L

Lord Livermore (Lab)

Speaking in the House of Lords on 10 July 2025

Debate

Tax Increases

Contribution

In the spending review, the Government set out our spending plans and a fully funded path to spending 2.6% of GDP on defence. We have an ambition to increase it to 3% in the next Parliament, as the noble Lord knows. I will not speculate on the next Budget now. As I have said, there will be an OBR forecast in the autumn before the annual Budget and we will make decisions based on it, in the usual way.

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