James Murray

James Murray

Labour (Co-op) — Ealing North

Speaking in the House of Commons on 12 November 2025

Debate

Taxes

Contribution

The hon. Gentleman said “the Chancellor’s fiscal rules”, so I suspect that it was the Chancellor who introduced those fiscal rules. He gave it away in how he phrased the question. The point is that when the Chancellor was setting out her economic strategy at the Budget last year, it was on the basis of the fiscal rules: day-to-day spending to be paid for through tax receipts rather than borrowing and debt to be falling as a proportion of GDP, to enable investment in the long-term future of the country. I see that the hon. Member for Runnymede and Weybridge (Dr Spencer) is struggling to get his head around why that sense of fiscal reality and credibility is important, but we on the Government side believe that having those fiscal rules is crucial to that fiscal stability, to ensuring that we have that responsible attitude in government and to providing the stability for businesses to invest and grow the economy.

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