Speeches by Reeves.

“Of course we look at what we think the growth impacts of different policies will be but, as I said, we do not prioritise things based on whether we think the OBR will take them into account; we prioritise them based on the impact that we think they will have on growth. Certainly, those three trade deals—with more to co…”

“That is not the case.”

“Of course there are always other options available. There are a number of policies leading up to the Budget that we cost. As the Prime Minister has been clear—”

“Headroom went as low as £6.5 billion in the last Parliament. I built it up to £9.9 billion in my Budget last year and in the spring statement. I felt that that was the right approach, but obviously since then we have had a number of global shocks, whether shocks to trade, ongoing conflicts or disruptions to supply chai…”

“The approach in the Budget provides significant support for low-income households, taking an average of £150 off people’s energy bills from April next year, freezing rail fares and prescription fees for a year, and expanding the free childcare offer. The steps that I have taken as Chancellor, including the removal of t…”

“My hon. Friend may know that about 4,000 children in his constituency will benefit from the removal of the two-child benefit limit. That means 4,000 more children being able to go to bed in houses that are not cold and damp and waking up in the morning and being able to have breakfast, and parents being able to afford …”

“The number of jobs has increased by 329,000 this year. That is the record of this Government in getting people back into work. The youth guarantee is dealing with the fact that when we took office last year, one in eight young people were not in education, employment or training. That is the Conservatives’ record; this…”

“Through the financial inclusion strategy led by the Economic Secretary to the Treasury, we are extending Help to Save within the universal credit system, and working with banks and building societies. I know that, as a Labour and Co-operative MP, my hon. Friend works closely with the co-operative movement and with buil…”

“Since the Budget, the Co-op has cut or frozen the prices of 2,700 essential products at a cost of £1 billion, recognising the impact that the cost of living still has on families, but also reflecting the Budget package that supports our high streets, including our supermarkets.”

“The Office for Budget Responsibility has estimated that productivity will be 4% lower than it would have been had the UK not withdrawn from the EU. However, alongside the trade deals struck with the US and India, the Government are resetting our relationship with the EU to get better deals on, for example, food and far…”

“The Office for Budget Responsibility has produced an independent analysis and confirmed that it believes that 4% is the correct number, and the OBR continues to maintain that in its forecasts.”

“Since we came to office last year, we have reset our relationship with the EU, which is why last May we agreed with the EU an expansive set of changes to our relationship, including on food and farming, on electricity and energy trading, and on youth mobility and Erasmus. We are taking all that forward, but at the same…”

“Transport costs represent 14% of household spending, so the Government took decisive action in the Budget to freeze all regulated rail fares in England for one year from March 2026—the first time that has happened in 30 years.”

“rose—”

“I just want to talk about Stevenage, Mr Speaker. The Government’s action is saving commuters in Stevenage £285 a year on the cost of a five-day season ticket. With the uplift of £120 billion in capital spending, the Government have also committed to the sorts of projects that my hon. Friend mentions, particularly aroun…”

“In Tonbridge, as elsewhere, regulated fares will be frozen for a year from March next year. I know that many of the right hon. Gentleman’s constituents commute into central London every day, and our rail fares freeze will mean that commuters in Tonbridge and all our constituencies have a bit more money in their pockets…”

“Covid fraud and error under the previous Government’s mismanagement cost the taxpayer £10.9 billion. They played fast and loose with the public purse and left the front doors wide open to fraud. That is why I have appointed a covid corruption commissioner to carry out the independent review. This Government are doing e…”

“I could not agree more. The previous Government failed to protect public money, while this Government have generated around £400 million by getting money back. We all know what happened: the Tories dished out contracts to their friends and donors—money that never belonged to them. This Government will leave no stone un…”

“No.”

“In its spring statement, the OBR was clear that productivity was coming in lower than forecast, and it was clear that it was reviewing that over the summer. The numbers that the OBR has since published showed that in the final pre-measures forecast the fiscal headroom was just over £4 billion. I was clear in my speech …”