Lords motion to take note of the impact of the Government's economic and taxation policies on jobs, growth and prosperity. Agreed to on question.

Lords motion to take note of the impact of the Government's economic and taxation policies on jobs, growth and prosperity. Agreed to on question.

My Lords, I declare my interest as the director of a number of small businesses, and I join in thanking my noble friend Lord Elliott for convening today’s debate. It has been extremely wide-ranging in its scope on the matter in front of your Lordships’ House, and there have been...

My Lords, I declare my interest as the director of a number of small businesses, and I join in thanking my noble friend Lord Elliott for convening today’s debate. It has been extremely wide-ranging in its scope on the matter in front of your Lordships’ House, and there have been...

My Lords, the Budget is only days away. I believe that the noble Lord, Lord Liddle, may be the only person who can say that he is looking forward to it. Last week, the Chancellor made a paving speech which made it clear that huge tax rises are coming. Most...

My Lords, the Budget is only days away. I believe that the noble Lord, Lord Liddle, may be the only person who can say that he is looking forward to it. Last week, the Chancellor made a paving speech which made it clear that huge tax rises are coming. Most...

My Lords, I also start by thanking my noble friend Lord Elliott of Mickle Fell for initiating this debate so compellingly and I echo his tribute to Lord Desai.

I agree with so much of what he said about the importance of growth—dismal again today—the disastrous effect of high energy prices,...

My Lords, I also start by thanking my noble friend Lord Elliott of Mickle Fell for initiating this debate so compellingly and I echo his tribute to Lord Desai.

I agree with so much of what he said about the importance of growth—dismal again today—the disastrous effect of high energy prices,...

My Lords, I congratulate the noble Lord, Lord Elliott of Mickle Fell, on securing this debate and on his thoughtful, interesting and wide-ranging opening speech. I very much look forward to reading his book, once I receive the free copy that I was promised. I also join the noble Lord...

My Lords, I congratulate the noble Lord, Lord Elliott of Mickle Fell, on securing this debate and on his thoughtful, interesting and wide-ranging opening speech. I very much look forward to reading his book, once I receive the free copy that I was promised. I also join the noble Lord...

If the Minister will allow me, he spoke about GDP being reduced by four percentage points. I assume he is referring to the OBR’s original projection, which was over the next 15 years. So far, we have not had the 15 years, and he is thoroughly misrepresenting the situation if...

If the Minister will allow me, he spoke about GDP being reduced by four percentage points. I assume he is referring to the OBR’s original projection, which was over the next 15 years. So far, we have not had the 15 years, and he is thoroughly misrepresenting the situation if...

I do not think I have misrepresented the situation in any way, shape or form. The OBR forecast that around two-fifths of the 4% impact had already occurred by the time the EU-UK Trade and Cooperation Agreement came into force and that GDP will be 2.7% lower by 2025, with...

I do not think I have misrepresented the situation in any way, shape or form. The OBR forecast that around two-fifths of the 4% impact had already occurred by the time the EU-UK Trade and Cooperation Agreement came into force and that GDP will be 2.7% lower by 2025, with...

Can the Minister clarify that his argument is that the Government have made no policy errors regarding their economic management over the last year?

Can the Minister clarify that his argument is that the Government have made no policy errors regarding their economic management over the last year?

I am only five minutes into my speech; let us hear my whole speech before we conclude on that.

The OBR’s productivity assessment will be a look in the rear-view mirror, but the past mistakes of the previous Government do not need to determine our country’s future. While the record of...

I am only five minutes into my speech; let us hear my whole speech before we conclude on that.

The OBR’s productivity assessment will be a look in the rear-view mirror, but the past mistakes of the previous Government do not need to determine our country’s future. While the record of...

Will the Minister confirm that at no point would the OBR, either in interviews or in its documents, confirm the existence of a £22 billion black hole because it absolutely did not?

Will the Minister confirm that at no point would the OBR, either in interviews or in its documents, confirm the existence of a £22 billion black hole because it absolutely did not?

The report that it produced stopped before the conclusion of the previous Government. It stopped at that Government’s last Budget and of course they had several months left to run. The OBR reported on the period it was asked to report on, yet the previous Government still had several more...

