Dan Tomlinson MP: speeches

Speeches

• 10 Mar 2026 · High Street Businesses: Tax Changes · Hansard source

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  We will be working across Government on the high streets strategy. Treasury Ministers will be working with colleagues in the Ministry of Housing, Communities and Local Government and the Department for Business and Trade. We will make progress on that in the coming weeks, with the strategy to report by the end of the year. We are in the process of working on the details of plans for the review of the pubs and hotels valuation methodology, and I will be happy to engage with my hon. Friend and Members from across the House to get that on a firmer footing for the future.

• 3 Feb 2026 · Taxation: Small and Medium-sized Enterprises · Hansard source

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  Three quarters will see their business rates fall or stay the same this year. Then, those rates will be frozen for two years. The crucial point, which relates to whether it is delayed or not, is that we are launching a review of the methodology that is used to assess pubs. I am sure that this issue will have come up in the roundtable on business rates organised by my hon. Friend the Member for York Central (Rachael Maskell) with businesses in her constituency, and in the engagement that other Members have with businesses in their constituencies. Pubs are valued in a relatively distinct way: their takings are used to assess their value, rather than their floor space. That can be quite opaque for pubs. It can also mean that increases in their business rates can appear to be the result of higher takings but really just reflect underlying increases in higher costs, so they can feel like they are running to stand still. We will therefore look closely at the methodology used to value pubs, and hotels, and I hope that we can find a long-term—indeed, permanent—solution in time for the next revaluation, which will come in 2029, as planned. I will respond briefly to the point that was made about the increase from £800 to £1,600. I urge the hon. Member to check with the particular pub that he mentioned, but I assume it will be the case—each business is different, and I should not comment on individual businesses precisely—that the 15% relief will probably apply there too now, so there should not be a further £800 increase. I note, of course, that there is an increase for that business, as he set out. We are also publishing a high streets strategy. We will work on that in the coming months and it will be a cross-Government effort. Yes, the Treasury will be involved, but so will Departments such as the Home Office, so that we can support businesses that are struggling with shoplifting. We will also work with the Department for Business and Trade, and with the Ministry of Housing, Communities and Local Government. I hope that I have responded to a range of points that were made in the debate, and I thank Members for their contributions to it. In the coming months, in my role as Exchequer Secretary I will of course continue to engage with businesses—small and large—on the important points that have been raised today, to see what more the Government can do to support them as they seek to grow, to support employment in their communities, and to support the life and vibrancy of our high streets and town centres.

• 27 Jan 2026 · Business Rates · Hansard source

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  We are keen to hear from businesses, large and small, about what more the Government can do to support high streets. We want to engage on lots of issues affecting high streets, including planning, licensing and crime, and the direct investment that we can make in our communities. There is a lot to do, because we had 14 years under the Conservatives where our high streets were in decay and shops were shutting. We had 7,000 pubs closing and businesses struggling across the country. We know that there is work to do, and I look forward to working with my hon. Friend and other Members on it.

• 12 Jan 2026 · Finance (No. 2) Bill · Hansard source

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  The main drivers of rental prices in the UK are supply and demand. The Government are seeking to do all we can to reform and improve our planning system to increase the number of homes being built. If Liberal Democrat Members are keen on making sure that we support households with the cost of living, I hope they will change their approach to their votes in this place on our planning reforms, which are vital for supporting families with the cost of living and for lowering the cost of renting and owning their own home. As I was saying, this change will narrow the gap between the tax paid on work and the tax paid on income from assets.

