Spring Statement 2025-03-26

The Labour Government has restored stability to public finances by cutting interest rates three times since the election. They have increased NHS investment leading to reduced waiting lists, raised the national living wage for 3 million people, and are reforming welfare to support more people back into work.

The Chancellor detailed the Government's approach to economic stability through close collaboration with the Bank of England and maintaining a focus on reducing inflation. The speech included plans for increased capital investment, defence spending, and support for the defence industry, aiming to boost jobs and innovation across various regions in the UK.

The shadow Chancellor criticised the government's economic policies, pointing out that they led to halved growth forecasts, higher inflation, rising unemployment, and a significant increase in borrowing. He emphasised the negative impact on businesses and charities due to increased taxes.

The Labour party's response criticises the current government for breaking promises and failing to address economic challenges effectively. The opposition argues that the government's policies, such as tax rises and national insurance increases, harm working people while offering no clear alternatives or solutions.

The Chair of the Treasury Committee questions the Chancellor about capital spending details, specifically inquiring about the allocation of an additional £2 billion per year for infrastructure projects.

The Liberal Democrats argue that the government's policies fail to deliver on promised change and continue to harm small businesses, high streets, and public services. The opposition calls for a more progressive approach to welfare reform and trade policies.

Responds by highlighting the government's achievements in NHS funding, breakfast clubs for schools, increased defence spending, carer support, living wage increases, and employment rights. She defends the government's approach to trade with the US despite President Trump’s tariffs and emphasises that they will reset the relationship with Europe. Argues against welfare cuts without fixing healthcare and social care issues.

Questions how the Chancellor's plans to build more homes will help young people in Loughborough get good, non-graduate jobs. Expresses concern about the difficult times young people have faced due to austerity and pandemic.

Inquires about the Chancellor's commitment not to introduce more tax increases and questions the impact of government planning reforms on potential output as per OBR report. Asks if the Employment Rights Bill has been evaluated by the OBR.

Reaffirms the importance of fiscal stability despite global instability for long-term government missions such as defending the country, improving living standards, and protecting vulnerable individuals.

Asks about compensation for schools facing increased national insurance contributions. Questions if Sir Robert Pattinson academy in her constituency will receive sufficient funds to cover these costs.

Supports the reforms set out by the Work and Pensions Secretary but expresses concern that cuts to health and disability benefits will lead to increased poverty and worsened health conditions.

Concerned about welfare cuts impacting individuals just above the poverty line, despite protecting the most vulnerable. She questioned whether it is necessary to reassess DWP changes.

Critiqued the Chancellor's performance on growth and tax increases, citing a halving of the growth forecast by the OBR. She questioned why productivity growth was expected to decline.

Commended the Chancellor for addressing challenges left by previous administrations. Inquired about the work being done to develop new models of funding for infrastructure projects, particularly rail infrastructure.

Asked if the Government would use specific public R&D on defence spending to boost economic growth. Praised the Chancellor for evaluating a London Business School paper on this topic as part of the spring statement.

Congratulated the Chancellor on addressing challenges and opportunities in the defence sector, which will lead to more investment in Glasgow South West. Highlighted past economic issues under SNP governance.

Asked for assurance regarding funding for workers potentially losing jobs at Scunthorpe steelworks, seeking support not only for redundant workers but also to attract new business and provide retraining.

Challenged the Government's choice to cut welfare rather than implement a wealth tax. Criticised the impact of these cuts on disabled individuals who rely heavily on state support.

Questioned why, if the Chancellor claims that circumstances have changed, she would not consider lowering income tax rates or reconsidering re-accession to the EU single market. Suggested implementing a wealth tax as an alternative to welfare cuts.

Complimented the Chancellor's statement and criticised the Conservative party for not understanding the link between house building and economic constraints. Emphasised the need to build affordable homes.

Challenged the Chancellor’s ability to stand up to unions, particularly in reducing the size of the civil service after it increased under previous Conservative leadership. Highlighted redundancy costs within the transformation fund.

Acknowledged the challenges left by previous governments and praised the Chancellor's commitment to funding in Barrow and Furness, highlighting it as a blueprint for better spending of the defence pound.

He criticised the Government's scaled back productivity ambitions, growing number of young people not in education, employment or training, and the current lower levels of apprenticeships. He called for an increase in apprenticeship numbers to build skills and grow productivity.

She supported her right hon. Friend, stating that the fiscal rules designed by their Government ensured they did not repeat Conservative party austerity which harmed constituents. She cited OBR's confirmation of people being £500 a year better off.

He criticised severe cuts to the benefits system that will hit some of the most vulnerable, arguing it is ill-conceived and should not be balanced on the backs of those in society who need support.

He called for protection of the most vulnerable in society and introduction of a wealth tax so that multimillionaires and billionaires pay their fair share. He warned about disability organisations’ warnings regarding hundreds of thousands being pushed into poverty.

He welcomed the Chancellor's emphasis on defence expenditure and support for the nuclear deterrent but questioned if sufficient spending is allocated to defence post-Ukraine.

He thanked the Chancellor for her statement while also expressing concerns about cuts to welfare payments affecting some of his poorest constituents. He suggested implementing a wealth tax or equalizing capital gains tax with income tax.

He questioned the economic sustainability of the Chancellor's claims and the proportion of transformation fund available to Northern Ireland for public service improvements.

He emphasised the importance of carefully managing public finances to avoid increasing costs of capital, impacting essential investments in housing and infrastructure.

