Public Finances: Borrowing Costs Debate

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Department: HM Treasury

Public Finances: Borrowing Costs

Sally Jameson Excerpts
Thursday 9th January 2025

(1 day, 14 hours ago)

Commons Chamber
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Darren Jones Portrait Darren Jones
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As I have said, it seems that the Conservative party is proud of its record on austerity. We do not support austerity, which was blind ideological cuts to public services—3% cuts—irrespective of the outcome for the people who rely on public services. The Chancellor increased investment in public services at the Budget in the autumn, and we will continue to increase investment in them, because we need to get them back on their feet, and they are an important foundation for economic growth. I am pleased that the right hon. Gentleman recognises my statements, and says that they are honest, because of course they are. I look forward to coming back to the House in future months and years to show him the progress that the Government are making.

Sally Jameson Portrait Sally Jameson (Doncaster Central) (Lab/Co-op)
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It is a relief for me and my constituents in Doncaster Central that we finally have a Labour Government providing economic stability and investing in the industry of the future. [Interruption.] It is all right for Conservative Members to chunter, but after the mess they made, a period of silence on their part is warranted. Will my right hon. Friend lay out the action that he will take to ensure that all regions of the country, including places like Doncaster and South Yorkshire, benefit from growth?

Darren Jones Portrait Darren Jones
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My hon. Friend is right to point out that the Government are in the service of working people. What does that mean? It means that people’s lives—the money they have in their pocket, and the ability to pay the bills, get a roof over their head and seek opportunity—are at the very heart of what it means to be in the Labour party and in this Labour Government. Conservative Members might not have suffered from higher mortgage bills or worried about the cost of living during their supermarket shop each month, but people across the country did, and they suffered as a consequence of the Conservatives’ behaviour. I welcome my hon. Friend’s comment that they should have a period of silence while they learn the lessons.