Speeches by Reeves.

“As the hon. Gentleman knows, we are conducting a review of how the Valuation Office Agency calculates business rates, including for our hospitality sector. The last time that the Liberal Democrats were in office and they had a choice over VAT policy, they increased it from 17.5% to 20%. I am not sure why the public sho…”

“I hear some shouting from the Conservative Benches. Inflation went to more than 11% when they were in government, and they froze the threshold on plan 2 student loans—which they introduced —for many years.”

“It was a real honour for me to be able to visit my hon. Friend’s constituency and see the Type 31 frigates being built there. This Government are investing in defence, and in the skills of our young people so that they can get the jobs in these expanding sectors—unlike the SNP Government in Scotland, who are not invest…”

“This Government are investing in young people, by ending the two-child limit, investing in further education—which was neglected by the last Government—and increasing the number of young people who can go on to study or take apprenticeships, and, indeed, through the youth guarantee, which is worth more than £800 millio…”

“The previous Government presided over a 113,000 increase in the number of young people not in education, employment or training, and the number of youth apprenticeships was cut by 40%. Why does the hon. Gentleman think that unemployment among young people is a challenge? It is because of the decisions that the previous…”

“I believe in fair taxes, and I believe the wealthy should pay their fair share, but I believe in bringing that about in a credible way that actually delivers for our constituents. That is why, in my two Budgets, I have ended the non-dom loophole, charged VAT and business rates on private school fees, raised capital gai…”

“I think it can be seen from the policies that we have introduced over the past year that we are determined to address the cost of living challenges that we inherited from the Conservative party, whether by freezing rail fares, freezing prescription charges, extending the 5p cut in fuel duty until September this year or…”

“Oil and gas will play an important part in our energy system for many years to come, including oil and gas from the North sea, but we do need to improve our energy security. That is the lesson from Ukraine that this Government are addressing by investing in small modular reactors at Sizewell C, but also investing in wi…”

“The best thing we can do to support our high streets and small businesses is ensure that more people have more of their money in their pockets to spend not on the essentials but on the things that they want to do—for instance, in local shops in the hon. Lady’s constituency. That is why we are taking £150 off people’s e…”

“I would be happy to arrange a meeting between my hon. Friend and the responsible Minister. I recognise that this is an issue; it is being raised with me by the trade union Unison, among others. This does not just affect self-employed people; it also affects other people in work.”

“My hon. Friend’s question goes to the heart of the issue. We have done an awful lot in the last year and a half to bring down interest rates and ensure that people have more of their own money in their pockets—and there is more of that to come, with the two-child limit going from April, the £150 off energy bills from A…”

“It is important that we wean ourselves off oil and gas prices that are set on international markets, but I absolutely accept the hon. and learned Gentleman’s point, and I am happy to suggest that the relevant Minister meet him.”

“My hon. Friend speaks with authority about mortgage costs, given the jobs that he did before he became a Member of Parliament. It is true that, since the general election, somebody getting a fixed-rate mortgage will be paying £1,300 less a year than they were when we came into office. That means they have more money to…”

“To help the generation that my hon. Friend speaks about, we have introduced the Renters’ Rights Act 2025, and we are also bringing down interest rates and inflation. That makes it easier to get on the housing ladder but also, crucially, reduces the interest rates on both plan 2 student loans and other students loans, t…”

“My hon. Friend is right about the shadow Chancellor’s blood pressure—but, frankly, I am worried about his future employment prospects. NHS waiting lists are falling because of the money that we have put in, but my hon. Friend makes a point about overall investment in the economy. After lagging behind pretty much every …”

“It is not Shakespeare, but I always say, “Save the best till last.” If we can spend less money on paying the interest on debt, we will have more money to spend on our NHS, on our defence and on keeping taxes down. That is only possible if we return stability to the economy, and the OBR forecast shows that we have the r…”

“I know that the OBR did not publish the forecast until I sat down, but I still think the shadow Chancellor could have done a little bit better than that. To be honest, I was hoping that the Leader of the Opposition was going to respond today; after that performance, I expect she does, too! [Hon. Members: “More!”] Don’t…”

“I thank the Chair of the Energy Security and Net Zero Committee for that important question. He is absolutely right: whether through the successful auction round 7 that we have just completed for investment in new renewable energy, or through the planning reforms to make it even easier to build grid connections and win…”

“The hon. Member gives less an economic programme and more a wish list of things that she would like to see, without any means at all of paying for them. She seems oblivious to the things that the Government are doing. She says that we should have a closer relationship with Europe, and I agree—I said it in my speech—yet…”

“A plan that is even more important in a world that has become yet more uncertain in the last few days. With unfolding conflict in Iran and the middle east, it is incumbent on me and on this Government to chart a course through that uncertainty, to secure our economy against shocks and to protect families from the turbu…”