• 12 Jan 2026 · Finance (No. 2) Bill · Hansard source

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  I thank my hon. Friend for that intervention, which gives me a chance to repeat clearly that these changes are a 2 percentage point increase. The tax rates will increase from 20% to 22%, from 40% to 42% and from 45% to 47%. That does not add a significant—or any real—complication to the tax system. We are changing the rates in a way that is fair, closing the difference in taxation treatment between those who receive their income from employment and those who receive their income from assets. My hon. Friend’s speech was really helpful in bringing comparative evidence to the debate. I hope he will send that my way for review. Opposition Members who asked about changes made in other countries may be interested in reading that evidence, too. He also provided a helpful exposition on the economic theory sitting behind some of these changes and the need to ensure that our taxation system incentivises people to make investments and good decisions for the long-term health of our economy. He touched on the crucial point—it is worth making this clearly—repeatedly pointed out by many tax experts and tax commentators that one challenge in the UK’s taxation system is that we treat income received from different sources very differently, which can lead to distortions. It is better to ensure that we do what we can to reduce the gaps between the tax treatment of different sorts of income. [ Interruption. ] I am happy to refer to Opposition Members’ utterances —they have been shouting out the word “risk.” I make the point that there is still an incentive in the system as taxation levels have not closed completely. [ Interruption. ] Yes, it is smaller—hon. Members gesture as such, and they are correct that the gap has closed—but there are still significant incentives for people to set up their businesses and income streams in certain ways to increase their income. Let me now turn to the contribution from the hon. Member for St Albans (Daisy Cooper), who helpfully mentioned the performance of HMRC, the Department for which I am the Minister with responsibility. She is right to say that we need to have a laser focus on customer service. The performance in terms of missed calls—that is, calls that are not picked up because someone hangs up before they are answered—is improving under this Government. I think that is progress— [ Interruption. ] The hon. Member for St Albans specifically raised the performance of HMRC in her remarks, and it is only right and proper for me to mention that. The hon. Member also raised the impact of these changes on rents; of course the Government will continue to monitor the impact of taxation changes on the rental market. One crucial thing we can do to support private renters is to increase the supply of housing to push down the price of rents in the long term. To begin to conclude—[Hon. Members: “Hear, hear!”] To begin to conclude— [ Interruption. ] Did someone say they wanted to intervene? No? In that case, I hope I have been able to—

• 12 Jan 2026 · Finance (No. 2) Bill · Hansard source

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  It is right to be precise, and I was being precise about the rates themselves, which are not changing. The right hon. Member raises the effective tax rate, which is a point I understand. On the specifics of what I said, I was talking about borrowing rather than debt, and borrowing is falling significantly over the course of the forecast. It is the fastest reduction in the G7, as far as I am aware, on the latest data. He is right that debt is broadly stable, but is falling, in the year that the fiscal rules are relevant, as a share of GDP, which is the traditional and I think more economically relevant way of assessing the stock of Government debt as a share of the economy. One of the ways our country was able to reduce the debt we took on after the second world war was through growing our economy and the debt becoming a smaller share of GDP, and that is something this Government will seek to do through continuing to beat the forecast when it comes to economic growth. Clauses 4 to 8 will raise the tax rates for property, savings and dividend income to ensure that income from assets is taxed more fairly. Those with property, savings or dividend income currently pay lower rates of tax than those whose income comes from employment as they do not pay national insurance contributions. It is not fair that the tax system treats these types of income so differently. For example, it is not fair that a renter pays a higher rate of tax on their income than the landlord from whom they are renting their property.

• 12 Jan 2026 · Finance (No. 2) Bill · Hansard source

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  I thank the hon. Member for raising the crofting sector and the rural communities that he represents. The Government will continue to do all we can to support different types of farmers, and to make sure that we can support tenant farmers too. I thank him for raising that point and for the representation that he provides to his constituents. The changes made by clause 62, schedule 12 and Government amendments 24 to 29 will reform how we target agricultural property relief and business property relief from 6 April this year.

