancellor, the right hon. Member for Central Devon (Sir Mel Stride), got rid of when he was Work and Pensions Secretary. Our changes to universal credit will get 15,000 people back into work—a figure confirmed today.

    The former Heath Secretary, Alan Milburn, will review the causes of rising youth inactivity, and we are already taking action. I am grateful to the Federation of Small Businesses and Small Business Britain for their representations on apprenticeships, and today I am announcing funding to make the training for under-25 apprenticeships completely free for small and medium-sized enterprises. I am funding our new youth guarantee, providing £820 million over the next three years to give the young people who were let down by the Conservatives the support and opportunity they deserve, guaranteeing every young person a place in college, an apprenticeship or personalised job support. After 18 months, 18 to 21-year-olds will be offered paid work, not benefits.

    The Motability scheme was set up to protect the most vulnerable, not to subsidise the lease on a Mercedes-Benz, and so I am making reforms that will reduce generous taxpayer subsidies. Motability have confirmed that it will remove luxury vehicles from the scheme, getting the scheme back to its original purpose of offering cost-effective leases to disabled people.

    Taxpayers’ money should not be spent on pensions for people abroad who only lived here for a couple of years and may never have paid a penny of tax. The Conservatives allowed thousands of people living abroad to buy their way into the state pension for as little as £3.50 a week, debasing the purpose of our pension system. I will abolish access to class 2 voluntary national insurance contributions for people living abroad, increasing the time that someone has to live or work in Britain to 10 years, and increasing the contributions they must pay. These reforms improve our welfare system: they support our young people; protect those who need it most; and put an end to Conservative waste and unfairness.

    To break the cycle of austerity we need a fair and sustainable tax system, one that generates revenues to fund the public services we all use, and supports investment to grow our economy. That does mean that today I am asking everyone to make a contribution. The previous Conservative Government froze personal tax thresholds from 2021 until 2028. Today, I will maintain all income tax and equivalent national insurance thresholds at their current level for three further years from 2028—[Interruption.]

    Madam Deputy Speaker
    (Ms Nusrat Ghani)
    Order. The noise is far too high.

    Rachel Reeves
    The Leader of the Opposition supported these freezes when her party made them; she might want to forget about that, but the British people never will.

    At the same time, we are ensuring that people only in receipt of the basic or new state pension do not have to pay small amounts of tax through simple assessment from April 2027. I will also keep the plan 2 student loan repayments threshold at its 2026-27 level for three years.

    I know that maintaining the thresholds is a decision that will affect working people. I said that last year and I will not pretend otherwise now. I am asking everyone to make a contribution, but I can keep that contribution as low as possible because I will make further reforms to our tax system today to make it fairer, and to ensure the wealthiest contribute the most.

    The Conservatives knew that our tax system did not work. Time and time again, they ducked the necessary reforms, leaving a system unfit for a changing economy, with unfairness that they refused to address. Currently, a landlord with an income of £25,000 will pay nearly £1,200 less in tax than their tenant with the same salary, because no national insurance is charged on property, dividend or savings income. It is not fair that the tax system treats different types of income so differently, and so I will increase the basic and higher rate of tax on property, savings and dividend income by 2 percentage points, and the additional rate of tax on property and savings income by 2 percentage points. Even after these reforms, 90% of taxpayers will still pay no tax at all on their savings.

    I also believe that, as well as narrowing the gap between the tax on income from assets and income from work, a fair society is one where the wealthiest pay their fair share. The reforms I made last year will raise an additional £8 billion a year by 2030 from wealth. I increased taxes last year on private equity, private schools and private jets, and I abolished the non-dom tax regime. This year I will make two changes to cap trust charges and prevent avoidance. I reformed inheritance tax on agricultural and business assets and this year—[Interruption.] This year I am aligning those reforms with wider inheritance tax rules by allowing the transfer of the 100% relief allowance between spouses, balancing the taxation of these valuable assets with the realities of family life.

