Found: the Conservatives in government in 2021, and has now been followed through by Torsten Bell and Rachel Reeves

Found: the Conservatives in government in 2021, and has now been followed through by Torsten Bell and Rachel Reeves

Found: the coming weeks on the politics of any tax rises, and in particular on the extent to which Rachel Reeves

Found: The Rt Hon Rachel Reeves, Chancellor of the Exchequer HM Treasury 1 Horse Guards Road Westminster

Found: 7219 8586 - Commonsbtc@parliament.uk - www.parliament.uk/CommonsBTC - @CommonsBTC The Rt Hon Rachel Reeves

Found: On 11 June 2025, the Chancellor, Rachel Reeves, announced the outcome of the 2025 Spending Review and

Found: eacom@parliament.uk +44 (0)20 7219 8890 Social: @commonsEAC parliament.uk/eacom Rt Hon Rachel Reeves

Found: low-cost loans and additional funding grants66 in the current sector financial crisis, which Rachel Reeves

Found: 020 7219 8586 - Commonsbtc@parliament.uk - www.parliament.uk/CommonsBTC - @CommonsBTC Rt Hon Rachel Reeves

Found: In opposition, Rachel Reeves had signalled a willingness to negotiate a ‘bespoke’ deal for chemicals,

Found: sector key to UK ambitions, 11 September 2024 43 Q28 44 Q25 45 See Q8; HM Treasury and The Rt Hon Rachel Reeves

Found: Parliamentary activity surrounding the most recent changes The Chancellor of the Exchequer, Rachel Reeves

Found: The new price cap came into effect on 2 September 2025.50 The Chancellor of the Exchequer, Rachel Reeves

Found: would be increased for the first time since 2011.42 At the Budget, Chancellor of the Exchequer Rachel Reeves

We urge Chancellor Rachel Reeves and the Treasury to raise the income tax threshold to £20,000. The frozen £12,570 allowance punishes low earners amid a cost-of-living crisis. This change is vital to ease hardship, reverse fiscal drag, and support struggling families across the UK.

Found: We urge Chancellor Rachel Reeves and the Treasury to raise the income tax threshold to £20,000.

Found: The Chancellor Rachel Reeves announced the fully operational Office for Investment: Financial Services

Found: Chancellor of the Exchequer, Rachel Reeves, said: The previous government sided with the blockers, who

Found: and Treasury take action in tandem, with Yvette Cooper introducing sanctions in parliament and Rachel Reeves

Found: thanks, Rt Hon Liz Kendall MP Secretary of State for Science, Innovation and Technology Rt Hon Rachel Reeves

Found: Chancellor of the Exchequer, Rachel Reeves said: “The outdated planning system has been gummed up by

Found: Riordan, and Joseph Schull have been appointed as new Non-Executive Directors by the Chancellor Rachel Reeves

Found: Chancellor of the Exchequer Rachel Reeves said: Jaguar Land Rover is an iconic British company which

Found: The Chancellor of the Exchequer, Rachel Reeves said: We’re giving local people the power to transform

Found: The Chancellor of the Exchequer, Rachel Reeves said:   We’re giving local people the power to transform

Found: Chancellor of the Exchequer, Rachel Reeves, said: The UK is well and truly open for business under this

Found: The Chancellor of the Exchequer, Rachel Reeves, welcomed US Treasury Secretary, Scott Bessent, to Downing

Found: Rachel Reeves has fired the starting gun on the government’s landmark Regional Investment Summit, pledging

Found: Chancellor Rachel Reeves will today (Friday 18 September) attend the EU finance ministers meeting

Found: tonight by His Royal Highness, the Duke of Gloucester, the Deputy Prime Minister, our Chancellor Rachel Reeves

Found: Threadneedle Street, London, EC2R 8AH +44 (0)20 3461 4444 | www.bankofengland.co.uk The Rt Hon Rachel Reeves

Found: Yours sincerely, RT HON RACHEL REEVES MP Chancellor of the Exchequer

Found: Chancellor of the Exchequer Rachel Reeves said: This commitment from America’s leading financial institutions

Found: at Heathrow Leading planning lawyer Catherine Howard has been appointed to advise Chancellor Rachel Reeves

Found: Chancellor Rachel Reeves said:  This is a plan for good jobs paying decent wages in Wales and beyond

Found: Chancellor of the Exchequer, Rachel Reeves, said: Our economy isn’t broken, but it does feel stuck.

