Spring Forecast Debate

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Department: HM Treasury

Spring Forecast

Graeme Downie Excerpts
Tuesday 3rd March 2026

(1 day, 8 hours ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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As the hon. Gentleman knows, we are conducting a review of how the Valuation Office Agency calculates business rates, including for our hospitality sector. The last time that the Liberal Democrats were in office and they had a choice over VAT policy, they increased it from 17.5% to 20%. I am not sure why the public should believe that this time it would somehow be different.

Graeme Downie Portrait Graeme Downie (Dunfermline and Dollar) (Lab)
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I thank the Chancellor for acknowledging the incredible contribution of the workforce at Rosyth to the roll-out of the Type 31 frigate last week. I also thank her for the ongoing investment in energy infrastructure, particularly as we see increasing challenges in the middle east coming towards energy bills. May I ask her to ensure, as she has up to now, that we keep an eye on that situation involving energy bills and, whenever possible, that we invest both for our future energy security and to help people in the short term when that is necessary?

Rachel Reeves Portrait Rachel Reeves
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It was a real honour for me to be able to visit my hon. Friend’s constituency and see the Type 31 frigates being built there. This Government are investing in defence, and in the skills of our young people so that they can get the jobs in these expanding sectors—unlike the SNP Government in Scotland, who are not investing in our young people. Too many defence companies are having to bring in labour from abroad because of the SNP’s dislike of defence spending.