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Lord Livermore (Lab)

Speaking in the House of Lords on 1 June 2026

Debate

Middle East: Economic Response

Contribution

I am grateful to the noble Lord for his question, but I am slightly mystified by his saying that he has raised it before and that it has not been answered. I think I have addressed it every time he has raised it in this House. He asks me the same question every time, and I think I have answered it every time. The OBR’s forecast measures GDP per capita. We draw attention to that, and it fell under the last Parliament of the previous Government. That was a big driver of the cost of living crisis. It is currently forecast to rise by 4% in this Parliament. The Government put great score by this, as it is very important that we see GDP per capita rising. I think I have said that to the noble Lord many times, so I agree with him. It is rising in this Parliament and it fell under the previous Government. That is very important. Living standards have risen faster in the first 10 months of this Government than they did in the first 10 years of the previous Government, so it is something that we are very focused on.

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