To ask Her Majesty’s Government what is their assessment of the practical impact on United Kingdom productivity of net migration of 165,000 per year over the next five years.

To ask Her Majesty’s Government what is their assessment of the practical impact on United Kingdom productivity of net migration of 165,000 per year over the next five years.

Lords motion to take note of the economy of the United Kingdom in the light of the Budget Statement. Agreed to on question.

Lords motion to take note of the economy of the United Kingdom in the light of the Budget Statement. Agreed to on question.

My Lords, the case that the UK has recovered strongly from its catastrophic financial state in 2010 is hard to dispute—although I am sure some noble Lords will do so. We are now the fastest growing

major advanced economy, growing at our fastest since 2007. Employment is at a record...

My Lords, the case that the UK has recovered strongly from its catastrophic financial state in 2010 is hard to dispute—although I am sure some noble Lords will do so. We are now the fastest growing

major advanced economy, growing at our fastest since 2007. Employment is at a record...

I am grateful to the Minister for giving way but he has just made two comments that are very hard to reconcile. First, he said that living standards depend on productivity growth. He then referred to jobs growth. However, there has been no productivity growth; in fact, the growth in...

I am grateful to the Minister for giving way but he has just made two comments that are very hard to reconcile. First, he said that living standards depend on productivity growth. He then referred to jobs growth. However, there has been no productivity growth; in fact, the growth in...

I entirely agree with the noble Lord. My reference to employment simply acknowledged that having a job enables people to protect their living standards. I acknowledge that productivity has not improved in recent years. That is the focus for the future. I have said that productivity is still too low;...

I entirely agree with the noble Lord. My reference to employment simply acknowledged that having a job enables people to protect their living standards. I acknowledge that productivity has not improved in recent years. That is the focus for the future. I have said that productivity is still too low;...

My Lords, it is a pleasure to engage in this debate. I want to focus on three areas: first, the fantasy figures given by the Government in the Budget; secondly, the productivity puzzle; and, thirdly, the issues raised in Who is my Neighbour?, the Church of England document, which was...

My Lords, it is a pleasure to engage in this debate. I want to focus on three areas: first, the fantasy figures given by the Government in the Budget; secondly, the productivity puzzle; and, thirdly, the issues raised in Who is my Neighbour?, the Church of England document, which was...

My Lords, I should like to address three matters: first, the achievements of this Government in dealing with the state of the economy which they inherited in 2010; secondly, rebalancing the economy in terms of growth outside London and the south-east, particularly in the north-east of England; and, thirdly, the...

My Lords, I should like to address three matters: first, the achievements of this Government in dealing with the state of the economy which they inherited in 2010; secondly, rebalancing the economy in terms of growth outside London and the south-east, particularly in the north-east of England; and, thirdly, the...

My Lords, at the time of his first Budget in June 2010, the Chancellor said:

“The most urgent task facing this country is to implement an accelerated plan to reduce the deficit”.

He committed himself to achieving a “cyclically-adjusted current budget balance”—the relevant part of that deficit standing at 4.8%—by the end...

My Lords, at the time of his first Budget in June 2010, the Chancellor said:

“The most urgent task facing this country is to implement an accelerated plan to reduce the deficit”.

He committed himself to achieving a “cyclically-adjusted current budget balance”—the relevant part of that deficit standing at 4.8%—by the end...

My Lords, since the last general election, the Chancellor has succeeded in transforming the disastrous situation that he inherited into one in which recovery is well under way. He has done so to the extent that the Economist headlines its article on the Budget “Bust to boom”. I think that...

My Lords, since the last general election, the Chancellor has succeeded in transforming the disastrous situation that he inherited into one in which recovery is well under way. He has done so to the extent that the Economist headlines its article on the Budget “Bust to boom”. I think that...

My Lords, if you want to have the right policy, you have to start with the right diagnosis. Unfortunately, the Chancellor has got the wrong diagnosis. He and his colleagues have argued all along that Labour caused the deficit by irresponsible public expenditure, which led to his policy. In fact,...

My Lords, if you want to have the right policy, you have to start with the right diagnosis. Unfortunately, the Chancellor has got the wrong diagnosis. He and his colleagues have argued all along that Labour caused the deficit by irresponsible public expenditure, which led to his policy. In fact,...

