Darren Jones

Darren Jones

Labour — Bristol North West

Speaking in the House of Commons on 9 January 2025

Debate

Public Finances: Borrowing Costs

Contribution

My hon. Friend asks an important question. Why did we have to take that action? Why was this Government’s first Bill about fiscal responsibility? It was because of the mess that Conservative Members left this country in. That is why we have given the Office for Budget Responsibility stronger, independent powers of oversight in statute—something that the shadow Chancellor presumably welcomed, given his comments criticising Liz Truss and her Budget when he was Chair of the Treasury Committee. We brought that change forward, which the Conservative party failed to do. That is why we have set fiscal rules that are non-negotiable, why public services must live within their means, and why the Government’s absolute focus is on securing growth, investment, reform and long-term sustainability for public finances.

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