We are on the right path with the right economic pl [2D [K plan. Unemployment is down, the economy is growing, interest rates have bee [3D [K been cut six times, last year Government borrowing was lower than it was th [2D [K the previous year and is set to fall by more than in any other G7 economy. [K At the same time, the Government are acting responsibly on the world stage. [6D [K stage. This is a war that we did not start, we did not enter, and we are wo [2D [K working with our international allies to de-escalate. Our focus is on prote [5D [K protecting family finances, supporting businesses and taking care with the [K public purse to improve Britain's economic resilience.

Just a couple of weeks ago, I hosted an event in Do [2D [K Downing Street where I met people who are benefiting from the change in the [3D [K the two-child limit and people who had campaigned for that change. Mums tol [3D [K told me that they were going to use the money to pay for their kids to go t [1D [K to after-school clubs with their friends, swimming lessons that they could [K not afford before, or a new school coat rather than a second-hand one. That [4D [K That is the difference that this money is making to families up and down th [2D [K the country. I am proud to be the Chancellor who has scrapped the two-child [9D [K two-child limit.

To start with, let us remember that the plans we in [2D [K inherited from the last Government would have seen fuel duty go up straight [8D [K straightaway; the plans that we inherited from the last Government would no [2D [K not have seen £29 billion of investment a year in our NHS; and the plans th [2D [K that we inherited from the last Government would have seen business rates f [1D [K for our high street businesses—our retail, hospitality and leisure business [8D [K businesses—go up straightaway. We did make the decision to change that inhe [4D [K inheritance because we thought it was the right thing to do, and we still d [1D [K do. The International Monetary Fund confirmed that we have the fastest rate [4D [K rate of fiscal consolidation of any country in the G7, and our borrowing as [2D [K as a share of GDP fell to 4.3% in the last financial year and is due to fal [3D [K fall in every single year of this Parliament. This is the first time that o [1D [K our deficit has been lower than 5% since 2019.

The right hon. Gentleman would have increased fuel [K duty and business rates; we reduced them instead. We are reducing the budge [5D [K budget deficit, now below 5% of GDP for the first time in six years, leadin [6D [K leading the Bank of England to cut interest rates six times since our elect [5D [K election mandate.

We have taken action on energy prices, fuel duty, p [1D [K prescription charges, and rail fares. We introduced the Renters' Rights Act [3D [K Act 2025 and are helping people with mortgages. We will also help those in [K the private rented sector to ensure they do not become poorer due to confli [6D [K conflicts.

This Government inherited plans for an independent [K revaluation of properties. We then put in £4.3 billion of support to limit [K increases, introduced a differential within the business rates system, and [K continue to review all taxes.

I thank my hon. Friend for that question. While oth [3D [K other parties—specifically Reform and the Conservatives—wanted us to enter [K this war, we stayed out of it, and are working to de-escalate the conflict [K and reopen the strait of Hormuz. The economy was growing, interest rates we [2D [K were coming down and inflation was falling. As a result, every month since [K I have become Chancellor, wages have risen by more than inflation, easing t [1D [K the cost of living pressures that the previous Government oversaw.

I am always happy to take questions on business rates, even months after the decision set out at the Budget, and I thank the hon. Member for reading out the Labour manifesto. We have made significant changes to business rates by introducing the new lower multiplier for high street businesses so that they can pay a lower tax rate than the largest online giants.

My hon. Friend is absolutely right that although Reform-led Worcestershire council said that it would cut taxes, it has instead put them up. That is why I urge people in Redditch and across the country to vote Labour on 7 May.

The Government recognise that the LISA is not working f [1D [K for everyone, and have launched a short consultation on a new ISA product t [1D [K to support more first-time buyers. The new product will include the Governm [7D [K Government bonus paid at the point of withdrawal for home purchase.

The energy profits levy remains in place for now, captu [5D [K capturing profits made by UK companies during conflicts. The Conservative o [1D [K opposition opposes this tax, which would just mean higher profits for oil a [1D [K and gas companies.

Spending funded by bonds must adhere to fiscal rules, b [1D [K but the Minister acknowledges the importance of research and development wi [2D [K within the defence industry. Last year, £400 million was allocated for UK d [1D [K defence innovation.

Strengthening statutory sick pay is part of Labour's co [2D [K commitment to make work pay, and USDAW's efforts have been recognised.

This Labour Government are committed to enabling mo [2D [K more people to realise the dream of home ownership. Mortgages have become m [1D [K more affordable under this Government, thanks to increased economic stabili [7D [K stability and six interest rate cuts.