Richard Fuller MP: speeches 2026

Speeches

• 14 Sept 2026 · Sovereign Grant Bill · Hansard source

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  I thank the Minister for his clear exposition of the Bill’s clauses. He emphasised the importance of the 2026 royal trustees’ review. The interesting thing is that it is their forecast of their needs over the next five years on which a lot of the mechanism rests. Notwithstanding some comments made by Government Back Benchers, a lot of the intention of the Bill is about financial restrictions on expenditure, rather than there being excess expenditure in the future. I am grateful for the Minister’s letter to my hon. Friend the Member for Dumfries and Galloway (John Cooper); in his summing up, will the Minister give a bit more comfort and clarity on some of those matters? If I am right, the £99.9 million is the estimate of what is required this year, based on a review of what the forecast requirements may be through to 2031-32. Will the Minister explain how those financial assessments were made? What discount rate was used to work out what the estimates might be? I am not questioning it, and I do not need a precise figure; what I am looking for is some comfort from the Minister that he feels that those financial projections, that model and the work of the trustees give him adequate confidence in the baseline of £99.9 million. That leads, in turn, to why we have 20.5% variability over the next five years. In the Minister’s response to my hon. Friend the Member for Dumfries and Galloway, I was also interested to hear about the use of other income. In his letter, the Minister said: “The Household forecasts that this income will increase by around 25% over the review period, based on recent performance, detailed modelling and increased visitor capacity… If income were lower than forecast, there is no expectation that the Grant would increase above £99.9 million per year.” Can the Minister confirm that, essentially, the other income is being treated as supplementary to what we see as the duty of the sovereign grant? I would be grateful to the Minister for reconfirming what he put in his letter. In clause 3, I am interested in proposed new section 6(5) to the Sovereign Grant Act 2011, stating that the reserve fund will be: “no lower than 10% and no higher than 50%”. What is of interest there is the duty to change the amount of the sovereign grant. There is an issue about to what extent that reserve, at 10% to 50%, is going to cover reasonable expectations of expense. That gets to the point that my hon. Friend the Member for Dumfries and Galloway made earlier about long-term plans. If significant capital expenditures are due, then the reserve, by its very nature, will be quite variable during the period. I would like some comfort from the Minister that the range of 10% to 50%—which sounds, on face value, to be reasonable—was correct in the modelling. There is just one slight concern about the Treasury’s thinking on this. When my hon. Friend the Member for North West Norfolk (James Wild) asked about powers to adjust the grant between reviews and the circumstances in which they might be used, the answer from the Treasury was: “These powers are intended for exceptional circumstances and are not expected to be used routinely”, which, of course, is the definition of exceptional. However, the letter does then go on to talk about major fire, flood and so on, saying that in those circumstances, “Any adjustment would require Parliamentary approval through secondary legislation.” Could the Minister advise on whether or not that approval will be subject to the affirmative procedure? I think that other Members may want to raise that as well.

• 14 Sept 2026 · Sovereign Grant Bill · Hansard source

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  I thank the Minister for presenting the Bill, but most importantly I thank His Majesty the King for his gracious service, on behalf of all Members of this House and all people of this country and the territories and nations overseas. I hope that he will use the sovereign grant as wisely and sagaciously as his governance over us allows. I support the Bill.