    In this Budget, I will take further steps to deal with a long-standing source of wealth inequality in our country. A band D home in Darlington or Blackpool pays just under £2,400 in council tax, nearly £300 more than a £10 million mansion in Mayfair, and so from 2028, I am introducing the high value council tax surcharge in England, an annual £2,500 charge for properties worth more than £2 million, rising to £7,500 for properties worth more than £5 million. This will be collected alongside council tax, levied on owners, and we will consult on options for support or deferral. This new surcharge will raise over £400 million by 2031 and will be charged on less than the top 1% of properties.

    Reliefs in our tax system cost the taxpayer billions of pounds a year, but many of them no longer serve their original purpose. The Government rightly provides generous tax relief for people paying into a pension, relieving income tax on all contributions and on the investment itself, as well as national insurance relief on employer contributions, at a cost of over £70 billion a year to the Exchequer. This Budget makes no changes to those reliefs or to the tax-free lump sum.

    However, salary sacrifice for pensions, which was intended to be a small part of our pensions system, is forecast almost to treble in cost to other taxpayers, from £2.8 billion in 2017 to £8 billion by 2030, with the greatest benefit going to the highest earners, or to those in the financial services sector putting their bonuses into pensions tax-free, while those on the minimum wage or whose employers do not offer salary sacrifice do not benefit at all. That is not sustainable for our public finances, putting pressure on the tax that everyone else pays.

    I am therefore introducing a £2,000 cap on salary sacrifice into a pension, with contributions above that taxed in the same way as other employee pension contributions. It is a pragmatic step so that people, especially on low and middle incomes, can continue to use salary sacrifice for their pension without paying any more tax than they do now.

    To give individuals and employers time to adjust to these new arrangements, these changes will come into effect in 2029.

    The coalition Government introduced 100% relief from capital gains tax on business sales made to employee ownership trusts, creating a route for gains to go completely untaxed when businesses are sold. I will reduce that relief to 50%, retaining a strong incentive for employee-owned companies. As we work towards doubling the size of the co-operative economy, the Department for Business and Trade will launch a call for evidence on how we can better support co-ops to grow. As a result of the changes that I have made to capital gains tax this year and last year, receipts are forecast to increase from £14 billion this year to £30 billion by 2030.

    To support our high streets, I am announcing a package of regulatory changes, as called for by UKHospitality and the British Retail Consortium. I will support the great British pub through our new national licensing framework, encouraging councils to back our pubs and to back late-night venues with greater freedoms. For business rates, I will introduce permanently lower tax rates for over 750,000 retail, hospitality and leisure properties—the lowest rates since 1991, paid for through higher rates on properties worth more than £500,000, such as the warehouses used by online giants. Alongside this, I will introduce a package of support worth over £4.3 billion over the next three years for a property of any size seeing a large increase in their bill. To support a level playing field in retail, I will stop online firms from undercutting our high street businesses, by ensuring that customs duty applies on parcels of any value.

    I will reform our motoring taxes, exempting search and rescue vehicles from vehicle excise duty, as called for by my hon. Friends the Members for Na h-Eileanan an Iar (Torcuil Crichton) and for Whitehaven and Workington (Josh MacAlister). All cars contribute to wear and tear on our roads, so I will ensure that drivers are taxed according to how much they drive, not just by the type of car they own, by introducing the electric vehicle excise duty on electric cars. That will be payable each year alongside vehicle excise duty at 3p per mile for electric cars, and 1.5p for plug-in hybrids, helping us to double road maintenance funding in England over the course of this Parliament.

    Alongside that, I am providing support to boost our British car industry: increasing the threshold for the expensive car supplement on electric vehicles to £50,000, saving over a million motorists £440 a year; providing £1.3 billion additional funding for the electric car grant, extending it to 2030, taking total funding to £2 billion; and delaying changes to the employee car ownership scheme. In addition, we are investing a further £200 million to accelerate the roll-out of EV charging, as well as 100% business rates relief for EV charge points for the next decade, with thanks to my hon. Friend the Member for Camborne and Redruth (Perran Moon) for his representations on that policy.

    I will improve competition in our taxi industry by ending ride-hailing companies’ use of a discount scheme intended for coach tours, as called for by Steve McNamara, general secretary of the Licensed Taxi Drivers Association: legislating to restrict access so that everyone pays fairly, and protecting £700 million of tax revenue each year.

