Budget Resolutions

Debate between Lucy Rigby and Mark Francois

Thursday 29th October 2026 Commons Chamber

[Lucy Rigby]

Let me talk now about energy security, because it is part of our national security, too. We are reforming our energy system so that Britain is less exposed to volatility. We will freeze new policy costs on bills, pending a comprehensive cost control framework. We are accelerating investment in the grid and we are procuring clean power only where it lowers bills and can connect properly.

When it comes to our public services, this Government have stabilised spending after years of under-investment by the Conservative party.

[Mr Francois]

I am sure the right hon. and learned Lady can confirm to the House that she is a Treasury Minister. I have here the press release issued by—the Treasury—which says, “Exclusive. Chancellor John Healey tells Krishnan Guru-Murthy Labour will not bring welfare bill—”

[Mr Francois]

I apologise, Madam Deputy Speaker. I was reading the press release, but I accept your admonition.

Anyway, it says that the bloke who is in charge of the Treasury has told Krishnan Guru-Murthy that Labour will not bring the welfare bill down in this Parliament and the Economic Secretary to the Treasury—to give the right hon. and learned Lady her correct title—has just said that it will. Who is right? Is it the right hon. and learned Lady, or is it her boss? They cannot both be, can they?

[Lucy Rigby]

The Prime Minister confirmed earlier today that we will bring the welfare bill down as soon as possible. I am very happy to confirm that.

As the Chancellor said yesterday, when it comes to public services we will insist on reform, prioritisation and value for money. That is what resilience looks like: sound public finances, secure energy, strong defence and a state that is able to act when the country needs it to.

As hon. Members have made clear, including my hon. Friends the Members for Gloucester (Alex McIntyre), for Shipley (Anna Dixon) and for Leeds South West and Morley (Mark Sewards), the measures in the Budget will provide breathing room for families and businesses now, while also helping to bring bills down over the long term. We know that energy pressures are not just felt by families but by businesses, too. That is exactly why we are increasing the small business rate relief threshold for retail hospitality and leisure properties, taking around 70,000 more businesses out of business rates altogether. For other businesses in the sector, rates will be frozen in real terms for two years.

We are supporting high streets and the businesses that give them life. We are backing pubs, clubs and music venues. We are reducing the supply-side barriers that firms repeatedly tell us hold them back: energy costs, slow infrastructure decisions, red tape and access to finance. And because of our commitment to fiscal responsibility, all those measures are fully funded.