• 14 Sept 2026 · Sovereign Grant Bill · Hansard source

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  I thank the Minister for his speech. This follows a recent debate on ways and means that his colleague the Exchequer Secretary had with my hon. Friend the Member for North West Norfolk (James Wild). I do not wish to repeat the points that were made on that occasion. His Majesty’s official Opposition are supportive of this Bill. As the Minister laid out, the 2011 settlement has run its course; it did well for its time, but some aspects of it were due for reconsideration. As he said, the recent significant programme of upgrades to royal residences for public purposes has now reached its conclusion—I think this year is the final year of the additional funds—so it is timely for us to look for a change in structure. I thank the Minister’s colleague the Exchequer Secretary, because on the 11th of this month, he wrote in reply to questions from my colleague, answering questions about some of the points that we may get into in detailed consideration of the Bill. One of the substantial changes of principle in this Bill is that the ongoing ratchets that were effectively put in place by the 2011 Act have essentially become a backstop of £99.9 million. In his answer to my right hon. Friend the Member for South West Wiltshire (Dr Murrison) about potential variability, the Minister has given us some confidence about the ability to plan; we know that there will not be an absolute reduction. However, questions remain about extraordinary circumstances in which the Treasury would be able to reduce the settlement in any one year. I think that the Liberal Democrats will be asking that question in reverse—about changes to the percentage that may occur—but those are matters that we can discuss in Committee. His Majesty’s official Opposition recognise the tremendous work that His Majesty the King and the royal family do on behalf of our nation. We understand the power that that provides our nation with in our international relations, and the comfort that it gives to the people of this nation, and we support the Second Reading of this Bill.

• 7 Sept 2026 · Economic Growth · Hansard source

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  I thank the Minister for her statement and for early sight of it. On a day when the country was listening for a message of change, it was the same old, same old: a continuity Chancellor, with continuity policies and a continuity team of Ministers in the Treasury. Does the Minister recognise the harsh irony that—given the Government could find plenty of money to hire 14,000 more civil servants in SW1—the Chancellor chose to go to the west midlands, just a few miles away from Jaguar Land Rover, but had nothing at all to say about it? The Minister talked about Government borrowing falling to its lowest levels, but I wonder: can she also talk about the cost of Government borrowing? Can the Minister confirm that the cost of Government borrowing for 30 years is now at its highest rate for 28 years? The Minister talks about there being nothing progressive about spending £1 in every £10 on debt interest—well, amen to that—but why then did this Government choose to increase borrowing by £500 billion over the course of this Parliament? The Minister talked about the northern scale-up fund, which is an interesting initiative, but can she advise us who will be making the investment decisions and assure the House that they will not be subject to political direction? The Minister talks about a National Wealth Fund with new strategic partnerships and a permanent transfer of power and resources from Whitehall to the regions. Did she listen to the Secretary of State for Housing, Communities and Local Government say that local government reform is on hold? Can she confirm to the House what proportion of the country will qualify under that measure to be part of Labour’s largesse? My fear is that many parts of the country will not. The Minister did talk, smartly, about removing the thicket of consultation and looking at judicial review and the consultation culture. The Opposition will be supportive of measures that she comes forward with in that regard. But then, after a brief moment of common sense, the Minster talked about reducing the discount rate from 3.5% to 3%. Can she confirm that the cost at which the Government are borrowing is going up and up—5.9% for 30 years—yet she has chosen this moment to reduce the rate at which the Government expect to get money back from 3.5% to 3%? Can she explain how those numbers add up? Then, of course, there is the final cherry on the parfait: the Government will “identify and back” unicorns in this country. How will the Government identify those unicorns, and can the Minister explain how that is different from the discredited policy of Governments picking winners? The Minister then returned to common sense with the announcement that Mr Milburn will set out his recommendations to the Government. Will she please advise the House—many Members will be concerned about this—on what date Mr Milburn will make his recommendations? Today, the Government—the Minister and the Chancellor—had an opportunity to at least have mentioned the high cost of energy that is crippling British manufacturing. They could have ruled out tax increases, providing more certainty for businesses that they can invest. The Government could have said that they would take up the offer from the Conservative Leader of the Opposition to work together on meaningful reform and reductions in welfare, so that we make work pay. But we did not hear any of that. Instead, we are heading to a Budget where a Labour Government have again run out of money and where a Labour Government will once again increase taxes to cover their fiscal incompetence—same old continuity Labour.