• 12 Jan 2026 · Finance (No. 2) Bill · Hansard source

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  I thank Members across the Committee, particularly those on the Labour Benches, for their contributions today. I believe that other things going on in the Palace today have drawn other Labour Members to Committee Rooms, but I am very glad that my hon. Friend the Member for Loughborough (Dr Sandher) chose to prioritise speaking in this important Finance (No. 2) Bill debate. I thank him for that. I will respond to the points that have been raised in this all-too-brief debate on this group of important clauses. It is always a pleasure to stand at the Dispatch Box opposite the shadow Financial Secretary, the hon. Member for Grantham and Bourne (Gareth Davies). It was enjoyable to hear a history lesson rather than a selection of poetry or literary references, which I often get when I am opposite the shadow Chancellor, the right hon. Member for Central Devon (Sir Mel Stride). The shadow Financial Secretary noted correctly that income tax was originally introduced as a temporary measure. Running through my mind are the taxes introduced by the 2010-2024 Government that were initially announced as temporary but are still with us—but I will not comment on those, for reasons he may understand. The shadow Financial Secretary mentioned my constituency, and I thank him for giving me a chance to talk about Chipping Barnet. He questioned what the tax rises are for. I can tell him that in the area that I know best NHS waiting lists are falling for the first time in a very long time, and the number of police officers is increasing after having been cut significantly. We are also opening breakfast clubs in primary schools. Those changes happening in my patch are happening across the country. That investment in our public services has been enabled by the tax changes that this Government have made. We are raising revenue in a sustainable and fair way in order to ensure that we can fund our public services and keep borrowing on a downward trajectory. The shadow Financial Secretary raised the change landlord income tax—the two percentage point increase. I fully understand, as does he, that there are many reasons why people end up becoming landlords. We want to make sure that the taxation is fair and reasonable, which is why landlords do not pay national insurance in the way that their tenants do, and it is why we have taken steps to reduce—but not close in full—the gap in tax treatment, with the two percentage point increase. Landlords will still typically pay a lower rate of tax than their tenants, but the gap will be reduced following the measures set out today. The shadow Financial Secretary, and other Members in interventions, mentioned the changes on dividend taxation. The main takeaway from the Office for Budget Responsibility is that it does not expect the changes to dividend taxation announced at the Budget a few short weeks ago to have a significant impact on business investment. Business investment is forecast to continue to grow over the course of the OBR’s five-year forecast horizon. That is good news, because one thing that we know we need to do in this country is turn around the long-term weakness in investment—by both public and private sector—that has driven our long-term productivity and growth underperformance. That under-investment over the last 30 years is an issue that both major parties—and the Liberal Democrats for their time in the first five years of the coalition Government—should take responsibility for. I believe that in 24 of the last 30 years—that stat may now be one year out of date; I will have to update it for next time—the UK had the lowest rate of investment of any G7 economy. Until we can start to turn that around through higher public and private sector investment, our economy will not be able to fire on all cylinders, as this Government would like it to. Let me turn to new clauses 2 and 12. New clause 2 would require the Government, within three months of the Act coming into force, to lay before the House of Commons an assessment of the impact of the implementation of section 7 of the Act on rent prices. New clause 12 seeks to require the Government, within six months of the Act coming into force, to publish an assessment of the impact of the changes introduced by sections 6, 7 and 8 on the private rental sector in England, Wales, Scotland and Northern Ireland. As hon. Members will be aware, the Office for Budget Responsibility engages closely with the Treasury on the potential impacts of policy measures as part of standard Budget processes, and the OBR does not expect that the reform to property income will have a significant impact on rental prices in the forecast horizon. As I said, the economic literature points to rental prices being determined by the balance of supply and demand in the market, not just the cost facing landlords. The housing market proved to be more resilient than expected in 2025, and as interest rates fall further we hope that will reduce costs for landlords, too.

• 12 Jan 2026 · Finance (No. 2) Bill · Hansard source

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  I thank my hon. Friend for that intervention and for giving me the chance to reiterate this Government’s focus on economic growth and on providing economic stability. Last year, the OBR forecast that the economy would grow by 1% but it then revised that up to 1.5%. That is a 50% increase in our growth forecast. Of course, we need to continue to redouble our efforts as a Government, going further and faster when it comes to supporting economic growth, so that we can see rising living standards in every single part of the country. That is core to our plan. We do not want to see people continuing to suffer. The last Parliament was the worst on record for living standards, and it is no surprise that the British people decided to boot out the Conservatives and replace them with a Government who are laser-focused on improving the cost of living and improving living standards, both through the changes we are making—including in the Finance Bill to support our public finances—and, as my hon. Friend mentions, through continuing to partner with business to unlock private sector investment and increase economic growth. The changes that we are making to planning do not just support more houses being built and more residential development, which of course we need for the reasons we have discussed; they should also make it easier for us to build large infrastructure projects to support economic growth—including new nuclear power stations, which the Conservatives continually did not invest in—and to get our long-term growth and productivity rates up. By keeping the clauses in the Bill unchanged, we will raise additional revenue from those who are undertaxed relative to most employees. As I have said, the changes on dividend savings and property income will raise an additional £2.2 billion in the coming years, which will help us to repair and improve our public finances. The changes will also enable us to reduce the contribution that we are asking of working people through the threshold freezes. By making changes such as the introduction of the electric vehicle excise duty and the reduction in relief for those who are selling their businesses to employee ownership trusts, we are making it possible to reduce the ask of working people. That is in sharp contrast to the position set out by the shadow Chancellor, the right hon. Member for Central Devon, who said that if he was in Labour’s position, he would be increasing the rates of income tax. Rather than doing that, we will ensure that this Government stay true to their manifesto commitments on tax and the public finances, with borrowing falling in every year of the OBR’s forecast. I therefore urge the Committee to reject new clause 2 and new clauses 10 to 12, and to support the inclusion in the Bill of clauses 1 to 6, schedule 1, clauses 7 and 8 and schedule 2. Question put and agreed to. Clause 1 accordingly ordered to stand part of the Bill . Clauses 2 to 6 ordered to stand part of the Bill . Schedule 1 agreed to . Clauses 7 and 8 ordered to stand part of the Bill . Schedule 2 agreed to . New Clause 12 “(1) The Chancellor of the Exchequer must, within six months of this Act being passed, publish an assessment of the impact of the changes introduced by sections 6, 7, and 8 of this Act on the private rental sector in England, Wales, Scotland, and Northern Ireland. (2) The assessment made under subsection (1) must consider - (a) the effects of the provisions of sections 6, 7, and 8 on the cost of private rent in each region within England, Wales, Scotland, and Northern Ireland, (b) the effects of the provisions of sections 6, 7, and 8 on the supply of private rental properties in each region within England, Wales, Scotland, and Northern Ireland, (c) any other implications of the changes introduced by sections 6, 7, and 8 of this Act.”— (Gareth Davies.) This new clause requires the Secretary of State to publish an assessment of the impact of imposing new rates of income tax on property income. Brought up, and read the First time. Question put, That the clause be read a Second time.

