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Lord Livermore (Lab)

Speaking in the House of Lords on 2 September 2025

Debate

Gilt Yields

Contribution

I am grateful to the noble Baroness for her question. As she will know, recent gilt yield movements have risen in line with global peers, mainly driven by global factors. The recent gilt market moves have also been orderly. As she knows, our commitment to the fiscal rules is non-negotiable and we have a clear plan in place to put the public finances on a sustainable path and prioritise investment to support long-term growth. She talks about the position of the UK economy; she knows that this is an uncertain and volatile global economy, but even so the UK remains resilient and is outperforming our peers. The UK was the fastest-growing economy in the G7 in the first half of this year and our commitment to stability is paying off, creating space for the Bank of England to cut interest rates five times since the election, with business confidence now at its highest level for 12 months.

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