Spending Review 2025
Debate between Rachel Reeves and Robin Swann(3 weeks, 1 day ago)
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Rachel Reeves
The work that this Labour Government are doing will reduce inequality. We are giving a pay rise to millions of workers and creating defence jobs that pay a decent wage, and GB Energy will be headquartered in Scotland. Today I have been able to announce additional investment in the seafront in my hon. Friend’s constituency, which will bring economic benefits.
Robin Swann (South Antrim) (UUP)
An NHS fit for the future—I congratulate the Chancellor and the Health Secretary on the investment in the health service in England. Given the money that has been allocated to Northern Ireland, will the Chancellor encourage the Executive to provide the same investment in the health service in Northern Ireland? The Executive have been working with single-year budgets since 2016. Does the Chancellor agree that this SR allows them to set a multi-year, recurrent budget that allows the transformation of health services and other public services in Northern Ireland?
Rachel Reeves
The hon. Gentleman makes a really important point. What we did today was not just set out money for next year; we have set out money for day-to-day spending for the next three years, and for capital spending for the next five years. Wherever people are in the UK, it is vital that local councils, the devolved Administrations and community groups can plan for the future with confidence. That is what we have done with this spending review, and I urge the devolved Administrations to do similar and make multi-year settlements in order to give certainty for the future.
Spring Statement
Debate between Rachel Reeves and Robin Swann(3 months, 1 week ago)
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Rachel Reeves
Just two week ago, I was able to announce £2 billion extra for UK Export Finance specifically to help defence companies in the UK to export. As countries around the world, particularly in Europe, increase defence spending, I want to ensure that we get those contracts here in Britain to support our proud defence industry, including in places such as Livingston and Rosyth, where I met Babcock just a couple of weeks ago.
Robin Swann (South Antrim) (UUP)
The Chancellor’s statement referred to people who were listening. The president of the Ulster Farmers Union was in the Public Gallery to hear her statement, which did not reference agriculture or farming at all. It talked about the country’s security and safety, but there was nothing on food safety. It spoke of not writing off a generation of young people, but her family farm tax will write off a generation of young farmers. What confidence can she give our agricultural sector?
Rachel Reeves
With specific reference to agricultural property relief, people will not pay extra tax unless they have a farm worth around £3 million. More than two thirds of farms are not affected at all by the changes in that relief. For those who do pay the tax, it is at half the rate that anybody else pays, and they can pay it, interest-free, over a period of 10 years. That is very different from the inheritance tax bills that anybody else pays.