B

Baroness Smith of Basildon (Lab)

Speaking in the House of Lords on 2 September 2026

Debate

Direction of Government

Contribution

I am grateful to the noble Lord and thank him for his comments, which were in marked contrast to those of his leader, who did not think that we should have been saying some of these things. He makes a valid point, but as soon as you get into speculating about one area of the Budget or another—“Can you rule this out, can you rule that in?”—there is a problem. One of the reasons that the Government have brought the Budget forward is to limit that speculation period, so that things will be clear as soon as possible. If you listen to the interview that I heard this morning, one of the greatest problems that is affecting gilt and other markets is how much speculation happens in terms of asking the Government to rule things in or out. I hope to see the noble Lord here on 28 October, when there will be a debate in this House following the Budget, but I think the Government are right to bring it forward to avoid, as much as possible, the kind of speculation the noble Lord is talking about.

More from Baroness Smith of Basildon (Lab)

Other recent Hansard contributions by the same speaker.

About Hansard

Hansard is the official verbatim record of proceedings in the UK Parliament. Every word spoken in the Commons and Lords is recorded and published — this page is a single contribution from that record.