The Chancellor set out a package of measures on 21 May to support families and businesses. This covered:

• A package to support motorists including through changes to fuel duty, the Heavy Goods Vehicle (HGV) Levy a 12-month Vehicle Excise Duty (VED) holiday for the majority of HGVs and tax-free...

The Chancellor set out a package of measures on 21 May to support families and businesses. This covered:

• A package to support motorists including through changes to fuel duty, the Heavy Goods Vehicle (HGV) Levy a 12-month Vehicle Excise Duty (VED) holiday for the majority of HGVs and tax-free...

To ask the Chancellor of the Exchequer, what estimate she has made of (a) the total cost to the Exchequer and (b) the potential impact on inflation and household disposable income of the measures announced in her statement of 21 May 2026 on the Government’s economic response to the conflict...

To ask the Chancellor of the Exchequer, what estimate she has made of (a) the total cost to the Exchequer and (b) the potential impact on inflation and household disposable income of the measures announced in her statement of 21 May 2026 on the Government’s economic response to the conflict...

The Arab Gulf is not a unified block. The two leading Gulf states have been diverging over Yemen, Sudan, Israel and oil.

The Arab Gulf is not a unified block. The two leading Gulf states have been diverging over Yemen, Sudan, Israel and oil.

I begin by joining others in expressing my condolences to the family of Lance Bombardier Ciara Sullivan. It is a pleasure to follow my parliamentary neighbour, the right hon. Member for Chingford and Woodford Green (Sir Iain Duncan Smith), despite our best efforts to retire him at the last general...

I begin by joining others in expressing my condolences to the family of Lance Bombardier Ciara Sullivan. It is a pleasure to follow my parliamentary neighbour, the right hon. Member for Chingford and Woodford Green (Sir Iain Duncan Smith), despite our best efforts to retire him at the last general...

Following 2025 elections, Iraq has new leaders. Challenges include curbing Iranian influence, curtailed oil production and disagreements among Kurdish leaders.

Following 2025 elections, Iraq has new leaders. Challenges include curbing Iranian influence, curtailed oil production and disagreements among Kurdish leaders.

Economic effects of the US/Israeli conflict with Iran are emerging for UK consumers and businesses. However, flexible supply chains may cushion price pressures.

Economic effects of the US/Israeli conflict with Iran are emerging for UK consumers and businesses. However, flexible supply chains may cushion price pressures.

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.

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.

My Lords, the International Monetary Fund, in its latest World Economic Outlook, has warned that the energy shock stemming from the Iran war will hit the United Kingdom harder than any other advanced economy, notably in terms of growth and inflation. It is also the case that UK borrowing costs...

My Lords, the International Monetary Fund, in its latest World Economic Outlook, has warned that the energy shock stemming from the Iran war will hit the United Kingdom harder than any other advanced economy, notably in terms of growth and inflation. It is also the case that UK borrowing costs...

My Lords, the impact of the Iran war has made previous economic forecasts pretty much redundant. We talked last week about warnings from the IMF and the OECD, repeated today by the noble Baroness, Lady Neville-Rolfe, which essentially assess that the UK would suffer more than any other G7 economy....

My Lords, the impact of the Iran war has made previous economic forecasts pretty much redundant. We talked last week about warnings from the IMF and the OECD, repeated today by the noble Baroness, Lady Neville-Rolfe, which essentially assess that the UK would suffer more than any other G7 economy....

My Lords, I am grateful for the questions and comments from the noble Baronesses, Lady Neville-Rolfe and Lady Kramer. The noble Baroness, Lady Neville-Rolfe, started her comments by focusing on the IMF’s revised forecasts that were published last week and that we discussed briefly in this House then. As both

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My Lords, I am grateful for the questions and comments from the noble Baronesses, Lady Neville-Rolfe and Lady Kramer. The noble Baroness, Lady Neville-Rolfe, started her comments by focusing on the IMF’s revised forecasts that were published last week and that we discussed briefly in this House then. As both

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My Lords, one of the big problems that the Government faced when they took office was an unsustainable level of public debt and a totally unsustainable level of debt interest being paid by taxpayers each year on that debt. The Government saw clearly at the time that one thing they...

My Lords, one of the big problems that the Government faced when they took office was an unsustainable level of public debt and a totally unsustainable level of debt interest being paid by taxpayers each year on that debt. The Government saw clearly at the time that one thing they...

I am grateful to the noble Lord for his question. We are repairing the public finances. At the time of the spring forecast, borrowing was set to fall more over this Parliament than in any other G7 economy. We are now borrowing below the G7 average, something that was not...

I am grateful to the noble Lord for his question. We are repairing the public finances. At the time of the spring forecast, borrowing was set to fall more over this Parliament than in any other G7 economy. We are now borrowing below the G7 average, something that was not...

My Lords, returning to defence spending, the Minister referred to the biggest sustained increase in that spending. If it happens, we will welcome

it, but it does not happen until the defence investment plan is published. I noted the slight smile on his face when he said, “in due course”,...

My Lords, returning to defence spending, the Minister referred to the biggest sustained increase in that spending. If it happens, we will welcome

it, but it does not happen until the defence investment plan is published. I noted the slight smile on his face when he said, “in due course”,...

Of course there are consequences; I agree completely with the noble Lord. He talks of a hypothetical of the defence investment plan not happening. It will happen and, as I have said already, it will be published in due course.

Of course there are consequences; I agree completely with the noble Lord. He talks of a hypothetical of the defence investment plan not happening. It will happen and, as I have said already, it will be published in due course.

My Lords, in response to my noble friend Lord Clarke’s question, the Minister spoke of the cuts that the Government are planning to make to the welfare budget. Is he saying that those cuts are sufficient and that that is all the Government will be doing?

My Lords, in response to my noble friend Lord Clarke’s question, the Minister spoke of the cuts that the Government are planning to make to the welfare budget. Is he saying that those cuts are sufficient and that that is all the Government will be doing?

I do not have a crystal ball and I cannot look ahead to everything the Government will be doing, but I can tell the noble Lord, as I said to his noble friend, that we are reforming the welfare system.

I do not have a crystal ball and I cannot look ahead to everything the Government will be doing, but I can tell the noble Lord, as I said to his noble friend, that we are reforming the welfare system.

In Washington, the Chancellor pledged to avoid unnecessary trade restrictions. Can we look forward to the Government cancelling the bad idea of introducing a large carbon border tax or tariff, which would be a penalty on British consumers and a further boost to costs, making British industry less competitive?

In Washington, the Chancellor pledged to avoid unnecessary trade restrictions. Can we look forward to the Government cancelling the bad idea of introducing a large carbon border tax or tariff, which would be a penalty on British consumers and a further boost to costs, making British industry less competitive?

No, and I disagree with the noble Lord, as I am sure I do on many issues. He talks about trade restrictions. He obviously championed a Brexit which put up massive trade restrictions with our nearest trading partners—

No, and I disagree with the noble Lord, as I am sure I do on many issues. He talks about trade restrictions. He obviously championed a Brexit which put up massive trade restrictions with our nearest trading partners—

Tariff free!

Tariff free!

It was estimated at the time to be costing us some 4%, subsequently estimated to be 8%, of GDP, so he has put up massive tariff barriers with our biggest partner, which is not something that is in favour of free trade. He talks about it being tariff free, but...

It was estimated at the time to be costing us some 4%, subsequently estimated to be 8%, of GDP, so he has put up massive tariff barriers with our biggest partner, which is not something that is in favour of free trade. He talks about it being tariff free, but...