Forthcoming Fiscal Changes Debate

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Department: HM Treasury

Forthcoming Fiscal Changes

Lord Fox Excerpts
Tuesday 25th November 2025

(1 day, 2 hours ago)

Lords Chamber
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Lord Livermore Portrait Lord Livermore (Lab)
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I 100% agree with my noble friend. Defence spending and growth go hand in hand. We will see far higher levels of growth in our economy as a result of the investment we are putting into our defence industry and increasing the security of our country.

Lord Fox Portrait Lord Fox (LD)
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My Lords, looking back rather than forward, it is quite clear that UK business cannot take another Budget like the last one. I was reminded by the introduction of our new and very welcome Peer of the apocryphal medical ethical oath. Could the Minister please carry back to the Chancellor one thing: do no harm?

Lord Livermore Portrait Lord Livermore (Lab)
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I am grateful to the noble Lord for that. As he knows, I am not going to comment on specific measures or any speculation ahead of the Budget. I have set out clearly what our priorities are for tomorrow’s Budget; he will just have to wait a few more hours until he finds out for himself.