Rachel Reeves

Rachel Reeves

Labour — Leeds West and Pudsey

Speaking in the House of Commons on 3 March 2026

Debate

Spring Forecast

Contribution

It is not Shakespeare, but I always say, “Save the best till last.” If we can spend less money on paying the interest on debt, we will have more money to spend on our NHS, on our defence and on keeping taxes down. That is only possible if we return stability to the economy, and the OBR forecast shows that we have the right plan. Inflation and interest rates are coming down, while Government borrowing costs, Government borrowing and Government debt are on a downward path. That compares with the situation under the previous Government, who lost control of the public finances and, as a result, lost control of family finances. In 18 months, we have begun to turn that around. Is there more to do? Absolutely—but we have started on that course. If we stick to the plan, the prize at the end is huge.

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