Chancellor prompts laughter from Tory MPs over claim about public finances
Rachel Reeves sparked laughter in the Commons from opposition MPs when she boasted about Labour bringing “stability for our public finances”. The Chancellor kicked off her statement by defending her tax hikes in her first Budget last year.
But she prompted laughter from Tory MPs when she said the Government had brought “stability for our public finances”. Ms Reeves said: “We are rebuilding our economy. Over the last 16 months, we have overhauled our planning system to get Britain building.
“Forged new trade deals with the United States, India and the EU. Reformed our visa system to bring the brightest and best to Britain.
“We changed the fiscal rules we inherited from the Conservatives and raised public investment to its highest level in four decades.
“And in last year’s Budget, I raised taxes on business and the wealthiest to close the £22 billion black hole in the public finances left by the party opposite.
“And we used that money to fund the biggest ever settlement for our NHS. They were the fair and necessary choices. And we faced opposition to them.”
Chancellor Rachel Reeves delivers in Budget in the Commons (Image: BBC)
She added: “We made these choices for a reason because after 14 years of Conservative government working people demanded and deserved change.
“Investment not cuts to our public services. Stability for our public finances, the single most important factor in getting the cost of living down. And economic growth, the best means to improve wages, create jobs and support public services.
“That is what our plan, that is what this Government and our Prime Minister are all about.”
But Tory MP Matt Vickers insisted that Ms Reeves “hasn’t got a clue”.
He said: “Rachel Reeves says she has ‘brought stability’ to our economy. What planet is she living on?
“Unemployment has surged. Tax at record levels. Inflation has almost doubled. Growth is going in the wrong direction. She hasn’t got a clue.”