Found: have to tell you, thankfully that’s not the case for me, because my relationship with Chancellor Rachel Reeves

Found: Chancellor Rachel Reeves said:  This is a plan for good jobs paying decent wages in Cardiff, Belfast

Found: Chancellor Rachel Reeves said:  This is a plan for good jobs paying decent wages in Scotland and beyond

Found:

Found: . (£) Total Cost (£) Rachel Reeves 22/04/2025 26/04/2025 Washington D.C., USA International Monetary

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Found: Minister Date Name of Individual or Organisation Purpose of Meeting Rachel Reeves 01/04/2025 Oracle

Found: Given or Received Who gift was given to or received from Value (£) Outcome (Received gifts only) Rachel Reeves

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Found: offered hospitality Type of Hospitality Received Accompanied by Guest Value of Hospitality (£) Rachel Reeves

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Found: Chancellor of the Exchequer Rachel Reeves said: The sickening attack in Manchester was an assault on

Found: thanks, Rt Hon Liz Kendall MP Secretary of State for Science, Innovation and Technology Rt Hon Rachel Reeves

Found: Chancellor of the Exchequer Rachel Reeves said: Jaguar Land Rover is an iconic British company which

Found: The Chancellor of the Exchequer, Rachel Reeves said: We’re giving local people the power to transform

Found: Letters dated 18/09/2025 between Chancellor of the Exchequer Rachel Reeves MP and Governor of the Bank

Found: Letters dated 18/09/2025 between Chancellor of the Exchequer Rachel Reeves MP and Governor of the Bank

Found: McLennan MSP/BPA T: 0300 244 4000 E: scottish.ministers@gov.scot  The Rt Hon Rachel Reeves

Found: Government Shona Robison MSP F/T: 0300 244 4000 E: scottish.ministers@gov.scot  Rt Hon Rachel Reeves

<p>—I'll say <em>su'mae</em> rather than <em>shwmae</em> this afternoon.</p>
<p>Cabinet Secretary, this is an important time in the budget cycle, with Rachel Reeves, the UK Chancellor, set to lay out a budget next month. Of course, that will have a knock-on effect onto the Welsh Government's finances and ability to deliver and spend on public services here in Wales. I hear, I'm sure as you do, from leaders of local authorities up and down Wales who say they're struggling with balancing their books from time to time and dealing with pressures and funding cuts. So, I wonder whether you have any particular wishes for Rachel Reeves's budget coming up, which may be able to support our local authorities up and down Wales, recognising that any funding coming from Westminster is unhypothecated, but may give an indication as to where funding should be directed to ensure that councils are able to deliver those services that people up and down Wales rely on.</p>

<p>Because it gives people the opportunity, as I say, to get on the housing ladder, invest in properties, and be proud to be a home owner, which is something to cherish, I believe.</p>
<p>We would scrap business rates for small businesses, the lifeblood of our high streets, and axe Labour's damaging tourism tax before it even begins—a tax on visitors, jobs and growth. These are practical, low-tax, pro-growth, pro-family measures that would actually make a difference to people's lives. But, instead, this Welsh Labour Government continues to show its anti-aspiration credentials. Their failure to manage public finances responsibly means they've had to raid&nbsp;£36 million from reserves just to plug a hole left by their own colleagues in Westminster. Instead of delving into reserves, they should be putting pressure on Rachel Reeves to scrap the disastrous rise in national insurance. The national insurance rise has caused chaos, with devolved public sector employers in Wales now short-changed by £72 million. That's money ripped out of our health service, our schools and our local councils and GPs. Dentists and small charities are left wondering how they are supposed to meet these new costs. This is what happens when Labour in Cardiff Bay and Labour in Westminster stop listening to the people who actually create jobs and deliver public services.</p>
<p>The leader of the Welsh Conservatives, Darren Millar, wrote to the First Minister with a constructive proposal. He recognised that, given the current parliamentary arithmetic, it would be difficult for Labour to pass a budget on its own. But he also offered an olive branch. So, I say to the Welsh Government, 'Work with us, and take this opportunity to make a real difference to the lives of people in Wales', because if this Government continues down the same tired path—[<em>Interruption</em>.] I'll take an intervention from whoever—</p>

