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Lord Livermore (Lab)

Speaking in the House of Lords on 11 June 2025

Debate

Economic Growth

Contribution

I am grateful to the noble Lord for eventually getting to his question, but I am sorry that he chose to talk down the economy in the way that he did. I remind him that, when this Government took office, the UK was ranked seventh out of seven G7 economies projected for 2025. We currently have the fastest-growing economy in the G7. He talked about a report; let me give him another report. When the IMF last week upgraded the UK’s growth forecasts, it said that the Government’s fiscal strategy was striking a good balance between supporting growth and safeguarding fiscal sustainability, that the growth mission focuses on the right areas to lift productivity, and that our spending plans are credible and growth-friendly—spending plans that his party opposes. His party has opposed every single measure that we have taken to grow the economy.

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