• 30 Jun 2026 · Financial Inclusion: Young People · Hansard source

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  It is a pleasure to serve under your chairmanship, Sir John. You have launched an unfortunate trend of people fessing up to their first jobs; however, it gives me the opportunity to make a point about the context in which we are debating the financial inclusion of young people. My first job—probably illegally, at the age of about 10—was a Saturday job helping out a milkman on the milk round. I then had a Christmas holiday job helping the Royal Mail to deliver Christmas letters, and a summer job packing electric parts, all of which I did in Bedford. The key point, which relates to financial inclusion, is that a lot of what this Government are doing is turning employers away from being able to offer those job opportunities to young people. I really hope that they will rethink that, because as we have heard, the number of young people out of employment is going up quite considerably. I congratulate the hon. Member for Hertford and Stortford (Josh Dean) on securing this debate. I also thank him for the tone and the insights with which he opened it, which all subsequent Members reinforced, and would like to refer to some of the points made. The first was from the hon. Member for Hertford and Stortford, who recommended more action to support small sum lending and spoke about the beneficial effects that that can have on credit track records; I will reinforce that point a little later in some questions to the Minister. My hon. Friend the Member for Keighley and Ilkley (Robbie Moore) raised a point that the hon. Member for Ilford South (Jas Athwal) spoke about from a different angle, which is that young people make quite an important decision that affects their financial wellbeing: university versus apprenticeships. At the moment, it seems that both paths lead to potentially detrimental effects on young people’s financial wellbeing. They spoke about the decision to take out a student loan at a young age, and whether people get the right advice about what that might mean for their long-term financial wellbeing. My hon. Friend the Member for Keighley and Ilkley made a really interesting point about the potential disparity in how young people who decide to take an apprenticeship are treated in terms of access to financial resources, versus those in full-time employment, so perhaps the Minister can also say something about that. The hon. Member for North West Leicestershire (Amanda Hack) used her experience on the APPG for debt and financial inclusion to talk about the excellent work undertaken by Young Enterprise to improve young people’s understanding of money. That is quite timely, because My Money Week, which Young Enterprise started to try to teach young people in schools about finance and expand their knowledge, has just concluded. I echo the hon. Member for North West Leicestershire in saying that it would be good to extend that level of involvement beyond the age of 16 to young people more generally. The hon. Member for York Outer (Mr Charters) used his experience to echo a point made in an intervention by the hon. Member for Kettering (Rosie Wrighting) about how young people are turning to social media as their source of understanding. Turning to social media for anything is usually not good for one, which is one of the reasons why the Government have come around to banning young people from social media. When it comes to getting advice about finances, young people are already at risk through a lack of knowledge and understanding. Social media is a very dangerous source of information that can undermine what they might learn from their parents or schools. I also echo the point made by the hon. Member for West Dorset (Edward Morello): familiarity with technology is not the same as access to financial services, although there is an opportunity for us to do something with financial technologies. Financial inclusion for young people is a passion shared between my party, the Liberal Democrats and the Labour party. This is one of the areas where we are all looking to make progress. Under the last Conservative Government, we made financial education for 11 to 16-year-olds compulsory in the curriculum. I think the evidence shows—the Minister may confirm this—that we were not getting all schools doing what they should be doing, or at least that the results were not as we would have wished. However, it was the right step and the Government are moving now to make that compulsory in primary schools. That has to be a positive step. The last Government also made progress in improving student attainment in mathematics. In the PISA—programme for international student assessment—ratings for mathematics in 2009, England, as education is a devolved matter, was ranked 27th; by 2023, it was ranked 11th. That is good progress and is part of ensuring that young people understand numbers and can therefore get to grips with things. In the Government review by Professor Becky Francis, she commented on life skills and talked about the importance of young people learning about budgeting, interest, mortgages, pensions and financial planning. One thing that young people have to their advantage—the hon. Member for York Outer also mentioned this point—is the beauty of compounding interest. If they get the right start at a young age and are able to put some money aside, by the time they get to my age—perhaps even to your youthful age, Sir John—people will find it remarkable how compounding interest has worked on the savings that they have put aside. On the other hand, if they fall into debt, compounding interest can drive them the other way and into a much worse situation. It is absolutely crucial that we teach people the power of compounding, both positive and negative. Let me move on to my questions. As I did not have a chance to advise the Minister of my questions in advance, I would be happy to receive a reply in writing afterwards. First, ironically, I want to ask about cryptocurrencies. What assessment have the Government done of the potential for cryptocurrencies to promote financial inclusion? I am sceptical, but there may be potential benefits as well as risks; cryptocurrencies can provide an easier way in than financial institutions and have lower transaction costs. I am interested in the Government’s view. Secondly, I echo the point that the hon. Member for Hertford and Stortford made about microfinance. What assessment have the Government made of the use of microfinance platforms targeted at young people, to enable them to take the first steps in building up a credit record or potentially being small-scale entrepreneurs—another great thing that young people could do? Thirdly, what is the Government’s view of the merits of leapfrogging traditional financial systems in favour of educating young people on emerging fintech platforms? Is that something that might raise young people’s engagement with financial education, and that might ultimately be in their best interests? I have a small point on “know your customer” rules—I am not too familiar with this point, but the Minister may have a view. Is the Minister satisfied that the way the “know your customer” rules currently work is effective for maximising young people’s access to basic financing and banking facilities? Finally, I am sure that the Minister and I agree on the need to ensure that schools are teaching financial inclusion at both primary and secondary level. How satisfied is she that schools are complying with the compulsory rules on financial education? What can we do collectively, as constituency Members of Parliament, to ensure that schools are delivering the quality of financial inclusion and financial education that we would all like to see?

