Spring Statement

Debate between Max Wilkinson and Rachel Reeves

Wednesday 26th March 2025 Commons Chamber

[Rachel Reeves]

What it would mean for people in Kettering and around the country if we had continued under the plans of the previous Government is that interest rates would have remained high, inflation would have remained high and growth would continue to flatline, whereas the OBR today has forecast that real household disposable incomes will rise, growth will be higher and living standards will be higher because we have returned stability to the economy and we are backing the builders, not the blockers. [Interruption.]

[Max Wilkinson (Cheltenham) (LD)]

I do not wish to interrupt the discussion on the Front Benches. I have another opportunity for the Chancellor. In Cheltenham, we have a scheme that can produce jobs and growth and will support the defence industry: the Golden Valley development next to GCHQ, which will be a key part of this country’s defence investment over the coming years. Will the Chancellor take it upon herself to work with Ministers in other Departments who already know about that to ensure that we get the investment that we deserve and that GCHQ workers deserve too?

[Rachel Reeves]

I am proud of what GCHQ does to keep our country safe. Part of what we are doing around the defence budget, above the lift to 2.5%, is including some of the work of the Security Service that, increasingly, is crucial for our national security and defence. That is on top of the 2.5%. As we protect defence spending, it is right that we take into account GCHQ and other security agencies as well. I am very happy to work with the hon. Gentleman to ensure that we maximise the benefits for so many constituencies, including Cheltenham.