Oral Answers to Questions

Damien Egan Excerpts

Tuesday 3rd September 2024 Commons Chamber

[James Murray]

Let me be clear: if we do not have fiscal responsibility—if we do not stick to fiscal rules—we will lack the economic stability that is so crucial to getting the economy growing and ensuring that people across Britain are better off. We must return stability and fiscal responsibility to our country following the Conservative Government’s record. We saw what happened when they lost control of the public finances and made unfunded spending commitments. We need to ensure that that never happens again, which is why we are hardwiring fiscal responsibility into the future of government through our new Budget Responsibility Bill.

[Damien Egan (Bristol North East) (Lab)]

9. What progress she has made on increasing economic growth.

[Catherine Fookes (Monmouthshire) (Lab)]

22. What progress she has made on increasing economic growth.

[The Chancellor of the Exchequer (Rachel Reeves)]

Sustained economic growth is the only route to improving the prosperity of our country and the living standards of working people. That is why we have already taken a number of actions to begin delivering on our growth mission —the No. 1 priority of this new Labour Government—which includes a series of planning reforms to get Britain building; the establishment of a national wealth fund to bring in private sector investment; the announcement of a pensions review to unlock growth, boost investment and deliver better returns to pensioners; the launch of Skills England; and the announcement of the forthcoming White Paper on getting Britain working again. This Government are determined to boost growth and improve living standards, and, by doing so, to have the money that we need to fund our vital public services.

[Damien Egan]

The delivery of so much of what the Chancellor describes runs through local government. What progress has been made on giving local councils longer-term funding settlements?

[Rachel Reeves]

My hon. Friend is absolutely right to make that point. The Government are committed to delivering longer-term certainty for local authorities, as part of our wider commitment to a more empowered, accountable and sustainable local government system that will support strong public services in all our communities. The Government will set out further details on our plans for local government funding in the upcoming Budget and spending review on 30 October.