My Lords, it is right to acknowledge what is good and encouraging in the economic situation—particularly compared to the background of five years ago—and in much of what the Chancellor announced last week, and I am glad to do so. I warmly welcome the continuing fall in the

number of...

My Lords, it is right to acknowledge what is good and encouraging in the economic situation—particularly compared to the background of five years ago—and in much of what the Chancellor announced last week, and I am glad to do so. I warmly welcome the continuing fall in the

number of...

My Lords, much of the commentary we have heard since the Budget—but not, I am pleased to say, in your Lordships’ House—has been a caricature of an economic debate between two harshly polarised views: one political party wants a strong economy and the other does not. Clearly, that is a...

My Lords, much of the commentary we have heard since the Budget—but not, I am pleased to say, in your Lordships’ House—has been a caricature of an economic debate between two harshly polarised views: one political party wants a strong economy and the other does not. Clearly, that is a...

I appreciate that the recent Budget should be treated more as political positioning ahead of the election than as a serious attempt to tackle macro long-term issues, but I want to touch on two things in that latter camp: the north/south divide and the provision of housing. I declare that...

I appreciate that the recent Budget should be treated more as political positioning ahead of the election than as a serious attempt to tackle macro long-term issues, but I want to touch on two things in that latter camp: the north/south divide and the provision of housing. I declare that...

My Lords, before I start, I will say that I agree with everything the noble Baroness, Lady Valentine, said in her speech about housing, particularly about the threat of planning. I have said before that we should get planning out of DCLG and into BIS, as part of changing the...

My Lords, before I start, I will say that I agree with everything the noble Baroness, Lady Valentine, said in her speech about housing, particularly about the threat of planning. I have said before that we should get planning out of DCLG and into BIS, as part of changing the...

My Lords, it is a real privilege to follow the noble Lord, Lord Rooker. I am junior to him in entry to the Houses of Parliament, but it is always a pleasure to participate in a debate with him. The noble Lord, Lord Davies, must be very grateful to him....

My Lords, it is a real privilege to follow the noble Lord, Lord Rooker. I am junior to him in entry to the Houses of Parliament, but it is always a pleasure to participate in a debate with him. The noble Lord, Lord Davies, must be very grateful to him....

My Lords, I very much agree with the remarks of the noble Lord, Lord Brooke, on housing. I do not claim I will be able to match the erudition of the rest of his speech, however.

I was provoked into speaking in this debate by sitting through the whole of the...

My Lords, I very much agree with the remarks of the noble Lord, Lord Brooke, on housing. I do not claim I will be able to match the erudition of the rest of his speech, however.

I was provoked into speaking in this debate by sitting through the whole of the...

My Lords, it is a long time since I spoke in an economic debate. My reason for speaking today is my deep disappointment with the Budget. I respect George Osborne, who does not normally seek cheap popularity. He has depth and stamina and is not a PR man, unlike some...

My Lords, it is a long time since I spoke in an economic debate. My reason for speaking today is my deep disappointment with the Budget. I respect George Osborne, who does not normally seek cheap popularity. He has depth and stamina and is not a PR man, unlike some...

My Lords, you can fool all of the people some of the time, and you can fool some of the people all of the time, but you cannot fool all of the people all of the time. If we take as our evidence his Budget speech of last Wednesday, this...

My Lords, you can fool all of the people some of the time, and you can fool some of the people all of the time, but you cannot fool all of the people all of the time. If we take as our evidence his Budget speech of last Wednesday, this...

My Lords, I want to concentrate on the impact of the Budget and the Autumn Statement on pensions and savings. I very much welcome the initiatives that have been taken, not only by the Chancellor but by the excellent Pensions Minister in the other place, Mr Steve Webb. The noble...

My Lords, I want to concentrate on the impact of the Budget and the Autumn Statement on pensions and savings. I very much welcome the initiatives that have been taken, not only by the Chancellor but by the excellent Pensions Minister in the other place, Mr Steve Webb. The noble...

My Lords, I am pleased to have the opportunity of speaking in this debate. Having asked the Minister to note that I intend to speak on my pet subject of mobile homes and the attention paid to it by the Government, I confess to him that I will not be...

My Lords, I am pleased to have the opportunity of speaking in this debate. Having asked the Minister to note that I intend to speak on my pet subject of mobile homes and the attention paid to it by the Government, I confess to him that I will not be...