Spring Statement

John Glen Excerpts

Wednesday 26th March 2025 Commons Chamber

[Rachel Reeves]

My hon. Friend speaks powerfully on behalf of his constituents in Loughborough. The 1.5 million additional homes the Government are building will ensure that families in Loughborough have a chance of getting on the housing ladder and that young people in Loughborough will have the opportunities to help build those homes. That is the difference we are making: more jobs, paying decent wages, and more homes for our families.

[John Glen (Salisbury) (Con)]

I hope the Chancellor, next Wednesday in front of the Treasury Committee, will reiterate her commitment not to come back with more tax increases. On page five of the OBR report, paragraph 1.2 states:

“While the Government’s planning reforms deliver a modest boost to the level of potential output of 0.2 per cent in 2029, its cumulative growth between 2023 and 2029 is still ½ a percentage point lower than we projected in October, and the level of productivity is over 1 per cent lower.”

I would like to know what the Chancellor thinks about that, and can she confirm that the Employment Rights Bill has not been evaluated by the OBR?

[Rachel Reeves]

The key point in what the right hon. Gentleman says is that cumulative growth is lower from 2023 to the end of the forecast. Of course, this Government did not come into power in 2023; we came into power in July 2024. The OBR numbers show that the economy is bigger because of the changes we have made—it is just a difference in the dates. I look forward to coming to the Treasury Committee next week, and I am sure I will take more questions from the right hon. Gentleman then.