L

Lord Pitt-Watson (Lab)

Speaking in the House of Lords on 16 September 2026

Debate

Government Debt

Contribution

I have read that document. I point out that, in 2025-26, our borrowing will be the lowest for six years and for the first time since 2004 we are projected to borrow less than the OECD average. As regards external evaluation of the fiscal rules, I will read from the IMF’s 2025 Article IV report, which said that “the plans that have been put forward by the UK Treasury strike a good balance between providing favorable conditions for growth, and the emphasis on public investment is welcome in that regard and safeguarding fiscal sustainability”.

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