Oral Answers to Questions

Tom Hayes Excerpts

Tuesday 9th December 2025 Commons Chamber

[The Exchequer Secretary to the Treasury (Dan Tomlinson)]

Let us be clear: nobody’s business rate bills are trebling. If businesses come to talk to us about increases in their rateable values because of the unwinding of the effect of the pandemic, it is important that all of us, on both sides of the House, are clear that the Government have put in support to ensure that pubs and those that have seen their values go up will not see increases next year. If the pubs rateable value is more than £100,000, they will be capped at a 30% increase. If it is less, they will be capped at 15% or £800. That is £4 billion of support that this Government are providing.

[Tom Hayes (Bournemouth East) (Lab)]

An independent and effective OBR is critical for our country, but it needs to do better. Why can the OBR not count? Why can it not forecast accurately, given that the economy grew 50% faster than it had predicted in March? Why can it not even publish the Budget document without making a dog’s breakfast of it? Is it not time for the OBR to properly price pro-growth measures and get behind our growth mindset?

[James Murray]

I can be clear that we are committed to the OBR’s independence as a forecaster and to the core role it plays within our fiscal framework. The Chancellor has also been clear, however, that forecasts are not our destiny. We will not let Britain be held back by the failures of the previous Government. At the Budget, the OBR revised upward its growth estimate for this year, and we are determined to exceed forecasts again.