Budget Resolutions

Sam Carling Excerpts

Monday 1st December 2025 Commons Chamber

[Sam Carling (North West Cambridgeshire) (Lab)]

That is very generous, Madam Deputy Speaker. I am delighted to speak about a Budget that builds on what this Government started last year and takes the necessary decisions to grow the economy and protect working people. With a focus on reducing the cost of living, cutting NHS waiting lists and reducing the national debt, this is a Labour Budget with Labour values.

We have already taken measures to cut the cost of living. We have been improving our energy security, which will bring down energy bills permanently and protect us from the thrall of international markets. We have started rolling out free breakfast clubs in schools, so that parents can get to work on time and kids can start the day ready to learn. We have expanded free school meals and raised the minimum wage, bringing a pay rise to millions of workers.

I am delighted that we are moving forward with further measures. Energy bills are being brought down for households by an average of £150 from April. We are introducing measures to tackle child poverty, which will make this Government the biggest reducers of child poverty since records began. We are lifting over 450,000 children out of poverty and benefiting around 3,200 children in my constituency, according to analysis in the Daily Mirror.

As with last year’s Budget, we see a significant boost to pay for those on the lowest incomes. When the Conservatives, among other parties, decry that by saying that it will impact on inflation, they need to look at the numbers. The OBR forecast shows that Government policy, particularly the energy bills package and the fuel duty freeze, will reduce inflation by 0.4 percentage points in the next financial year. Gilt yields shot down on Wednesday as the Chancellor delivered the Budget. The markets have confidence in our handling of the economy. On Thursday, JPMorgan Chase announced that it will build a new centre at Canary Wharf that will provide 12,000 jobs and boost our economy by £10 billion. That is not the kind of decision that a major player with global reach makes if it does not trust the Government’s handling of the economy. It is a huge vote of trust and mark of confidence in what we are doing.

This is a hugely progressive Budget, as was last year’s. On average, households in the lowest income deciles will benefit most from the decisions taken by this Government from the 2024 Budget onwards. Indeed, by percentage of income, all but the richest 10% of households will benefit from overall policy decisions in 2028-29. When it comes to slashing the cost of living, this Government are backing up their words with real action, reversing the damage done by our predecessors. [Interruption.] Conservative Members are chuntering at me, but I think they need to remember that the last Parliament was pretty much the only one on record in which living standards fell.

People in Peterborough and North West Cambridgeshire are really going to feel the benefits locally. I am delighted that the Chancellor announced £20 million for the new Peterborough sports quarter during her speech. That includes funding for a new Peterborough pool, after the Conservatives closed our regional pool when they ran the council. [Interruption.] Again, I am being chuntered at. The Conservatives closed the pool we had when they ran the council. These are the measures of a Government who are making a difference. By comparison, under our predecessors, living standards were hammered, wage growth was stagnant, and millions more experienced food insecurity.

Labour built the NHS, and we have always been its best custodians. We have proved that in our time in office so far. We promised 2 million extra appointments in our first year, but thanks to massive investment from our first Budget, we hit that target seven months early, and have delivered 5.2 million extra appointments since July 2024. Waiting lists are falling for the first time in 15 years.

[Iqbal Mohamed]

I welcome the investment in the NHS and the reduction in waiting lists for everyone in our country, but does the hon. Member agree that over time, the money that is going to private companies to reduce the waiting lists should be redirected to the NHS, so that profits do not leave the NHS, and there is more money to treat patients?

[Sam Carling]

The hon. Member has made his point. As we heard from the Chancellor, all NHS efficiencies will be reinvested in its budget, and I welcome that. My constituents rarely raise with me the specific way in which their healthcare is being delivered. What they want to know is why they cannot get a GP appointment and why they cannot get to hospital on time. What we are doing will deliver changes.

We must also talk about our national debt. Reducing the debt is a necessary and moral issue. Of every £10 we spend, £1 is spent on Government debt interest. Imagine what we could achieve if we had that money available to invest in our local communities. I am therefore delighted that due to the measures that the Chancellor has announced, combined with the action we took last year, debt as a share of GDP will fall consistently. We will achieve a Budget surplus of £22 billion in 2029-30, which would be the largest surplus for over 20 years.

Let us not forget that the UK was the fastest-growing economy in the G7 for the first half of this year, and both the IMF and the OECD forecast that for 2025 as a whole the UK will have better growth than the eurozone, Canada, Japan, France, Italy and Germany. So while Reform and the Conservatives scream doom and gloom, the Government are quietly getting on with the job. The Budget builds on everything we achieved last year, and I know that we will see the cost of living slashed, debt reduced and NHS waiting lists brought down.