Government Debt

Lord Bishop of Hereford Excerpts

Wednesday 16th September 2026 Lords Chamber

[Lord Pitt-Watson (Lab)]

My noble friend Lord Barber is absolutely correct on this; indeed, he has huge expertise in the area. Too often all of us, from all parties, announce inputs and do not think about outputs. On the question of public sector productivity, I am not even sure that we measure outputs correctly.

[The Lord Bishop of Hereford]

My Lords, a recent report by the Institute for Public Policy Research projects that debt interest payments will increase from the current 10% of revenue to 20% by 2075. The decisions that we take today about taxation and spending should be taken with regard to our moral obligations to the generation that follows us. What assessment have the Government made of the extent to which today’s debt interest payments transfer the burden of current spending to future generations of taxpayers?

[Lord Pitt-Watson (Lab)]

There are numbers that can project out for 50 years and which would leave future generations with a potentially very large debt. They are, of course, extremely sensitive figures. The first thing that the Government have to do is to have the fiscal discipline that brings the debt down. As I said, last year we had the lowest borrowing for six years, and for the first time since 2004 we are projected to borrow less than the OECD average. I hope that is at least a start, and we can go on to think about where we go to 2070 as we move forward.

Grass-roots Music Venues

Lord Bishop of Hereford Excerpts

Monday 26th January 2026 Lords Chamber

[Lord Livermore (Lab)]

I am very grateful to my noble friend for the work he is doing in the review he mentions. I do not think it is for me to commit the Government to that specific point, but I will of course take it back and discuss it with colleagues in other departments as well.

[The Lord Bishop of Hereford]

My Lords, I thank the Minister for his answers. Across the country, churches provide the largest network of performance spaces available to professional and amateur groups for music making and other artistic endeavours, so I thank him for the recent announcement regarding the new places of worship renewal fund. But I am sure he will be aware that there are thousands of churches and other faith communities across the country waiting to know how that scheme will operate. Will the Minister let us know when the details of the scheme will be published and whether the Government will work with us to ensure the scheme is workable, consistent and fair, especially in the levying of VAT?

Budget: Press Briefings

Lord Bishop of Hereford Excerpts

Tuesday 18th November 2025 Lords Chamber

[Lord Livermore (Lab)]

The noble Lord is far more experienced in these matters than I am, but he will know very well that there is always speculation ahead of a Budget. I do not think there is anything unusual about that. I am slightly unclear whether I am being told that speculation is wrong or being invited to speculate. As I have been clear, I am not going to comment on the Budget process, on speculation ahead of the Budget or on any individual tax measures.

[The Lord Bishop of Hereford]

My Lords, over the last few months not only have the bond markets been affected by this speculation, but people have made life-changing financial decisions, in part fuelled by speculation rooted in private government press briefings. These decisions may prove to be unwise when the Government’s actual decisions are revealed. Have the Government considered other, less damaging means of gauging public opinion than fishing through the media?

[Lord Livermore (Lab)]

The right reverend Prelate says that the Government are the source for this speculation when he has no such evidence for that. I am not going to comment on the ongoing Budget process, as I say, nor on the speculation that is perfectly usual ahead of a Budget.