Speeches by Reeves.

“Last time she stood up in the Chamber, the hon. Lady said that she wanted a 10p cut in fuel duty; now it is a 12p cut. What she has failed to explain is how on earth she is going to pay for any of those policies. As a former Chancellor, the right hon. Member for Godalming and Ash (Sir Jeremy Hunt), has just explained, …”

“We are on the right path with the right economic plan. Unemployment is down, the economy is growing, interest rates have been cut six times, and last year Government borrowing was lower than it was the year before and is set to fall by more than in any other G7 economy. At the same time, the Government are acting respo…”

“The best thing we can do as a Government is to keep inflation and interest rates down. Since I became Chancellor, wages have risen faster than prices in every single month, giving people more money to spend, and interest rates have been cut six times—which will benefit all of our constituents, but those in London perha…”

“My hon. Friend is absolutely right. This is not our war—we chose not to join it, unlike the Conservative and Reform parties, which were egging us on to do so. However, we do need to become less exposed to global fossil fuel markets. That is why we passed the Planning and Infrastructure Act 2025, which will enable us to…”

“I welcome the fact that the hon. Lady and her party opposed the war and did not want the UK to become involved, unlike the Conservatives and Reform. However, I find what she has just set out fundamentally economically illiterate. The idea that a great fiscal policy is to close the strait of Hormuz! Why did we not think…”

“In Northern Ireland and across the country, people got £150 off their energy bills in April, and of course Northern Ireland was the biggest beneficiary of the support for heating oil—that support went disproportionately to Northern Ireland, given its greater reliance on heating oil compared with the rest of the country…”

“More than one third of that support for energy bills went to the top third of households. That makes no sense at all, especially when those households then end up being burdened with higher interest rates on their mortgages, higher inflation in the shops, and higher taxes for years to come. The right approach is a targ…”

“I thank the Chair of the Energy Security and Net Zero Committee for that question, and for his important work on this issue. There are two ways to reduce the number of days in which the gas price sets the electricity price. First is to invest more in home-grown renewables and in nuclear, so that more of the mix is made…”

“With permission, I will update the House on the spring meetings of the International Monetary Fund and the continued action that the Government are taking to strengthen our economic and energy security in response to the conflict in the middle east. We did not start this war and we did not join this war, but since the …”

“That response exposes a shadow Chancellor who is out of credible ideas. I was sad to read in the weekend’s newspapers that once again, he is being lined up for the sack by the Leader of the Opposition, but to be honest, after his performance today, I can understand her choice. The shadow Chancellor talks about the IMF.…”

“When the previous Government intervened in the case of an energy price shock, more than a third of the benefit went to the top third of income earners. That makes no sense at all when Government resources are stretched and when it resulted only in higher interest rates, higher inflation and higher taxes for the exact s…”

“As the hon. Gentleman knows, the Government are a big supporter of our airports and the aviation sector. That is why we are backing a third runway at Heathrow, a second runway at Gatwick, as well as expansion at Stansted and Luton airports. We are in regular contact with the aviation sector. It is currently not reporti…”

“My hon. Friend is absolutely right that we need a balanced energy policy. While some parties oppose renewables, some parties oppose nuclear and some parties—oh, they have gone—oppose any oil and gas, this Government have a balanced energy policy. We are investing in new nuclear—small modular reactors and Sizewell C; we…”

“My hon. Friend makes a good point. There are a couple of things we are doing today to make it more cost-effective to get an electric vehicle. First, the decoupling of gas and electricity prices will mean that electricity prices will not be set by high gas prices. That reduces the costs of filling up an electric vehicle…”

“I agree with the hon. Lady about decoupling. We are using an increase in the electricity generator levy to bring in money immediately and to incentivise companies to move on to contracts for difference. In terms of having to pay when solar and wind cannot be used, what the hon. Lady says would be a little more plausibl…”

“I thank my hon. Friend for that question, and I understand the concerns that families and businesses have about the cost of energy and the risk of second-round effects if those costs are passed on to other goods and services in the economy. That is why my focus is on keeping interest rates and inflation down for everyb…”

“In the past two weeks, we have announced up to 25% off energy bills for 10,000 manufacturers, starting this month. Today, we have announced tiebacks to exploit more of our energy resource in the North sea, which has been welcomed by OEUK, and we have announced an increase in the electricity generator levy to bring in m…”

“It was great to meet Rolls-Royce apprentices with my hon. Friend in Downing Street last week to see what difference this Government’s investment in small modular reactors through the National Wealth Fund will make. The investment in nuclear is creating good jobs that pay decent wages, providing export opportunities thr…”

“I join the hon. Gentleman in paying tribute to Pakistan for the work that it is doing to de-escalate this conflict by hosting peace talks. I would expect all Members of the House to urge all parties to return to those negotiations as quickly as possible, so that we can end the bloodshed but also ensure that bills come …”

“Investment in nuclear and renewables can ensure security of supply, and security of price. Investment in fossil fuels cannot secure security of price, because that price is determined by international markets. A third of power is electricity that is not covered by a contract for difference. We are trying to get that on…”