Tax Increases Debate

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Department: HM Treasury
Thursday 10th July 2025

(1 day, 22 hours ago)

Lords Chamber
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Lord Livermore Portrait Lord Livermore (Lab)
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It is 3% in the next Parliament. I think those commitments are for the Parliament after next.

Lord Altrincham Portrait Lord Altrincham (Con)
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My Lords, with rather delicate timing, the OBR published its Fiscal Risks and Sustainability report on Tuesday. It used the word “daunting” for our fiscal sustainability outlook. It expects health-related outflows to fall a little, not overall but towards the levels of a few years ago. How will the Government explain to the OBR the positioning of the outlook for personal independence payments?

Lord Livermore Portrait Lord Livermore (Lab)
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The OBR is aware of the Government’s policy. It is for it to certify the costings of that policy in its next forecast. As I have said, we will ask it for that forecast in time for the annual Budget and make decisions based on that.