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Lord Livermore (Lab)

Speaking in the House of Lords on 8 July 2025

Debate

Government Performance against Fiscal Rules

Contribution

I slightly disagree with the noble Lord’s characterisation of the Parliamentary Labour Party, but I certainly agree with what he says about the fiscal rules. They are essential to maintaining our ability to invest in our public services. The second fiscal rule absolutely allows the additional investment into our public services, but, as he says and as I have said before, the previous Government doubled the national debt, and we have to fund that. The more that it looks like we will not, the harder it becomes. I give him that undertaking. Our commitment to the fiscal rules is non-negotiable.

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