    I am responding to our consultation on landfill tax, and listening to representations particularly from our house building industry. I will not converge towards a single rate, but I will prevent the gap between the two rates from widening, to balance the need to address tax avoidance in the current structure. I will today publish Ray McCann’s report into the loan charge, along with the Government’s response, setting out a new settlement opportunity that will finally allow people to finalise their position and draw a line under this long-standing issue. I thank my hon. Friend the Member for Milton Keynes Central (Emily Darlington) for her representations on this subject.

    I will continue with the planned uprating for tobacco duties that I set out last year, and uprate alcohol duties by inflation, alongside our plans to introduce a vaping products duty in 2026, and the changes to the soft drinks industry levy announced by my right hon. Friend the Health Secretary yesterday. I thank the Exchequer Secretary to the Treasury for his work on all the tax measures in this Budget.

    I will also reform gambling taxes in response to the rise in online gambling. Remote gaming is associated with the highest levels of harm, and so I am increasing remote gaming duty from 21% to 40%, with duty on online betting increasing from 15% to 25%. I am making no change to the taxes on in-person gambling or on horseracing, and I am abolishing bingo duty entirely from April next year. Taken together, my reforms to gambling tax will raise over £1 billion per year by 2031.

    As a result of the tax reforms I have made today, I can confirm that I will not be increasing national insurance, the basic, higher or additional rates of income tax, or VAT. I have kept everyone’s contribution as low as possible, through reforms to make our tax system stronger, closing loopholes, ensuring that the wealthiest pay their share, and building a tax system that is fairer for the future as our economy changes.

    On the day I became Chancellor, I said that I would judge my time in office a success if I knew that ordinary children from working-class backgrounds were living more fulfilling lives—their horizons expanded; their potential realised. I joined the Labour party, I came into politics, because I believe that every child has equal worth and deserves an equal chance to achieve their promise. The biggest barrier to equal opportunity is child poverty, because for every child that grows up in poverty, our society pays a triple cost.

    The first and heaviest is to the child: going to school hungry; waking up in a cold home, or in another B&B. While other children enjoy the advantages of parents with time to help with homework, or a quiet space at home to work in, too many go without. There is also the cost of supporting a family in poverty, which ends up in the lap of overstretched councils that can do no more than shunt them into temporary accommodation, at huge cost to local taxpayers. Then there is the future cost to our economy and our society, of wasted talent, and a welfare system that bears the cost of failure for decades to come: young people with so much to contribute, but whose potential is suffocated early by limited life chances and missed opportunities, struggling to make their way in a society that did not look out for them.

    I do not intend to preside over a status quo that punishes children for the circumstances of their birth and demands that we all pay three times over for it. Since last July, we have rolled out free breakfast clubs in schools, and we are expanding free school meals to half a million more kids, lifting 100,000 children out of poverty as we do it. We have passed the Renters’ Rights Act 2025, and we have extended the childcare offer.

    I am proud of all that, but it is not enough, because there is one policy that pushes kids into poverty more than any other. It was introduced by the Conservatives. They said it would save money, and that it would bring about “behavioural change”, disincentivising poorer families from having more children. Even on its own terms the policy failed: the welfare bill has continued to rise, and there has been no difference in the size of families. What it has done since it was introduced is push hundreds of thousands of children into poverty. They said they were punishing parents’ choices, but it is the kids who have paid the price.

    They have paid the price for the policies of a party that opted for cynical gimmicks over real savings in our welfare system.

    I understand that many families are finding times hard, and that many have had to make difficult choices when it comes to having kids. There are many reasons why people choose to have children and then find themselves in difficult times: the death of a partner, separation, ill health, a lost job. I do not believe that children should have to bear the brunt of that.

    And neither can I in good conscience leave in place the vile policy known as the rape clause, which requires women to prove their child has been conceived non-consensually, to receive support. I am proud to be Britain’s first female Chancellor of the Exchequer and I take the responsibilities that come with that seriously. I will not tolerate the grotesque indignity to women of the rape clause any longer. It is dehumanising, it is cruel and I will remove it from the statute book.

