Spring Statement

Debate between Lord Livermore and Lord Razzall

Thursday 27th March 2025 Lords Chamber

[Lord Livermore (Lab)]

I do not know whether the OBR has set that out in it forecast, but I will be happy to go away and look at that for the noble Lord, if that is helpful. Clearly, a central part of our growth strategy is investment, which creates jobs right across the country. We have already seen many jobs being created in this economy, since we came to office, as a result of various investments right across the country. As I have discussed already, the additional investment in defence spending will see very highly skilled jobs created across the country. However, I will happily find out the specific breakdown for the noble Lord.

[Lord Razzall (LD)]

My Lords, there are clearly a number of lessons to be learned from the Spring Statement, but I will draw two quite serious ones: an omission and a failure of communication. Turning first to the serious omission—noble Lords who know me will expect me to say this—this was an opportunity to attempt to improve our relations with the European Union, given the benefit that it would have for trade and growth, as my noble friend Lady Kramer indicated. I would welcome the Minister giving somewhat more extensive comments on that when he responds.

The second is the failure of communication. There is no doubt whatever that the problems around the Welfare Reform Act in this area have become far too high. The Economic Affairs Committee of your Lordships’ House, on which I have the honour to serve, looked at that several months ago and concluded that the structure and incentives are wrong and that something needs to be done about it. How did the Government manage to implement a potentially very successful reform in such a disastrous manner? They have all the disability charities down their throats and the noble Lord, Lord Lamont, complaining about it. How did they manage that?

[Lord Livermore (Lab)]

I am not sure that I liked the last part of the noble Lord’s question there. On our relationship with the EU, I am not sure that the Spring Statement is necessarily the place in which you update every single part of the Government’s policies. The Government are engaged in a reset of our relationship with the European Union. Anyone who has heard me speak in this House will know that I have very clear views on the economic impact of the previous Government’s Brexit deal; it reduced our GDP permanently by 4%. So, when we have a conversation about growth, we have to take that into account. That is exactly why the Government are engaged in resetting our relationship with the European Union. We have set out ambitious proposals for increasing our trade relationships and improving our security co-operation with the European Union. This Chancellor was the first to address European Finance Ministers since Brexit and this Prime Minister was the first to address his European colleagues since Brexit. This is a very serious set of proposals and we are taking it forward at pace. We are ambitious, even though we know that it will take time.

The welfare reforms were set out by the Secretary of State for Work and Pensions in the House of Commons last week. She said that the figures were subject to final costings by the OBR. The Chancellor came to the House yesterday and updated those costings.

Tax Reliefs: Theatre, Orchestra and Museums and Galleries Exhibition

Debate between Lord Livermore and Lord Razzall

Tuesday 15th October 2024 Lords Chamber

[Lord Livermore (Lab)]

Clearly, the Government recognise the importance of the arts to our public life and support the funding of the arts at the appropriate level. Unfortunately, I will have to say that the Government will set out their plans for supporting the arts in the coming spending review.

[Lord Razzall (LD)]

My Lords, I am absolutely delighted to join in a Question from the noble Lord, Lord Parkinson, because it gives me the opportunity to thank him from our Benches for the collegiate way in which he conducted himself as a DCMS Minister.

Bearing in mind the Minister’s commitment earlier, will he give any indication as to whether at yesterday’s investment conference there were any more commitments to put money into the film industry, or indeed the arts, apart from M&G’s investment in a new film project? Does he recognise that there remains an issue around the visual effects tax relief, which was announced in 2023 but for which implementation was stalled by the election? What is the status of this important tax relief? It is obviously vital to ensure that as much post-production work as possible stays in the United Kingdom.

[Lord Livermore (Lab)]

I am grateful to the noble Lord for mentioning the investment summit yesterday, when the Government were able to announce a total of £64 billion of investment into the UK economy. That was a vote of confidence in this Government’s handling of the economy and the fact that our economy is now open for business. On the specific tax relief that the noble Lord mentioned, I am afraid that I cannot comment on speculation about any specific taxes ahead of the Budget.