Office for Budget Responsibility Forecasts

Mike Wood Excerpts

Monday 1st December 2025 Commons Chamber

[James Murray]

I have taken part in a number of debates in this Chamber and in Westminster Hall on the changes to APR and BPR that the Government introduced at the Budget last year. We have debated the figures extensively. Some of the difference in people’s figures stems from the fact that we are talking about estates, which is the right measure when we are talking about inheritance tax, rather than the value of farms themselves. I also hope that the hon. Lady will have seen the change we made to the system at this Budget through the spousal transfer.

[Mike Wood (Kingswinford and South Staffordshire) (Con)]

As the Chief Secretary to the Treasury will know, the “Ministerial Code” requires Ministers to be

“as open as possible with Parliament and the public”.

Exactly when did the Chief Secretary learn that the Chancellor did not face the shortfall that the Treasury was briefing to the press?

[James Murray]

As a Treasury Minister, I have obviously been involved in discussions with the Chancellor and the Prime Minister’s team throughout the Budget process. We developed these policies collectively to cut the cost of living, cut NHS waiting lists and cut Government borrowing.