Spring Forecast Debate

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Department: HM Treasury

Spring Forecast

Manuela Perteghella Excerpts
Tuesday 3rd March 2026

(1 day, 9 hours ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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Oil and gas will play an important part in our energy system for many years to come, including oil and gas from the North sea, but we do need to improve our energy security. That is the lesson from Ukraine that this Government are addressing by investing in small modular reactors at Sizewell C, but also investing in wind farms and solar farms, because we have got to wean ourselves off foreign oil and gas and prices that are dictated by international markets. That is why we are investing in clean energy, and what we are seeing unfolding in Iran and elsewhere in the middle east shows how necessary those policies are.

Manuela Perteghella Portrait Manuela Perteghella (Stratford-on-Avon) (LD)
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A large part of my constituency’s economy depends on hospitality, tourism and our independent high streets. Those who run pubs, cafés, arts venues, restaurants and hotels are telling me that they are being squeezed from every direction, by higher employer national insurance, rising energy bills, and uncertainty over business rates relief. Does the Chancellor understand the damage that this is doing to communities like mine, and will she commit today to proper business rates reform and targeted support for hospitality and leisure?

Rachel Reeves Portrait Rachel Reeves
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The best thing we can do to support our high streets and small businesses is ensure that more people have more of their money in their pockets to spend not on the essentials but on the things that they want to do—for instance, in local shops in the hon. Lady’s constituency. That is why we are taking £150 off people’s energy bills, have frozen prescription charges, and are freezing rail fares.