Spring Statement

Debate between Rachel Reeves and Graham Stuart

Wednesday 26th March 2025 Commons Chamber

[Rachel Reeves]

I was pleased to note in my statement that Thanet has already come forward with plans to build affordable housing under the affordable housing plan, for which I set out more money. Opposition parties that abstain or vote against the Planning and Infrastructure Bill are voting against homes for our constituents and jobs for our young people. On the Government side of the House, we back the builders, not the blockers. We back opportunities for young people and housing for our constituents. It is a shame that those parties do not do the same.

[Graham Stuart (Beverley and Holderness) (Con)]

The Chancellor claimed that growth was her top priority, yet she has taken the fastest-growing economy in the G7 and brought it to a shuddering halt. She promised that there would be no tax rises, but next week’s jobs tax will put tax rises on ordinary working people. Today, she has cut the housing numbers by 200,000 and put up borrowing by £18 billion in the next two years. Is it not time that the Prime Minister invited the Chancellor next door and said, “Rachel, you’re fired”?

[Rachel Reeves]

The plans that we inherited from the previous Government saw the OECD forecast that the UK would have the slowest growth in the G7 this year. It is now forecasting us to have the second-highest growth. That is the difference that this Labour Government are making, moving us up the league tables.

Oral Answers to Questions

Debate between Rachel Reeves and Graham Stuart

Tuesday 29th October 2024 Commons Chamber

[Rachel Reeves]

I can understand the hon. Member’s concern, but of course, that £1.5 billion was already baked into the forecast—it is not new money to spend on initiatives. As she knows, we inherited a £22 billion black hole in the public finances; we will set out the detail of that at the Budget tomorrow, but because of that, we have had to make very difficult choices. Even in those difficult circumstances, though, we have protected the winter fuel payment for the most vulnerable pensioners who are on pension credit. We have also boosted the uptake of pension credit, so that people get the support they are entitled to.

[Graham Stuart (Beverley and Holderness) (Con)]

Residents of Joseph Rowntree’s St Ellens Court all gathered recently to tell me about the devastating impact that the cut in the winter fuel payment will have on their living standards, and people in Withernsea gathered Saturday last to demonstrate against it. Tomorrow, the Chancellor can do the right thing; will she?

[Rachel Reeves]

I am sure the right hon. Gentleman told them about the £22 billion gap in the public finances that his Government left, which has required the difficult decisions this Government have had to make to clean up the mess left by the Conservative party.

Public Spending: Inheritance

Debate between Rachel Reeves and Graham Stuart

Monday 29th July 2024 Commons Chamber

[Rachel Reeves]

Far be it from me to give advice to Tory leadership contestants, but if I were taking part in this contest, I would want to distance myself as much as possible from the Government in the previous Parliament who caused this terrible mess.

[Graham Stuart (Beverley and Holderness) (Con)]

The Chancellor committed to long-term planning for capital expenditure. Last March, the then Chancellor committed £20 billion to carbon capture, usage and storage, without which a net zero future cannot be delivered. In the light of the right hon. Lady’s review, can she set out for the House what commitment this Government will make to investment, including to that £20 billion for CCUS?

[Rachel Reeves]

We have already created a national wealth fund, which will leverage in billions of pounds of private sector investment, including in carbon capture and storage, as well as green hydrogen and renewable-ready ports. We will set out all our spending in the spending review later this year.