Public Finances: Borrowing Costs

Lord Foulkes of Cumnock Excerpts

Thursday 9th January 2025 Lords Chamber

[Lord Livermore (Lab)]

I repeat to the noble Lord what I said in my opening remarks. Financial markets are always evolving, so it is a long-standing convention that the Government do not comment on specific financial market movements. I will not break that convention today. Financial market movements, including changes in government bond or gilt yields, which represent the Government’s borrowing costs, are determined by a wide range of international and domestic factors.

[Lord Foulkes of Cumnock (Lab Co-op)]

My Lords, the Minister quite rightly said that the Opposition, when in government, had been irresponsible in their economic policies, but does he not agree that their unfair and unjustified criticism of this Government is equally irresponsible and unhelpful?

[Lord Livermore (Lab)]

I am happy to agree with my noble friend that any criticism of this Government is unhelpful.