• 17 Dec 2025 · National Insurance Contributions (Employer Pensions Contributions) Bill · Hansard source

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  Thank you, Madam Deputy Speaker, for bringing the Front Benchers on both sides to heel at just the right time, before I make the closing remarks. It is a pleasure to close this Second Reading debate, and I thank all Members on both sides of the House for their contributions. I thank my hon. Friend the Member for Dartford (Jim Dickson) for his contribution and his brief foray—and it was brief—into broader points around the Budget, which I did appreciate. I will try to minimise doing so in my remarks. The shadow Minister, the hon. Member for North Bedfordshire (Richard Fuller), raised a few points. While he is whispering over there, I will confirm to him that the costing provided by the OBR accounts for the dynamic effects of this policy. The costing itself has been certified by the OBR. The reason why the change does not come in for a number of years is because it will give businesses time to plan, which we think is an important thing to do when we are making significant changes to the pension system. This is an important Bill, if small. This is an important debate to have, although it has felt somewhat rushed given that it has come after the many final-week statements and urgent questions today. But that has given me a bit more time to prepare some remarks, which I have hastily cut down from the 30 minutes I was planning; we will see whether we can make faster progress than that for the sake of all concerned. In my extra time this afternoon, I thought I would attempt to shoehorn a Christmas theme into my closing remarks, given that this will be the last time the House divides before Christmas. Very briefly, I present “The Twelve Numbers of Christmas: the Salary Sacrifice Edition”. I start with 12 words from Baron Hammond of Runnymede on how some employees are, in his words, “able to sacrifice salary…and pay much lower tax….That is unfair”. —[ Official Report , 23 November 2016; Vol. 617, c. 907.] The Whips can count, and I can see that they have counted that as 12 words—very good. It is clear that even 10 years ago the Conservative party was aware of issues with salary sacrifice schemes. They knew that we must ensure that significant tax reliefs totalling £75 billion a year are properly targeted. That is why we are capping pension salary sacrifice contributions at £2,000. Let us be clear: we are not removing pension tax relief, just the ability for unlimited relief via salary sacrifice, which many people cannot access in any case. That brings me to my No. 11. Those earning £11, £12 or £13 an hour at the national minimum wage or the national living wage cannot make use of salary sacrifice schemes because if they sacrificed their salary, they would be paid less than the minimum. It is the richest who benefit the most from these schemes.

