Spring Statement Debate

Full Debate: Read Full Debate
Department: HM Treasury
Wednesday 26th March 2025

(6 days, 12 hours ago)

Commons Chamber
Read Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
Rachel Reeves Portrait Rachel Reeves
- View Speech - Hansard - - - Excerpts

When I became Chancellor, I inherited from the Conservative party a £22 billion black hole, which we have taken action to address. I would say to the right hon. Lady’s constituents that they will now see a doctor or nurse more quickly than under the last Government, because NHS waiting lists have fallen for five months in a row.

John Slinger Portrait John Slinger (Rugby) (Lab)
- View Speech - Hansard - -

Does my right hon. Friend agree that the main contrast between this Government and the last one is strength versus weakness? They were too weak to crack down on wasteful spending, to address the tax breaks and loopholes for the wealthy, and to take on the blockers in the planning system. Does she further agree that while the Conservatives—the party of vested interests—seek to conserve what has failed, this Labour Government have the strength to take the tough, long-term decisions to build a better and much fairer Britain?

Rachel Reeves Portrait Rachel Reeves
- View Speech - Hansard - - - Excerpts

Today, the OBR has scored some of our planning measures, which will make the economy £6.8 billion bigger by the end of the Parliament, contributing £3.4 billion to our public finances and services. That is possible only because we are taking on the vested interests, and are getting Britain building by backing the builders, not the blockers. We are the Government increasing defence spending to 2.5% of GDP. The Tories had 14 years to do that, but they failed. This Labour Government have done that in our first year.