• 24 Jun 2026 · Taxation (Energy and Vehicles) · Hansard source

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  I thank the Minister for his very clear laying out of the measures before us. May I say that sometimes there is no place for partisanship? Perhaps we have had a taste of that today. I have a series of questions for the Minister. As I did not have a chance to brief him about them beforehand, as I wanted to, it is perfectly okay if he wants to get his ministerial team to reply in due course. I do not expect him to have all the answers straightaway. The first of the three measures is on the electricity generator levy. I will probe three points in the written statement about it. It states that “the 45% EGL rate will increase to 55% and will be extended past its scheduled conclusion in 2028. This will support the Government’s objective of reducing the impact of gas prices on businesses and households.” —[ Official Report , 21 April 2026; Vol. 784, c. 10WS.] What is the Treasury’s estimate of the amount it anticipates to raise from this measure? Is it a straight-line assessment—essentially going from 45% to 55%—which will mean roughly £600 million? Is it the intention of the Government that the revenues that come from the EGL will be treated in the future as an established line item in the Budget, or will they be seen as a levy that will potentially go away in a short period of time? Secondly, one of the concerns about the levy is the uncertainty and the effect that it may have on investments in electricity generation in general. What feedback has the Minister had? What feedback has the industry provided to the Government about this change? Does the Minister have a view about what the impact on industry investment will be? Surely, at this time, we are looking to extend the energy capacity of the UK at all levels that we can, so I am interested to know if the Government feel that there is a chilling effect on investment from these taxes. Thirdly, why has the Minister not announced an end date for this increase? It was originally supposed to be a temporary levy. Indeed, not announcing an end date adds to the uncertainty in the sector. It would be helpful if the Minister could say something about that. This measure is temporary, but how long is temporary? I am interested to know whether the Government would consider a sunset clause, with a review or some other aspect that might provide additional certainty for the sector. Let me move on to the mileage allowance increase from 45p to 55p per mile. We have no opposition to the change being made, but it would be worth while if the Minister could say a few words about the mileage allowance after 10,000 miles. The Government have decided not to change that at this time, so I am very interested to know what their thinking was. There are some people, particularly in rural areas and in certain types of jobs, who may well hit that 10,000 mile limit. What is the Government’s view on that? As the Minister outlined, the allowance has not changed for a considerable period of time. Will he consider annual indexation? There are issues with that, because it is not just tied to the price of petrol or fuel; it includes issues to do with depreciation. Identifying some form of indexation therefore may not be straightforward, but I am interested to hear the Government’s view. Finally, I think the Minister will recognise that the HGV vehicle excise duty holiday will probably have a limited impact, because it is just a one-year change. What sort of behavioural impact analysis did the Government undertake prior to introducing this measure? The industry is a little bit sceptical about whether it will actually change behaviour in the near term. However, I am very grateful to the Minister for laying the issues out so clearly and, as I said, I am happy to receive written answers to my questions in due course if necessary.

• 24 Jun 2026 · Taxation (Energy and Vehicles) · Hansard source

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  For covid!