• 16 Dec 2025 · Finance (No. 2) Bill · Hansard source

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  If I may, I will try to make some progress so that other hon. Members are able to contribute. This Government are delivering growth and are focused on driving investment in our economy. As I said earlier, whole-economy investment has risen by 4.2% in real terms since the start of the year, outperforming the OBR’s March forecast of a decline of 0.1%. As the shadow Chancellor will know, Britain has outperformed its growth forecast this year, with growth in 2025 upgraded to 1.5% from 1% in March. Beyond growth, this Bill delivers a set of responsible choices that safeguard our economy and prepare us for the future. We have been clear that in order to achieve that we have had to take the decision to ask everyone to contribute more at the end of the decade to protect our public services. After a freeze that was initiated by the previous Government, this Bill maintains income tax thresholds for employees and the self-employed at current levels for a further three years, from April 2028 to April 2031. That is a fair choice. In 2029-30, three-quarters of the revenue from maintaining income tax and employee, self-employed and national insurance contribution thresholds is expected to come from the top half of households. The Bill also takes action to ensure that income from assets is taxed more fairly, raising £2.2 billion in 2029-30 by increasing taxes on property dividend and savings interest income. The Government are narrowing the gap between taxes paid on work and taxes paid on income from assets. At the moment, for example, a tenant will pay national insurance on their income, and a landlord will not. With the extra 2p, we will be closing the gap between tax rates on landlords and on tenants. In 2029-30 around two-thirds of revenue from increases to dividend property and savings interest tax rates is expected to come from the top 20% of households. Importantly, there are choices we have not taken—choices that previous Governments have taken to borrow more in a fiscally irresponsible way, or to return to austerity, which would undermine our economy and society. We have also chosen not to increase the rate of corporation tax, and we have stuck to our corporation tax road map. It is important that those with the broadest shoulders contribute more to protect our vital public services, and the Bill delivers previously announced reforms to tax wealth fairly, including a revised tax regime for carried interest. That sits wholly within the income tax framework to ensure that reward is taxed in line with its economic characteristics, removing the opportunity for individuals to use pensions as a vehicle for inheritance tax by bringing unspent pots into the scope of inheritance tax, and by reforming agricultural property relief and business property relief, while ensuring that any of the £1 million allowance for the 100% rate that is unused will be transferable between spouses and civil partners. Those decisions build on our action in the previous Finance Bill, including abolishing the non-dom tax status, ending tax breaks for private school fees, and raising the rates of capital gains tax. That currently raises £14 billion a year, with revenue expected to more than double to around £30 billion by 2030-31. Fair choices also mean delivering justice for those affected by the infected blood scandal. The Government will extend the existing inheritance tax relief for infected blood compensation payments, so that if an infected or affected person has already died when compensation is paid, inheritance tax relief will instead apply on the death of the first living recipient of the compensation payment. Fair choices in a Finance Bill also mean tackling serious reforms that have been ducked for too long. That means reforming tax reliefs that, while intentioned, have exploded in cost in recent years. This Government are reforming capital gains tax relief, which has allowed wealthy business owners to sell their shares without paying any capital gains tax. We are reducing the relief available for business owners who are selling their businesses to employee ownership trusts from 100% to 50%—a relief that the previous Government expected to cost less than £100 million a year in 2018-19, although published figures now show that the cost of the capital gains tax relief reached £600 million in 2021. Without any action, forecasts suggest that that could rise to more than 20 times the original costing, to £2 billion by 2028-29.

• 12 Nov 2025 · Taxes · Hansard source

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  Hon. Members want more! Okay. If this debate has taught us anything, it is simply this: not only do the Conservatives need to stay in opposition for longer, but I am sure that they will do so. So far, they have learned nothing from their time on the Government Benches. There is no humility for their mini-Budget, no plan for giving Britain a brighter future, and no grasp of the realities that the country and the world face. They also have no will to face up to reality, to show leadership or to make choices that will support our public services, businesses and citizens. Meanwhile, this Government have given the country the fastest growth in the G7 in the first half of the year. We have raised wages and living standards, and the Bank of England has cut interest rates five times because of the economic stability we have brought, which has reduced mortgage payments and lowered the cost of borrowing. This Government have increased public investment in capital spending by over £120 billion over the course of this Parliament, building for the future—something that the Conservative party failed to do. That is the difference that a Government with British values at their heart can make. At this month’s Budget, we will put those values into practice again, with fairness and opportunity for all so that we can secure our economy, strengthen our public services and lift living standards for the British people. Question put.

• 4 Nov 2025 · Agricultural and Business Property Relief: Impact on Farmers · Hansard source

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  Ministers from Government Departments have met organisations including the National Farmers’ Union, the Tenant Farmers Association, the Country Land and Business Association, the Central Association of Agricultural Valuers, the Ulster Farmers’ Union, and the NFU in Scotland and Wales. I also met farmers in the north-east of England only last month. After listening and considering the independent Centre for the Analysis of Taxation report, the Government believe that the approach we have set out is an appropriate one.

