Speeches by Coghlan.

“Even though your own report says that it has long-term effects.”

“Am I interpreting this document wrongly then, given what you are saying?”

“It is the “Dynamic scoring of policy measures in OBR forecasts” from 9 November 2023. It assumes a fiscal multiplier of zero for public investment in year 5.”

“Professor Miles, we spoke about the difficulty for the Government of numbers moving rapidly. There is a major concern for me: I was looking at your dynamic policy scoring document for 2023. If I understand it correctly, the OBR does not score any fiscal multipliers from year five onwards. They assume that Government po…”

“I thank the right hon. Member, a colleague on the Treasury Committee, for giving way. I agree with many of the things he is saying, but does he not agree that the Conservative party also has considerable responsibility for this situation, through Brexit?”

“In February, Louise Holmes took me to her restaurant HolmeStores in Dorking, which was especially popular for brunch. It had fantastic food and a beautiful wood-panelled interior. Louise had 12 employees and was thinking about a second site, but she could not afford the employers’ national insurance increase, so today …”

“I thank the hon. Member for giving way. She is a colleague with me on the Treasury Committee. In terms of the Government delivering hope, a key part of the Government’s economic forecasting comes, of course, from the Office for Budget Responsibility. A lot of what has driven the Budget today is the £16 billion producti…”

“Professor Leunig, on the natural experiment point under covid, is that true? Part of the incentive during covid was that it was time-limited.”

“In my constituency, in Bookham, access to the train to London is via an uneven path through the woods. Network Rail has not prioritised accessibility upgrades. Does the hon. Member agree that the Government must do more with accessibility schemes, like those he just mentioned?”

“Even though in 2010 there were 1.6 million special needs children and there are 1.7 million now?”

“Are you worried at all that the scrapping of Sure Start, with all the evidence that early intervention is very effective in terms of childhood outcomes, combined with the education reforms that, absolutely right, raised educational standards as a whole, but had an increased focus on test taking, may have harmed the chi…”

“I want to ask the same question to you, Mr Osborne. I am particularly interested in the decision to dismantle Sure Start, if you could cover that in your answer.”

“Do you have any regrets about the policies that you implemented in coalition? Are there things you would advise the Chancellor to do differently?”

“You made a very interesting point about the lack of projects to invest in. Given the negative real interest rates you experienced at the time, was that a key missed opportunity to invest, or was it more a lack of projects?”

“Given what you have just said, and what you said earlier about US productivity greatly increasing relative to the UK and Europe, do you think the lack of public investment under the coalition was part of that issue?”

“Mr Osborne, do you think the Government have the right approach to public investment? Should they be increasing it or putting it in different areas?”

“Mr Osborne, in the spring statement, the Chancellor was able to upgrade GDP by £11 billion a year, using the uplift in defence spending, based on a fiscal multiplier of 1.6. That comes from Paolo Surico on how you can use defence R&D to raise economic growth. I say that because on the way in here I listened with intere…”

“Defence R&D is a form of public investment, but more broadly, you said earlier that the Chancellor was getting it right in terms of increasing public investment. Do you think that the Government is putting enough money into public investment? I am thinking particularly of the cuts under the coalition.”

“A new consolidated UK sanctions list will go live in January 2026. What preparations has the Treasury made for potential disruption to firms’ sanctions screening?”

“I guess at the moment the jury is very much out on those professional bodies. In 2026, it will have been 10 years since the Treasury’s Office of Financial Sanctions Implementation was established. Are any changes needed to OFSI and HM Treasury’s financial sanctions implementation powers?”