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Lord Livermore (Lab)

Speaking in the House of Lords on 12 June 2025

Debate

Spending Review 2025

Contribution

I agree very much with what my noble friend said to begin with about uncertainty. I think he was talking about the increasing global headwinds we face as a country when it comes to the economy and about the importance of stability; I completely agree with him. The IMF, for example, in its most recent report when it upgraded its forecasts for the UK economy, said that our fiscal strategy is striking a “good balance between supporting growth and safeguarding fiscal sustainability”, and that our “Growth Mission focuses on the right areas to lift productivity”. On spending, it concluded that our plans are “credible and growth-friendly”, and “are expected to provide an economic boost over the medium term”. I am afraid that I do not agree with the points my noble friend made on council tax towards the end of his question.

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