The report that it produced stopped before the conclusion of the previous Government. It stopped at that Government’s last Budget and of course they had several months left to run. The OBR reported on the period it was asked to report on, yet the previous Government still had several more...

My Lords, I will be brief. I thank the Library for its excellent briefing note, and all noble Lords for their thoughtful contributions. It has been a superb and stimulating debate; we should consider making it an annual fixture in the Lords calendar.

There are lots of points I would love...

My Lords, I will be brief. I thank the Library for its excellent briefing note, and all noble Lords for their thoughtful contributions. It has been a superb and stimulating debate; we should consider making it an annual fixture in the Lords calendar.

There are lots of points I would love...

It is just worth noting that the OBR updated those forecasts in 2024 and 2025 and maintained its view that it will reduce GDP by four percentage points.

It is just worth noting that the OBR updated those forecasts in 2024 and 2025 and maintained its view that it will reduce GDP by four percentage points.

It is also worth noting that UK trade with the EU is now higher than it was in 2019, as is UK trade with the rest of the world. The referendum was over nine and a half years ago and we left the EU five and a half years ago....

It is also worth noting that UK trade with the EU is now higher than it was in 2019, as is UK trade with the rest of the world. The referendum was over nine and a half years ago and we left the EU five and a half years ago....

My Lords, it is a privilege to lead today’s debate on the impact of the Government’s economic and taxation policies on jobs, growth and prosperity.

I begin by noting an absent friend. I am saddened that the coming Budget will be the first in 35 years that will take place without...

My Lords, it is a privilege to lead today’s debate on the impact of the Government’s economic and taxation policies on jobs, growth and prosperity.

I begin by noting an absent friend. I am saddened that the coming Budget will be the first in 35 years that will take place without...

My Lords, we are all grateful to the noble Lord, Lord Elliott, for having secured this debate. As noble Lords will know, the noble Lord is one of the most brilliant political campaigners of his generation, evidenced in the speech we have just heard and, most notably, in his leadership...

My Lords, we are all grateful to the noble Lord, Lord Elliott, for having secured this debate. As noble Lords will know, the noble Lord is one of the most brilliant political campaigners of his generation, evidenced in the speech we have just heard and, most notably, in his leadership...

My Lords, I would also like to thank the noble Lord, Lord Elliott, for giving us a chance to discuss this important question, and it is always a pleasure to follow the noble Lord, Lord Eatwell.

Economic commentary has been dominated by the fiscal hole—said to be £30 billion—facing the Chancellor....

My Lords, I would also like to thank the noble Lord, Lord Elliott, for giving us a chance to discuss this important question, and it is always a pleasure to follow the noble Lord, Lord Eatwell.

Economic commentary has been dominated by the fiscal hole—said to be £30 billion—facing the Chancellor....

My Lords, I draw attention to my entry in the register, and in particular to my chairmanship of Direct Special Metals, a company whose recent experience I shall refer to in my brief contribution. It is always a pleasure to follow the noble Lord, Lord Skidelsky, and I join others...

My Lords, I draw attention to my entry in the register, and in particular to my chairmanship of Direct Special Metals, a company whose recent experience I shall refer to in my brief contribution. It is always a pleasure to follow the noble Lord, Lord Skidelsky, and I join others...

My Lords, it is a great privilege and pleasure to follow the noble Lord, Lord Howard. I thank the noble Lord, Lord Elliott of Mickle Fell, for bringing this Motion before the House and allowing us time to debate the various issues that have become clearer since the general election...

My Lords, it is a great privilege and pleasure to follow the noble Lord, Lord Howard. I thank the noble Lord, Lord Elliott of Mickle Fell, for bringing this Motion before the House and allowing us time to debate the various issues that have become clearer since the general election...

My Lords, if you want a bigger slice of cake, the best thing to do is bake a bigger cake, then everyone gets a bigger slice. That, as my noble friend Lord Elliott knows very well, is how Mrs Thatcher tried to give a whole generation of young people, including...

My Lords, if you want a bigger slice of cake, the best thing to do is bake a bigger cake, then everyone gets a bigger slice. That, as my noble friend Lord Elliott knows very well, is how Mrs Thatcher tried to give a whole generation of young people, including...