Ministerial statement on Tuesday, 28 April 2026, in the House of Lords, led by Lord Livermore.

Middle East: Economic Update

Lords statement 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.

Secondary information

Type: Parliamentary proceeding
Reference: 855 cc1084-1100
Session: 2024-26
Department: Treasury
Chamber / Committee: House of Lords chamber
Related items: Deposited Paper DEP2026-0343
Monday, 18 May 2026
Deposited papers
House of Lords
Proceeding contributions: Baroness Neville-Rolfe | 855 cc1087-1091 (Link to this contribution)
My Lords, the International Monetary Fund, in its latest World Economic Outlook, has warned that ...; Baroness Kramer | 855 c1091 (Link to this contribution)
My Lords, the impact of the Iran war has made previous economic forecasts pretty much redundant. ...; Lord Livermore | 855 cc1091-4 (Link to this contribution)
My Lords, I am grateful for the questions and comments from the noble Baronesses, Lady Neville-Ro...; Lord Clarke of Nottingham | 855 c1094 (Link to this contribution)
My Lords, one of the big problems that the Government faced when they took office was an unsustai...; Lord Livermore | 855 c1094 (Link to this contribution)
I am grateful to the noble Lord for his question. We are repairing the public finances. At the ti...; Lord Fox | 855 c1094 (Link to this contribution)
My Lords, returning to defence spending, the Minister referred to the biggest sustained increase ...; Lord Livermore | 855 c1095 (Link to this contribution)
Of course there are consequences; I agree completely with the noble Lord. He talks of a hypotheti...; Lord Bridges of Headley | 855 c1095 (Link to this contribution)
My Lords, in response to my noble friend Lord Clarke’s question, the Minister spoke of the cuts t...; Lord Livermore | 855 c1095 (Link to this contribution)
I do not have a crystal ball and I cannot look ahead to everything the Government will be doing, ...; Lord Redwood | 855 c1095 (Link to this contribution)
In Washington, the Chancellor pledged to avoid unnecessary trade restrictions. Can we look forwar...; Lord Livermore | 855 c1095 (Link to this contribution)
No, and I disagree with the noble Lord, as I am sure I do on many issues. He talks about trade re...; Lord Redwood | 855 c1095 (Link to this contribution)
Tariff free!; Lord Livermore | 855 c1095 (Link to this contribution)
It was estimated at the time to be costing us some 4%, subsequently estimated to be 8%, of GDP, s...; Lord Ahmad of Wimbledon | 855 c1095 (Link to this contribution)
My Lords, I declare my interest as a member of the International Relations and Defence Committee....; Lord Livermore | 855 c1096 (Link to this contribution)
I have the greatest respect for my noble friend Lord Robertson but I disagree with him. Looking a...; Lord Macpherson of Earl's Court | 855 c1096 (Link to this contribution)
My Lords, does the Financial Secretary agree that, rather than increasing revenues, an oil price ...; Lord Livermore | 855 c1096 (Link to this contribution)
I agree with the noble Lord on that point. He is far more expert in these matters than me and was...; Lord Howell of Guildford | 855 c1097 (Link to this contribution)
My Lords, as the Minister says, no one quite knows yet the impact, particularly on the oil and ga...; Lord Livermore | 855 c1097 (Link to this contribution)
I am particularly grateful to the noble Lord for his optimism, which is much needed at times. Let...; Lord Scriven | 855 c1097 (Link to this contribution)
My Lords, one of the implications of what has happened in the Middle East is that the United Arab...; Lord Livermore | 855 cc1097-8 (Link to this contribution)
The noble Lord is absolutely correct to say how important it is to do that. That is why we have t...; Baroness O'Grady of Upper Holloway | 855 c1098 (Link to this contribution)
My Lords, does my noble friend the Minister agree that conflict in the Middle East underlines the...; Lord Livermore | 855 c1098 (Link to this contribution)
I do agree with what my noble friend said. Already, even before this crisis, the damage that Brex...; Lord Swire | 855 c1098 (Link to this contribution)
My Lords, when the Minister rehearsed his list of government initiatives and investments, he left...; Lord Livermore | 855 c1098 (Link to this contribution)
I do not actually have with me the figure of the number of days of gas storage. I apologise if I ...; Lord Londesborough | 855 c1098 (Link to this contribution)
My Lords, as a fair-minded Cross-Bencher, I acknowledge that there have been some encouraging sig...; Lord Livermore | 855 c1099 (Link to this contribution)
I am very grateful to the noble Lord for his question. I have much experience of his fair-minded ...; Lord Brooke of Alverthorpe | 855 c1099 (Link to this contribution)
My Lords, the Treasury gets criticised for being too short-termist these days. I am wondering whe...; Lord Livermore | 855 c1100 (Link to this contribution)
My noble friend is consistent in his support for public/private partnerships. He knows that I agr...
Subjects: Armed conflict Electricity Excise duties Fuels Economic situation International Monetary Fund Economic growth Inflation Forecasts Natural gas Prices Offshore industry North Sea Iran Middle East Renewable energy USA Public finance Strait of Hormuz
Link: View this Parliamentary proceeding on hansard.parliament.uk

Middle East: Economic Update

Secondary information

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