Lords motion to take note of the first report of the Economic Affairs Committee on National debt: it's time for tough decisions (HL 5). Agreed to on question.

Lords motion to take note of the first report of the Economic Affairs Committee on National debt: it's time for tough decisions (HL 5). Agreed to on question.

My Lords, it gives me great pleasure to open this debate. Let me start by thanking everyone who has come in on this lovely sunny day, and, in particular, the members of the committee for their hard work and commitment over the years in which I was chair. Sadly, I...

My Lords, it gives me great pleasure to open this debate. Let me start by thanking everyone who has come in on this lovely sunny day, and, in particular, the members of the committee for their hard work and commitment over the years in which I was chair. Sadly, I...

My Lords, I start by saying what an excellent and challenging report this is. It is exactly the kind of thing that the House of Lords exists to do and which political parties find very difficult to address. I congratulate the noble Lord, Lord Bridges of Headley, whom I have...

My Lords, I start by saying what an excellent and challenging report this is. It is exactly the kind of thing that the House of Lords exists to do and which political parties find very difficult to address. I congratulate the noble Lord, Lord Bridges of Headley, whom I have...

My Lords, in the light of recent events, the last report from the noble Lord, Lord Bridges, as the brilliant chair of our Economic Affairs Committee, could not have been more opportune. As he indicated, the growth of government borrowing in the last 20 years tells us why we have...

My Lords, in the light of recent events, the last report from the noble Lord, Lord Bridges, as the brilliant chair of our Economic Affairs Committee, could not have been more opportune. As he indicated, the growth of government borrowing in the last 20 years tells us why we have...

My Lords, I thank the noble Lord, Lord Bridges, for his time as chair of the Economic Affairs Committee and for securing this debate. He played a crucial role in ensuring that the committee’s work was relevant, timely and newsworthy. We can see that in the reports that were published...

My Lords, I thank the noble Lord, Lord Bridges, for his time as chair of the Economic Affairs Committee and for securing this debate. He played a crucial role in ensuring that the committee’s work was relevant, timely and newsworthy. We can see that in the reports that were published...

My Lords, it is a pleasure to follow the noble Lord, Lord Burns, not for the first time in my life. It is also a pleasure to congratulate the noble Lord, Lord Bridges, on his incisive speech today and his excellent chairmanship of the committee that produced this report.

Despite the...

My Lords, it is a pleasure to follow the noble Lord, Lord Burns, not for the first time in my life. It is also a pleasure to congratulate the noble Lord, Lord Bridges, on his incisive speech today and his excellent chairmanship of the committee that produced this report.

Despite the...

My Lords, it is a pleasure, if somewhat daunting, to follow the former Permanent Secretary of the Treasury and the former Chancellor of the Exchequer, and to be shortly followed by the former Governor of the Bank of England. However, as a member of the Economic Affairs Committee, I first...

My Lords, it is a pleasure, if somewhat daunting, to follow the former Permanent Secretary of the Treasury and the former Chancellor of the Exchequer, and to be shortly followed by the former Governor of the Bank of England. However, as a member of the Economic Affairs Committee, I first...

My Lords, it is a pleasure to take part in this debate. I add to the congratulations to my noble friend Lord Bridges, as chairman of the committee, and its members for producing this—I was going to say “timely” report, but this debate is some seven months after the report...

My Lords, it is a pleasure to take part in this debate. I add to the congratulations to my noble friend Lord Bridges, as chairman of the committee, and its members for producing this—I was going to say “timely” report, but this debate is some seven months after the report...

My Lords, it is a pleasure to speak in this debate on such an important topic, and I congratulate the noble Lord, Lord Bridges—my predecessor as chair of the Economic Affairs Committee—and thank him for his kindness in the tricky transition period between our tenures and for his time chairing...

My Lords, it is a pleasure to speak in this debate on such an important topic, and I congratulate the noble Lord, Lord Bridges—my predecessor as chair of the Economic Affairs Committee—and thank him for his kindness in the tricky transition period between our tenures and for his time chairing...

My Lords, like others, I congratulate my noble friend Lord Bridges on his ambition and boldness in leading the Economic Affairs Committee to study the proverbially complex and nebulous subject of trying to control and direct our borrowing and the growth of our national debt.

I confess that I do not...

My Lords, like others, I congratulate my noble friend Lord Bridges on his ambition and boldness in leading the Economic Affairs Committee to study the proverbially complex and nebulous subject of trying to control and direct our borrowing and the growth of our national debt.

I confess that I do not...

My Lords, I thank the noble Lord, Lord Bridges, for his truly excellent chairing of the Economic Affairs Committee and this inquiry, and for his opening remarks. This report has indeed, unfortunately, become even more relevant than it was last September. I will highlight three rather general lessons I took...