<p>Shall I start? I think that is certainly the aspiration. We need that steel strategy as soon as we possibly can. I think the priorities for us are—. Taking trade defence aside, because that's something that's urgent and has to be done now, we need that action on wholesale energy prices. That's what we'd like to see. We know that's very difficult to achieve, but that is extremely important. We need more action on procurement. It was very encouraging what the Chancellor, Rachel Reeves, said in her speech at the Labour Party conference last week—more action, more incentives to essentially encourage and press public authorities and businesses to use more UK steel. We are supporting a minimum threshold of 30 per cent UK content in all public infrastructure projects. That's an absolute minimum. And we need to lay out, which is going to happen, the key investment opportunities in areas like galv and plate and sections, where we know there are massive opportunities in the UK market, where those investments can be made, and how the Government can support companies to make those investments and match funds. So, investment support, procurement and energy prices are the three key priorities for us.</p>

<p>Clearing up a mess, Cabinet Secretary? It was a so-called £22 billion black hole when Labour came to power. Well, guess what it is now, after Rachel Reeves and only 15 months? It's a £50 billion black hole. That's what Labour does to the economy, it crashes it. Because we've seen it: the 30-year gilt at the highest since 1998; the Office for Budget&nbsp;Responsibility is preparing to downgrade growth and productivity forecasts; and we know that that £22 billion black hole has more than doubled to £50 billion, showing that Labour can't be trusted with the economy. That means there'll be less investment, fewer opportunities and greater pressure on households and businesses here in Wales. So, in light of this, how can the Welsh Government credibly defend Labour's record on economic management?</p>

<p>Cabinet Secretary, you may not wish to speculate what's in the budget, but we know what's going to come from the Labour Chancellor, because it's always the same economic mismanagement: higher taxes, higher unemployment and people and businesses worse off. Because, under Rachel Reeves, the yields on 30-year UK Government bonds has climbed to 5.73 per cent, the highest level since 1998—higher than any time under a Conservative Government. For Wales, such record borrowing costs risk squeezing public finances and curbing investment in growth and infrastructure. So, what risks do you see this creating for Welsh economic policy, and how should the Welsh Government respond to safeguard Wales's interests?</p>

<p>Thank you, Cabinet Secretary. Sadly, Rachel Reeves will be in the driving seat when it comes to tackling pensioners' poverty and she has already made it clear that older people will bear the brunt of welfare cuts. One in four older people in Wales receive state benefits in addition to their state pension. Age Cymru found that older people in receipt of state benefits were more likely to report other challenges than those not receiving benefits, including their physical health, the cost of living, mental and emotional health and problems with loneliness and isolation. And older people are still upset about the decision to means test their winter fuel payment, even after the partial climbdown forced on the Treasury by opposition from their own benches. Cabinet Secretary, what discussions have you had with your Westminster colleagues regarding the impact that decisions are having on older people across Wales, and will you urge the Treasury to tackle poverty among older people in its autumn budget?</p>

<p>The current Labour UK Government inherited inflation at the Bank of England's target rate of 2 per cent, and deficit levels of only 40 per cent of those inherited in 2010 by the Conservative UK Government, despite the financial shocks caused by the global pandemic and the global cost-of-living crisis. As I warned here in March, budget decisions by Chancellor Rachel Reeves remain the No. 1 barrier to economic growth, and the No. 1 domestic contributor to cost-of-living increases, stoking inflation, and borrowing costs have since hit a 27-year high. The International Monetary Fund has warned that Rachel Reeves will have to increase taxes further or make cuts, and leading economists, including the former head of the National Institute of Economic and Social Research and a former member of the Bank of England’s Monetary Policy Committee, have highlighted the risk of a repeat of the crisis in 1976, when a Labour Chancellor was forced to go cap in hand to the IMF for a bail-out, requiring substantial cuts in public spending. I remember it well; I’m sure you do also. What contingency plans are you therefore putting in place with local authorities to manage the risk of this?</p>