Spring Forecast
Debate between Rachel Reeves and Andrew Lewin(2 days, 18 hours ago)
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Rachel Reeves
To help the generation that my hon. Friend speaks about, we have introduced the Renters’ Rights Act 2025, and we are also bringing down interest rates and inflation. That makes it easier to get on the housing ladder but also, crucially, reduces the interest rates on both plan 2 student loans and other students loans, the threshold for which was frozen for 10 years under the previous Government.
Andrew Lewin (Welwyn Hatfield) (Lab)
On days like this, I am particularly grateful that NHS waiting lists are falling. Although it seems a long time ago that we heard from the shadow Chancellor, I was very concerned about his blood pressure; he is no longer in his place, so I hope he has gone to get that checked.
It is important that we take a breath and look at what the economy is actually doing. Borrowing is down, inflation is down and headroom is up. I particularly welcome today’s news from the OBR that investment in housing, as part of the economy, is up. Does the Chancellor agree that we need to continue to invest in housing to make sure that people’s aspirations to buy their own home are supported by this Government?
Rachel Reeves
My hon. Friend is right about the shadow Chancellor’s blood pressure—but, frankly, I am worried about his future employment prospects.
NHS waiting lists are falling because of the money that we have put in, but my hon. Friend makes a point about overall investment in the economy. After lagging behind pretty much every other advanced country in the world, since the general election we have had the fastest investment growth in the G7.
Spending Review 2025
Debate between Rachel Reeves and Andrew Lewin(8 months, 3 weeks ago)
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Rachel Reeves
The investment we are putting into Derby and Nottinghamshire is significant, with small modular reactors, investment in defence and investment in fusion, creating good jobs and paying decent wages right across the east midlands. I do not think that taxpayers’ money should be used to pay for asylum hotels, which is why we are reducing the cost of asylum accommodation by around £1 billion during the course of this Parliament and ending the use of asylum hotels.
Andrew Lewin (Welwyn Hatfield) (Lab)
It is a source of pride to see a Labour Chancellor announce such a transformative programme for social housing. My hope is that the boost to the affordable homes programme can be used to unlock stalled projects like those in Welwyn Garden City, in my constituency, where the Metropolitan Thames Valley development adjacent to the station needs to get motoring. I thank the Chancellor for her investment today. Does she agree that our message to councils and housing associations is, “We back you—now it is time for you to build”?
Rachel Reeves
The changes we have made to the planning system and the changes we are making through the Planning and Infrastructure Bill provide the opportunity to build. Today, we have backed those opportunities with money through the affordable homes grant to ensure that a good proportion of social and affordable housing is included in that, for all the reasons that hon. Members have mentioned. On the particular issue of housing around stations, there is huge potential there. The infrastructure is there—we want to have the housing there, too.