Budget: Press Briefings

Lord Bishop of Hereford Excerpts

Tuesday 18th November 2025 Lords Chamber

[Lord Livermore (Lab)]

The noble Lord is far more experienced in these matters than I am, but he will know very well that there is always speculation ahead of a Budget. I do not think there is anything unusual about that. I am slightly unclear whether I am being told that speculation is wrong or being invited to speculate. As I have been clear, I am not going to comment on the Budget process, on speculation ahead of the Budget or on any individual tax measures.

[The Lord Bishop of Hereford]

My Lords, over the last few months not only have the bond markets been affected by this speculation, but people have made life-changing financial decisions, in part fuelled by speculation rooted in private government press briefings. These decisions may prove to be unwise when the Government’s actual decisions are revealed. Have the Government considered other, less damaging means of gauging public opinion than fishing through the media?

[Lord Livermore (Lab)]

The right reverend Prelate says that the Government are the source for this speculation when he has no such evidence for that. I am not going to comment on the ongoing Budget process, as I say, nor on the speculation that is perfectly usual ahead of a Budget.