Earl Russell
Main Page: Earl Russell (Liberal Democrat - Excepted Hereditary)Department Debates - View all Earl Russell's debates with the HM Treasury
(1 day, 21 hours ago)
Lords ChamberRead Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
Lord Livermore (Lab)
My noble friend is absolutely correct to say that we need a different approach to the economy from the one we had over the past 14 years, and he will have seen how we are delivering on that. He will know that living standards are forecast to grow over four times faster than in the previous Parliament, and real wages have already grown by more in the first 10 months of this Government than in the first 10 years of the previous Conservative Government. He will know that, in answer to the question opposite, GDP per capita is forecast to rise by 5.6% over this Parliament. Under the last Labour Government, productivity growth was the second fastest in the G7. Under the Tories, it fell to the second slowest in the G7.
Earl Russell (LD)
My Lords, does the Minister agree with the new chair of the Climate Change Committee, who warned today that any weakening or changing of our environmental policies would spook the markets and undermine growth?
Lord Livermore (Lab)
The noble Lord referred to “our” policies. I am pleased that he agrees with our policies. Absolutely, we are committed to delivering net zero in the way that we have set out.