Speeches by Reeves.

“We always keep all taxes under review, but it is much too early, when those changes are not due to come into effect until September, to guess where petrol prices will be then. I am very loath to spend Government money on something that the market should be doing itself. That is why greater competition and greater trans…”

“Something that lends to sovereigns and companies—yes.”

“That is what we have said: we keep all taxes under review.”

“Yes. We are absolutely looking at a whole range of issues, where allies can work—”

“As former Chancellor Jeremy Hunt said in the Chamber on Monday, it is much too soon to be speculating about what action is going to be needed.”

“We have to make sure that we have a system that works, but we are committed to do that.”

“Well, obviously it was a Budget decision to do the threshold changes, wasn’t it, so—”

“AI is already having a big effect on the economy. Some of the real-time data show that productivity has actually been pretty strong in the last year or so. We are still working through the numbers, as are other economists, but part of that will reflect a greater use of technology and AI in the economy, whether that is …”

“But there are also thousands and thousands of jobs being created every single day.”

“The Office for Budget Responsibility in their current forecast do expect it to not apply from Q3 next year. As David Miles and Tom Josephs said to the Committee yesterday, if this de-escalates, there is no reason why the forecast might not be correct for next year, in which case the energy profits levy falls away. That…”

“We have put £39 billion into building more social and affordable housing in this Parliament. There is no lack of ambition from this Government in realising the benefits of those investments.”

“We wanted to make sure that we understood the skills and the qualities that we were looking for in a new chair.”

“And also your experience about your friend in Afghanistan. It is important that we learn the lessons from the past. One of the reasons why we chose not to be involved in the US action a week and a half ago was because of some of those lessons from the past. I think it is important to be cognisant of those lessons when …”

“As you know, G7 Finance Ministers met on Monday, G7 Energy Ministers met yesterday, and today leaders will meet. We had the head of the International Energy Agency at the meeting that I attended on Monday. They are consulting with members right now on the release of strategic oil reserves. I have been very clear that t…”

“The conflict in the middle east affects all of us, and I understand the anxiety felt by families and businesses. Rapid de-escalation in the middle east is the best way to protect businesses and working people from rising costs, which is why I continue to work closely with G7 colleagues to call for immediate de-escalati…”

“Some people have short memories, haven’t they, Mr Speaker? I remember the Conservatives freezing those thresholds on a number of occasions. We said in our manifesto that we would not increase the headline rates of national insurance, VAT and income tax that working people pay, but I did say clearly at the Budget last y…”

“Debt is lower in every year of the forecast that I published last week than it was in the plans that I set out in the Budget just back in November. The fiscal rules that I introduced in the October after I became Chancellor said, first of all, that we had to balance day-to-day spending with tax receipts, and that is im…”

“I absolutely agree with my hon. Friend. The price gouging that we see is totally unacceptable, which is why we have already asked the Competition and Markets Authority to look at this. Whether we are talking about petrol at the pumps or heating oil, there is no excuse for any business to use this as an opportunity to r…”

“I agree with the hon. Gentleman. We are trying to de-escalate the conflict in the middle east, because if we can get vessels moving again through the strait of Hormuz, we will deal with a lot of these problems. I am working closely with both Lloyd’s of London—I met its representatives yesterday—and my G7 colleagues to …”

“My hon. Friend is a powerful advocate for the energy-intensive industries, and for manufacturing more widely. The supercharger is being extended from April this year. That will help 500 of the most energy-intensive businesses, and increase their discount from 60% to 90%—and next year, the BIC scheme comes in. Given wha…”