My Lords, I thank the noble Lord, Lord Bridges, for his truly excellent chairing of the Economic Affairs Committee and this inquiry, and for his opening remarks. This report has indeed, unfortunately, become even more relevant than it was last September. I will highlight three rather general lessons I took...

My Lords, I was a member of your Lordships’ Economic Affairs Committee under the excellent chairmanship of my noble friend Lord Bridges of Headley when this report kicked off, but the annual musical chairs of Select Committees saw my chair move to another committee before the report got seriously under...

My Lords, I was a member of your Lordships’ Economic Affairs Committee under the excellent chairmanship of my noble friend Lord Bridges of Headley when this report kicked off, but the annual musical chairs of Select Committees saw my chair move to another committee before the report got seriously under...

My Lords, I congratulate my erstwhile colleagues on the Economic Affairs Committee on their excellent report on the national debt. I also congratulate the noble Lord, Lord Bridges, on the clarity of his opening speech and on his outstanding chairmanship of the Select Committee.

The Chancellor of the Exchequer deserves sympathy...

My Lords, I congratulate my erstwhile colleagues on the Economic Affairs Committee on their excellent report on the national debt. I also congratulate the noble Lord, Lord Bridges, on the clarity of his opening speech and on his outstanding chairmanship of the Select Committee.

The Chancellor of the Exchequer deserves sympathy...

My Lords, as a former member of the Economic Affairs Committee, I add my congratulations to my noble friend Lord Bridges and to the other members of the committee for the outstanding report that they have produced. It is a privilege to follow the noble Lord, Lord King, whose time...

My Lords, as a former member of the Economic Affairs Committee, I add my congratulations to my noble friend Lord Bridges and to the other members of the committee for the outstanding report that they have produced. It is a privilege to follow the noble Lord, Lord King, whose time...

It is a great pleasure to take part in this debate. It is a bit like the Economic Affairs Committee 2024-25 reunion tour, with added guest stars. I was a member of the committee, and preparing for the debate gave me an opportunity to reflect on what we achieved—or what...

It is a great pleasure to take part in this debate. It is a bit like the Economic Affairs Committee 2024-25 reunion tour, with added guest stars. I was a member of the committee, and preparing for the debate gave me an opportunity to reflect on what we achieved—or what...

My Lords, this is an extremely worthwhile report. Its worth is reflected in the fact that, despite the turbulence of the last six months, it is as relevant today as it was when it came out in September last year. As the report says, it invokes the need to make...

My Lords, this is an extremely worthwhile report. Its worth is reflected in the fact that, despite the turbulence of the last six months, it is as relevant today as it was when it came out in September last year. As the report says, it invokes the need to make...

My Lords, I congratulate the noble Lord, Lord Bridges, and his committee on their timely and well-argued report. I agree with pretty much all of it. The fact is that Britain’s national debt has more than doubled as a percentage of national income in 20 years and we have nothing...

My Lords, I congratulate the noble Lord, Lord Bridges, and his committee on their timely and well-argued report. I agree with pretty much all of it. The fact is that Britain’s national debt has more than doubled as a percentage of national income in 20 years and we have nothing...

My Lords, I congratulate the noble Lord, Lord Bridges, and his committee on this valuable report and its hard-hitting title, and my fellow Peers in this debate on their many excellent speeches. It is a pleasure to follow the noble Lord, Lord Macpherson of Earl’s Court. I declare my interest...

My Lords, I congratulate the noble Lord, Lord Bridges, and his committee on this valuable report and its hard-hitting title, and my fellow Peers in this debate on their many excellent speeches. It is a pleasure to follow the noble Lord, Lord Macpherson of Earl’s Court. I declare my interest...

My Lords, it is a pleasure to have the opportunity to participate, albeit briefly, in this morning’s proceedings. I enthusiastically join all previous speakers in congratulating the noble Lord, Lord Bridges, and the wider committee on its report. It provides a forensic, grim and justifiably challenging—drawing on adjectives used by...

My Lords, it is a pleasure to have the opportunity to participate, albeit briefly, in this morning’s proceedings. I enthusiastically join all previous speakers in congratulating the noble Lord, Lord Bridges, and the wider committee on its report. It provides a forensic, grim and justifiably challenging—drawing on adjectives used by...

My Lords, I congratulate the noble Lord, Lord Bridges, on this excellent report and welcome the discussion today. It is more urgent than

when it was published, of course, and it is an issue that is pressing on us as rapidly as it is possible to imagine, as we see...

My Lords, I congratulate the noble Lord, Lord Bridges, on this excellent report and welcome the discussion today. It is more urgent than

when it was published, of course, and it is an issue that is pressing on us as rapidly as it is possible to imagine, as we see...