Mike Wood

Mike Wood

Conservative — Kingswinford and South Staffordshire

Speaking in the House of Commons on 26 November 2025

Debate

Budget Resolutions

Contribution

I think the hon. Lady is extremely brave to come to that point so early, given the levels that bonds are still trading at. The OBR report is clear that the extra cost of borrowing, which is not replicated in other major economies, amounts to an extra £3 billion a year by 2030—more than the OBR expected just in March. In short, we are paying what I understand the markets call a “moron premium” because of the Chancellor’s choices.

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