"The noble Lord pointed to some forecasts that are being made, but he then drew the wrong conclusion. I point him to the conflict going on in Iran: that is not a war that we started, but it will affect us. As I have already said, we went into this …..." Lord Livermore - View Speech
"Clearly, we need a welfare system that works. No one believes that the system that we inherited is working. It abandoned too many people to a life on benefits, wrote off too many people as too sick to work and condemned too many children to be too poor to eat. …..." Lord Livermore - View Speech
"I absolutely confirm to the noble Lord all three of those points. As he knows, the price cap is giving households certainty on their bills until July, ahead of the winter months. As we respond to this crisis, we must absolutely learn from the mistakes of the past, some of …..." Lord Livermore - View Speech
"The noble Baroness is absolutely right to point to the need for economic resilience. As she knows, we must do more on economic security so that the UK does not continue to be more exposed to energy price shocks than our counterparts are. Since the election, we have invested in …..." Lord Livermore - View Speech
"Yes, and we are doing most of that, but the noble Baroness is opposing most of it. She said that we need to pursue a growth path. She will know that one of the most important things for growth is keeping inflation and interest rates as low as possible, but …..." Lord Livermore - View Speech
"My noble friend is absolutely right. The economy, at the time of the spring forecast, showed that we are well placed going into this conflict. Inflation was at 3% and is set to fall to target—a much lower starting point than when Russia illegally invaded Ukraine. Borrowing was set to …..." Lord Livermore - View Speech
"I am very happy to agree with the noble Lord on the first part of his question: as I have said already, GDP per capita at the time of the spring forecast was forecast to rise by 5.6% over this Parliament. That compares with a fall of 0.2% in the …..." Lord Livermore - View Speech
"No, I do not think she is, because the spring forecast showed precisely that: that Britain is well placed to weather this conflict. Inflation was at 3% and it was set to fall to target; borrowing was set to fall more over this Parliament than in any other G7 economy; …..." Lord Livermore - View Speech
"My Lords, we did not start this war, but it affects us. The IMF’s updated forecasts build on its judgment that the UK is more exposed to energy price shocks than our counterparts—a problem this Government are tackling but which the previous Government failed to address in 14 years. The …..." Lord Livermore - View Speech