Replacement of the Chancellor of the Exchequer

Lord Sikka Excerpts

Tuesday 18th October 2022 Lords Chamber

[Lord True (Con)]

No. A number of very important steps have been taken by my right honourable friend the Prime Minister to which your Lordships are invited to assent. Yesterday, for example, I was very grateful for your Lordships’ support for the Bill that was passed that concerned reversing the national insurance levy, and I am hoping for equal support for my right honourable friend’s initiative in relation to the Energy Prices Bill.

[Lord Sikka (Lab)]

My Lords, the Government’s austerity policies have already caused over 334,000 deaths. Why is the Government looking for further cuts in public spending?

[Lord True (Con)]

My Lords, I realise the economic stable from which the noble Lord came, but the central responsibility for any Government is to do what is necessary for economic stability, and that means that there will need to be reflection on levels of both spending and taxation. As my right honourable friend has made clear, there will be difficult decisions, there will need to be spending restraint, and departments will need to find further efficiencies, but more details will be set out in the medium-term fiscal plan, as I said earlier.