    So because I am tackling fraud and error in our welfare system, cracking down on tax avoidance and reforming gambling taxation, I can announce today, fully costed and fully funded, the removal of the two-child limit in full from April. [Interruption.] It is amazing what people get so angry about. We have seen the Conservatives’ true colours today—the thing they get angry about is lifting children out of poverty—[Interruption.]

    Madam Deputy Speaker
    (Ms Nusrat Ghani)
    Order. Our constituents want to hear the Chancellor.

    Rachel Reeves
    I think our constituents have heard all they need to from Conservative Members today. We on the Labour Benches do not believe that the solution to a broken welfare system is to punish the most vulnerable. We are lifting 450,000 children out of poverty with the end of the two-child limit. Combined with other actions that we are taking, this Labour Government are achieving the biggest reduction in child poverty over a Parliament since records began. That is the difference that this Labour Government are making.

    I know how worried families are about the cost of everything. They are worried that their money will not stretch to the end of the month—

    Nigel Huddleston
    (Droitwich and Evesham) (Con)
    Just increase tax.

    Rachel Reeves
    I think if you have a house that is worth £5 million, then you can probably afford it, but Conservative Members get more exercised about reducing child poverty than they do about the richest paying more.

    Under this Government, wages have risen by more since we were elected than in 10 years under the last Government, with lower interest rates already saving families £1,200 a year off a typical new mortgage. Compare that to when Liz Truss was Prime Minister. But I know that people still face pressure on their budgets, day to day and week to week, and where there is more we can do to provide relief, we are doing it: extending the bus fare cap, cracking down on rip-off price hikes, freezing prescription charges and freezing rail fares for the first time in 30 years.

    I am increasing the basic and new state pension by 4.8%, an increase of £440 per year for the basic state pension and an increase of £575 per year for the new state pension, in line with our commitment to the triple lock. At the election, we promised a genuine living wage and we are delivering it. At the Budget last year, I increased the national minimum wage and the national living wage, and I am doing the same this year too. I am accepting the recommendations of the Low Pay Commission in full and increasing the minimum wage for 18 to 20-year-olds from £10 to £10.85 per hour, and increasing the living wage from £12.21 to £12.71 per hour.

    Under current plans, the temporary 5p cut to fuel duty that was introduced during the pandemic will come to an end in April and fuel duty will be uprated in line with inflation. But I know that the cost of travelling to and from work is still too expensive, so I am extending the 5p cut until September 2026. Because I know that changes in wholesale prices are not always passed on to motorists, I am bringing in new rules to mandate petrol forecourts to share real-time prices through a new fuel finder, empowering drivers to find the cheapest fuel, calling out rip-offs and strengthening competition, saving the average household £40 a year.

    One of the greatest drivers of the rising cost of living is energy prices. The cause of high energy bills must be tackled at source, and so we are investing in energy security—in nuclear and renewable energy—and in insulation through the warm homes plan, but that is not enough when people are struggling with energy bills today. The Conservatives’ energy company obligation scheme was presented as a plan to tackle fuel poverty. It costs households £1.7 billion a year on their bills, and for 97% of families in fuel poverty, the scheme—get this—has cost them more than it has saved. It is a failed scheme, and so I am scrapping it, along with taking other legacy costs off bills.

    As a result, I can tell the House today that for every family we are keeping our promise to get energy bills and the cost of living down, with £150 cut from the average household bill from April next year—money off bills and in the pockets of working people. That is my choice, not to neglect Britain’s energy security, like the Tories did, and not to leave working families to bear the brunt of high prices, like the Tories did, but to get energy costs down now and in the future. That is the Labour choice.

    And, Madam Deputy Speaker, one more thing: because of our action on bills and on prices, as a direct result of this Budget, the Office for Budget Responsibility confirmed today that inflation is coming down faster and will be a full 0.4 percentage points lower next year. That is the benefit of a Labour Government cutting the cost of living.

    This Labour Government are changing our country. In the face of challenges on our productivity, I will grow our economy through stability, investment and reform. I have met my fiscal rules and built our economic resilience for the future. I have asked everyone to contribute—yes—for the security of our country and the brightness of its future, but I have kept that contribution as low as possible by reforming our tax system, making it fairer and stronger for the future.