Expressed serious concerns about the welfare reform, citing a constituent’s fears of increased poverty and suicide risks. Raised issues regarding an increase in relative poverty by 250,000 people and 50,000 children.

Questioned the relevance of GDP as a measure of growth for constituents, advocating instead for GDP per capita which has fallen over the past two years.

Welcomed the Chancellor’s £3 billion investment in a transformation fund but criticised the Tories for ducking reform and putting pressure on frontline services due to their failure to address it.

Asked the Chancellor to explain Labour's decision to remove winter fuel payments from pensioners earning £13,500 annually.

Highlighted that more than one in three children and 25% of adults live in poverty despite the UK being the sixth richest country. Criticised Labour for pushing 25,000 children into poverty due to a two-child benefit cap.

Accused the economy of being driven to the edge over the past 15 years with ordinary people bearing the burden while the wealthy amass extreme wealth. Suggested a tax on the wealthiest rather than austerity measures.

Welcomed today's defence announcement, which she claimed delivers security for working people and cements Portsmouth’s reputation as the future home of the Royal Navy. Criticised previous Conservative government for decimating armed services.

Critiqued the Chancellor's failure to take action that would have reversed damage done to pensioners, farmers, businesses, charities, and hard-working people due to tax rises.

Compared this Government’s strength in addressing wasteful spending with the last one's weakness. Emphasised tackling vested interests to build a better Britain.

Expressed concerns over local organisations facing redundancies and increased costs due to national insurance increases, questioning how these will be supported.

Questioned the justification for cutting disability benefits instead of taxing super-rich individuals. Suggested a 2% tax on assets over £10 million could raise £24 billion annually.

He questioned the slow growth rate since 2006, emphasising that the growth should impact constituents more directly.

Welsh regions would suffer significantly from proposed cuts due to higher disabled populations and public sector workforce. She called for a change in fiscal rules to avoid further austerity measures.

Acknowledged the Chancellor's recognition of Labour-run councils' efforts in building social homes and securing local employment opportunities. She questioned whether the Office for Budget Responsibility evaluated the upcoming Planning and Infrastructure Bill's impact.

Criticised the Chancellor's fiscal policies, pointing out tax rises and reduced housing numbers, urging the Prime Minister to dismiss her.

Acknowledged the impact of minimum wage increases and inflation reduction on lifting people out of poverty. He praised the Government's efforts in making work pay.

Expressed concerns over farming sector policies, including farm taxes and environmental protection commitments from the Government.

Emphasised the importance of creating jobs for those with low qualifications in improving their life chances. She supported the changes to apprenticeship levies to enhance access to training opportunities.

Asked if the Chancellor would address issues related to Chagos, questioning whether the UK taxpayer will be responsible for any costs.

Highlighted cuts to disability benefits and advocated for wealthier individuals contributing more to reduce burdens on poorer families.

Welcomed the commitment to better military homes, asking for clarity regarding RAF Odiham inclusion in these plans.

Acknowledged the careful use of taxpayers' money and praised efforts towards repairing public finances and reducing NHS waiting lists.

Critiqued austerity measures impacting children in poverty, suggesting reversing decisions like cutting welfare funds to better support families.

Complimented the Chancellor's efforts to end austerity by investing in NHS, education, and defence. He emphasised the need for bold reforms to improve public services.

Asked the Chancellor to confirm hearing Liberal Democrat alternatives regarding alternative taxes, including those on big banks and social media giants. Questioned why these suggestions were not being considered.

Inquired about how UK Export Finance's increased capacity will support defence companies in Scotland to create jobs, particularly in Livingston.

Complained that the Chancellor did not address agriculture or farming issues. Criticised a family farm tax as detrimental for young farmers and the agricultural sector's future.

Welcomed additional capital expenditure, asking to put today’s statement into context of prior investments and contrast with previous Government's lack of long-term growth plans.

Sought commitment from the Chancellor for Huntingdon in relation to defence innovation funding, highlighting its significance as a defence intelligence hub and potential redevelopment sites.

Asked how the economy would look under Conservative plans, noting their opposition to every decision made by the Chancellor. Criticised Conservatives for leaving £22 billion hole in public finances.

Sought assurance that Chancellor will work with other Departments on Golden Valley development project next to GCHQ, which is crucial for defence industry growth.

Thanked Chancellor for increase in defence spending and asked her to work towards continuous shipbuilding programme in Scotland. Criticised SNP's lack of support for the defence sector.

Critiqued the announcement, noting that over 3 million families receiving disability benefits will suffer financial losses due to today’s changes, averaging a £1,720 per year loss compared with inflation.

Asked how extra public investment and the national wealth fund will change investment in east midlands and North East Derbyshire.

Inquired about future of Pharmacy First scheme post-announcement and sought assurance regarding funding for NHS services.

Welcomed Chancellor's focus on defence innovation, highlighting the need to improve access to finance facilities for small and medium defence businesses in Aldershot and Farnborough. Called upon financial institutions to broaden their approach.

Asked the Chancellor to better explain how civil service cuts will impact devolved regions, specifically in terms of block grant allocations. Highlighted a past instance where Northern Ireland spent £700 million on a voluntary exit scheme but subsequently re-employed many as agency workers.

Responded that the Government has not set a specific number for civil service reduction, aiming to avoid an increase in agency workers and consultancies. Stressed the importance of learning from past failures in similar efforts by previous governments.