• 3 Sept 2025 · Property Taxes · Hansard source

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  I thank the right hon. Member for his intervention. I would ask him if I could whether he could identify £40 billion of spending cuts, if he wants to have £40 billion of tax cuts. I do not want to see NHS waiting lists grow in my constituency, in his constituency, or in any of the constituencies that we all have the privilege of representing. The tax changes that have been introduced demonstrate the fundamental truth of politics in 2025. The bedrock of this Labour Government is fiscal responsibility, while the cornerstone of the Conservatives’ economic plans is fiscal fantasy. It is simply incredible that they have opposed every single one of the tax increases that we have put forward. Willing the ends without having any of the means is coming to define the economic policy of the Conservatives. Frankly, it should concern us all how unserious they have become. As my hon. Friend the Member for Gateshead Central and Whickham (Mark Ferguson) said, it is clear that the Conservatives are enjoying the comfort and ease of opposition. Long may that continue. I must say, it is surprising that the Conservatives would wish to raise the subject of property, given their abysmal record in that area. There can be no doubt that a big part of the mandate that this Government were given was to build more homes. The public had grown weary of years of sluggish growth, and over-budget projects that were first stalled, and then delayed. The public needed change; they needed us to build for this country’s future, and that is what we are setting about doing. From infrastructure to planning reforms, which I have been championing for the last year, and our mission to build 1.5 million new homes. The Government have put housing at the heart of our approach, which will create jobs and opportunities for those who build the homes, and give families and individuals the opportunity to call somewhere home. As I said when I gave my maiden speech from a few rows back, housing is central to my politics. The aspiration of everyday families up and down this country is to have a home to call their own, maybe with a garden and a spot to park their car, in a community supported by public services that work. People do not want the world delivered to them on a plate by Government. They just want a good life for themselves and those they love. Building more housing and improving public services are essential ingredients of meeting their aspirations. I have made many notes on all the fantastic contributions from Members on both sides of the House, but I can see that Madam Deputy Speaker thinks that it is almost time for me to conclude, and I am sure that the Opposition Whip thinks so. [ Interruption. ] Ah, it turns out that there is more time, so I shall begin with my hon. Friend the Member for Milton Keynes Central (Emily Darlington), who made a powerful intervention about the success of Milton Keynes city council, and the importance of this Government investing in public services. The hon. Member for Bromley and Biggin Hill (Peter Fortune) gave a powerful example of house prices in his constituency, showing how prices have surged in this city—I know that, as I represent a north London seat—but that is why we must build more homes. I hope that he will support all the planning reforms going through this House, and the reforms that will come soon, because we need them to bring down house prices and improve the living standards of people in this country. The hon. Member for Farnham and Bordon (Gregory Stafford) made an interesting and thoughtful intervention about support for pensioners, but he should talk to the shadow Chancellor, the right hon. Member for Central Devon (Sir Mel Stride), who has said that the triple lock is unsustainable—a view with which the Government do not agree. I would like to give a pleasant mention to my hon. Friends the Members for North East Derbyshire (Louise Sandher-Jones), and for Loughborough (Dr Sandher). I congratulate them on their marriage over the summer. It is fantastic to see them both contribute to the debate, and they both bring so much to the Labour Benches. My hon. Friend the Member for Birmingham Northfield (Laurence Turner) had a very good line on Liz Truss. He said that her dreams became our constituents’ nightmares, which is very true. We know it, and I think the Conservatives do, too. I will certainly be stealing that line for future contributions in this House. To conclude, as the new Exchequer Secretary to the Treasury, I look forward to returning to this Chamber and to Committee corridor on many occasions to discuss tax policy. The people of this country work hard for everything that they earn. They deserve an efficient and fair tax system, whether that tax relates to property or other areas, and for Governments to spend every penny of public money wisely. That is why everything we do is underpinned by fiscal stability, our sticking to our rules, and our managing the public finances well in this uncertain world. We do not turn to more borrowing, as Liz Truss did or the hon. Member for Clacton (Nigel Farage) would, but put economic stability at the heart of all we do. That is the foundation for what really matters: higher growth for higher living standards in every part of the country. That is what this Government are working every day to deliver. We are working to lift the crushing burden of the cost of living crisis, to back those who want to invest in the future of this country, and to give as many people as possible a home that they can call their own. That is the future that I fought for on the Back Benches, and that is the future that this Government can and will deliver. Question put.

• 14 Jul 2025 · Topical Questions · Hansard source

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  I know that reducing deprivation is a cause close to the hearts of all Ministers. What view do they have on the extent to which high housing costs contribute to deprivation and should be taken into account when we consider funding for our local councils?