Rachel Reeves

Rachel Reeves

Labour — Leeds West and Pudsey

Speaking in the House of Commons on 21 April 2026

Debate

Middle East: Economic Update

Contribution

The best thing we can do as a Government is to keep inflation and interest rates down. Since I became Chancellor, wages have risen faster than prices in every single month, giving people more money to spend, and interest rates have been cut six times—which will benefit all of our constituents, but those in London perhaps most of all, given that house prices are more expensive in places such as Twickenham—putting more money in people’s pockets. Today’s announcement about the British industrial competitiveness scheme will take up to 25% off energy bills for 10,000 businesses from this month, and decoupling will help all businesses with their energy costs. The electricity generator levy will bring in money this year, and then the new contracts for difference will reduce volatility and price spikes for all businesses.

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