    I have protected our NHS, maintaining public investment and driving efficiency in government spending. I have taken action on our broken welfare system, rooting out waste and lifting children out of poverty. And I have cut the cost of living, with money off bills and prices frozen, all while keeping every single one of our manifesto commitments—[Interruption.]

    Madam Deputy Speaker
    (Ms Nusrat Ghani)
    Order. Mr Rankin and Ms Morton, your voices carry right across the Chamber—try to take a breath every so often.

    Rachel Reeves
    Those are my choices, not austerity and not reckless borrowing, but cutting the debt, cutting waiting lists and cutting the cost of living. Those are Labour choices, promised and delivered by this Budget—promised and delivered by this Labour Government. I commend this statement to the House.

    Provisional collection of taxes

    Motion made, and Question put forthwith (Standing Order No. 51(2)),

    That, pursuant to section 5 of the Provisional Collection of Taxes Act 1968, provisional statutory effect shall be given to the following motions:—

    (a) Stamp duty reserve tax (UK listing relief) (motion no. 60);

    (b) Rates of tobacco products duty (motion no. 65).—(Rachel Reeves.)

    Question agreed to.

  • Andy Burnham – 2025 Comments on Tourist Tax

    Andy Burnham – 2025 Comments on Tourist Tax

    The comments made by Andy Burnham, the Mayor of Manchester, on 25 November 2025.

    It’s great news that the Government is committing to giving regional mayors the powers to introduce a visitor levy – a measure we have long called for. Greater Manchester already has a thriving visitor economy, and a visitor levy will help us sustain good growth over the next decade.

    I’m proud that nearly two million people from all over the world choose to visit Greater Manchester every year. The money they spend contributes about £9 billion annually to our economy, supporting over 100,000 jobs. The levy will allow us to invest in the infrastructure these visitors need, like keeping our streets clean and enhancing our public transport system through later running buses and trams, making sure every experience is a positive and memorable one.

  • Dan Jarvis – 2025 Speech on Cyber Threats

    Dan Jarvis – 2025 Speech on Cyber Threats

    The speech made by Dan Jarvis, the Security Minister, in London on 24 November 2025.

    It’s great to be here with you all today. 

    I’m also really pleased that the invitation for today’s conference actually reached you, and didn’t fall into your email’s junk folder. 

    But if you are here because you picked up this invitation in your spam, I just want to be crystal clear – we are not giving away a free Lamborghini at today’s event.

    Hopefully everybody is connected to the wifi, and if you’re not, the password is very simple to remember.

    It’s the full text of the Magna Carta in Latin.

    Anyway, it’s great to be able to welcome you all to the House of Commons. 

    But at first glance, it may seem like Parliament and Cyber are two mutually exclusive concepts. 

    Our democracy has – historically – been very wary of new technologies.

    There was a Parliament Technology Gap from when an innovation was created until it was introduced in Parliament. 

    First, the printing press.

    From the 1480s, printing became more common in this country. Thomas Hansard began printing Parliament’s debates independently in 1811 and it took a select committee in 1909 to adopt Hansard’s innovation as a legitimate part of their service. 

    A Parliament Technology Gap of about 400 years. Not a great start.  Next, broadcast cameras and microphones, which came into use in the early 1900s.

    Initially, the BBC couldn’t broadcast anything said in either House until two weeks after it had been discussed.  But eventually, cameras entered Parliament by 1989. A Parliament Technology Gap of about 90 years – so something of an improvement.  

    Finally, the personal computer and the internet – which became commonplace from the late 1970s. Parliament was again slow to take up the benefits of IT. 

    One MP, during a debate in 1988, said “the technological revolution – of which we are so proud in Britain – seems to have passed Westminster by”.

    From 1994, every MP with a personal computer was given internet access. A Technology Gap of only 20 years – the best yet. 

    And what about the technology of the future?

    Now, much like Steve Jobs and black rollnecks, Parliament and tech are now becoming inseparable.

    Parliament is more proactive. Its ‘Information and Technology Strategy’ faces the future stating how Parliament must continually adapt to the evolving landscape. 

