Government Performance against Fiscal Rules

Daisy Cooper Excerpts

Monday 7th July 2025 Commons Chamber

[Madam Deputy Speaker (Caroline Nokes)]

I call the Liberal Democrat spokesperson.

[Daisy Cooper (St Albans) (LD)]

We all know the Government had a terrible inheritance from the previous Government, whether it was the incompetence of covid contracts, the mini-Budget or the botched Brexit deal. But at the same time, last year’s Labour Budget was a Treasury tax grab with no vision for the economy and no regard to the impact on small and medium-sized businesses and key sectors like hospitality and social care. We Liberal Democrats want to see things getting better in this country for our constituents and for the country. In the spirit of constructive opposition, I will ask the Minister a number of questions. When will the Government get serious about growth through a much deeper trading deal with Europe? Will Ministers look at fairer revenue raisers, such as reversing the Conservatives’ tax cuts for the big banks and raising revenue from tech giants and online gaming and gambling companies? Will the Prime Minister make a public statement to calm the markets and avoid four months of speculation about what might be in the next Budget? Will the Government commission an interim Office for Budget Responsibility report now?

[Madam Deputy Speaker]

Order. The same strictures apply to the Liberal Democrats—one more sentence.

[Daisy Cooper]

I am grateful for your guidance, Madam Deputy Speaker. Can the Government confirm that they will not raid capital budgets to fix crumbling hospitals and to pay for day-to-day spending, and will the Minister confirm the date for the autumn Budget?

[Darren Jones]

The hon. Lady encourages me to act above my pay grade. The Chancellor will set out the date for the autumn Budget in due course. The hon. Lady invited me to explain to the House what our strategy was at the Budget—it was about investing in the renewal of Britain. That is why the Chancellor’s decision to update the fiscal rules to allow billions of pounds of investment in our capital infrastructure across the country, including into schools and hospitals, was the reason that the Budget was set out as it was. She also asked me about trade deals. I politely point to the three trade deals that the Government have already agreed with the European Union, India and the United States of America, saving thousands of jobs across the UK and generating growth in the years ahead.