Public Spending: Inheritance
Debate between Natasha Irons and Rachel Reeves(2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Rachel Reeves
When I arrived at the Treasury three weeks ago, I asked Treasury officials to do a full analysis. We concluded that analysis over the weekend and I am publishing it today for the House of Commons.
Natasha Irons (Croydon East) (Lab)
I thank the Chancellor for the urgent update. With living standards now worse than when the previous Government took office, people across the country continue to suffer the consequences of their broken promises and mismanagement, but this final fiscal mic drop is truly shocking. Does she agree that, in contrast to the unfunded fantasy promises put forward by the Conservative party, Labour’s manifesto showed cast-iron discipline in being fully costed?
Rachel Reeves
I thank my hon. Friend for the question. Everything in Labour’s manifesto was fully costed and fully funded. We now know that on top of the £22-billion black hole that the previous Government left, they made unfunded commitments during the election. That was deeply irresponsible and the country was right to reject them.