L

Lord Fox (LD)

Speaking in the House of Lords on 30 October 2025

Debate

Public and Private Sector Productivity Trends

Contribution

My Lords, in 1964 the then Labour Government sought to separate the Treasury into two pieces: one to look after the short-term fiscal tax-raising element and one to look at economic development. The same tension exists today. Can the Minister tell your Lordships how the Treasury is balancing them? At the moment, it looks as if short-term fiscal concerns are outweighing long-term economic needs.

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