    This is exactly the right approach to take. 

    The pace of change is only accelerating and the speed in which new technology is introduced and adopted is becoming shorter and shorter. So, we must protect ourselves against the threats of tomorrow. 

    Because cyber-attacks taking place across the world are only getting worse.

    If cybercrime were a national economy, it would be the third largest in the world.

    Microsoft’s Digital Defence Report said that – by 2027 – scams are expected to cost the world $27 trillion a year.

    As a joint Minister between the Cabinet Office and the Home Office, I have heard from my policing colleagues about the sometimes unseen cyber offending. Some that are central to truly awful online crimes.

    Like those that hack into accounts to steal and then trade intimate images mostly of women and children. 

    Or the community groups that blur boundaries between cyber and violence in the most despicable way. 

    These are growing trends and of deep concern, all of which show that our collective exposure to serious impacts is growing at an unprecedented pace.

    This is especially true when it comes to our world-leading business sector. It is essential for every organisation to operate in a way that minimises the risks of a cyber incident.

    The mindset for businesses should not be ‘if’ we get attacked but ‘when’ we get attacked. That means our cyber defences and technical resilience must evolve to cope with the threat.

    Which is why we’re doing more than ever before to keep our businesses and society safe from cyberattacks and cybercrime. 

    And we’re doing that through the building we’re all in today.

    Just a couple of weeks ago, the Cyber Security and Resilience Bill was introduced to Parliament.

    It will boost cyber protections for the services that people and businesses rely on every day. And it will ensure any breaches in cyber security are dealt with quickly.

    This is a vital piece of work, as is our Counter Political Interference and Espionage Action Plan.

    Because we know that Parliament is also a target, which is why we are taking this decisive action against foreign interference and espionage operations.

    The Action Plan will strengthen our legislation to disrupt the threat, help those who work in politics to recognise, resist and report the threat, and help break down the ecosystem of proxy organisations used by foreign powers to target our democratic institutions.

    We’re also giving more direct support to businesses to make sure they remain safe.

    The new tools we have created through the National Cyber Security Centre will help every kind of business, from the SME with a handful of employees, to larger corporations with hundreds of staff. 

    Our ‘Cyber Action Toolkit’ that we launched last month is designed to empower sole traders and small businesses to take their first steps toward cyber protection. 

    Our ‘Cyber Essentials’ certification proves your organisation is protected against common cyber threats.

    And over 13,000 organisations are part of the free ‘Early Warning’ service, giving them exclusive access to information on potential cyber-attacks. 

    All of this work will be enhanced next year when we publish the new National Cyber Action Plan. 

    It will outline how we will continue to build resilience and combat the technological threats facing us to secure economic growth.

    And, of course, it’s vital that the police, National Crime Agency, and our security services continue to work together so we can ruthlessly pursue and disrupt these cyber threats. 

    These criminals need to know we will use all of the tools at our disposal to counter their activity.

    We must support our businesses in any way we can. But businesses cannot be protected by the government alone. 

    Which is why last month, a letter was sent to the CEOs of the FTSE 350 companies that implored those business leaders to recognise the threat that is facing them.

    Now, today I’m talking to some great leaders from our tech sector – a sector that knows the importance behind rigorous security. 

    And I believe we are staring at a potential win-win situation for us if our business leaders increase their cyber security, working alongside the innovative UK cyber industry that brings in over £13billion in revenue. 

    Because this should be a priority for everyone driven at board-level, and I implore any business leader who thinks they may be exempt from gripping cyber risks to think again.

    Perhaps the Parliament of the past was right. 

    They could more or less evade utilising technology and, by doing so, they could keep their discussions mostly private and keep the country running. 

    That is not an option open to any of us today. Technology enhances everything we do. 

    It keeps our democracy transparent, it keeps our businesses successful, it keeps people connected and safe. 

    But this interconnection between technology and society can be exploited by those who seek to cause us harm.

    Many of you in this room lead by example.

    Our tech sector is one of the most crucial chips in the economy’s motherboard. One that takes its cyber security seriously.

    I hope that, through Government support and their own initiative, that the rest of our business leaders follow in your footsteps. 

    Thank you very much.