• 24 Jun 2026 · Taxation (Energy and Vehicles) · Hansard source

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  I am grateful to the Minister for clarification that there is active consideration of an end date for that higher rate of 55%, but he will know that the 45% rate had an end date too. Will the review also consider announcing the end date for the levy overall, or has that not yet been considered?

• 23 Jun 2026 · Economic Strength · Hansard source

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  I am sorry, but the Chancellor’s recollection of her record is fantasy economics from a fantasy economist. Is it not the case that her true record is poor decision making: with U-turn after U-turn on winter fuel payments, business rates and family farm taxes; tax after tax on jobs, investment and savings; a country more indebted with higher interest rates; and a Chancellor unable to cut welfare and unwilling to fund our defence?

• 22 Jun 2026 · East Midlands Railway Collision · Hansard source

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  I thank the Secretary of State and her ministerial team for the support they have given Members of Parliament in affected constituencies since the collision, and add my voice to the many who have praised the response of Bedfordshire emergency services immediately following the collision, the brilliant work of the Thameslink staff at the stations, who redirected passengers who were not on those trains but had journeys to make, and the tremendous work being undertaken right now by Network Rail to move the carriages off the track. My condolences go to the family of the deceased driver, and my thoughts are with those in hospital. I spoke to one of my constituents, who is in hospital, at the weekend. He faces two very serious operations, and I ask this question on his behalf. We want the RAIB to complete its investigation thoroughly and without speculation. When it is complete, will the Secretary of State give her assurance that she will work tirelessly and fully to implement the RAIB’s recommendations as speedily and effectively as possible, so that this rare incident becomes ever rarer still?

• 13 May 2026 · Debate on the Address · Hansard source

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  That is a bit weird.

• 13 May 2026 · Debate on the Address · Hansard source

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  Finally, something we can agree on.

• 28 Apr 2026 · Retail, Hospitality and Leisure: Business Rates · Hansard source

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  This month, a comprehensive survey by UKHospitality showed that one in seven of our hotels, pubs and restaurants will close as a direct result of the Chancellor’s policies. Many of those businesses represent the hopes and dreams, hard work and savings of the people who set them up. Therefore, as I am permitted, rather than having the Minister come to the Dispatch Box, may I ask the Chancellor to come to the Dispatch Box to answer this? If it was not me standing here but one of those people who had founded a business and is now going through the gut-wrenching process of closing it because of her policies, what would she say to them?

• 15 Apr 2026 · Pension Schemes Bill · Hansard source

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  Then why worry?

• 19 Mar 2026 · Banking Services: Accessibility · Hansard source

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  I have to say to my Liberal Democrat friend that the Liberal Democrats’ position is that taxing big businesses, big banks and big tech can pay for everything. I think I have heard the moneys from that being allocated to well over 20 different applications. That may have a role—it is up to the Liberal Democrats to say—but the key point I was making is that, whether we like it or not, a vast number of the things we do are moving from analogue to digital, and banking is not isolated from that. Look at the way in which people communicate, the way in which legal services are likely to change and the way in which public services are likely to be delivered. The role of Government, back in 2022-23, was either to put up a block against that or to facilitate the change. We said that we would facilitate the change. There are contributions made through the banks to fund the banking hubs. More broadly, on the major transition of banking into the digital age, I take the hon. Member’s points about outage concerns and about someone receiving £1 million in their bank account and wondering how it got there, but overall the transition by financial services in this country has been done very well. It is important, though, that the Government of the day recognise the importance of maintaining essential banking services as a foundation for public confidence in the sector. The issue of footfall is crucial, as is the point about being able to talk to a person. I recently went into a bank to withdraw some cash—not a huge amount, but a fair amount. I was asked, “Why are you taking your money out?” That might seem a rather intrusive question—I was going to say, “I’m putting it all on red in Las Vegas,” although I was not, obviously—but the reason for asking the question relates to a serious point that the hon. Member for Cumbernauld and Kirkintilloch made. One issue that, back in 2022-23, I did not anticipate becoming so significant was how sinister online fraud on vulnerable people would become. With just a phone conversation, people can be intimidated or forced into thinking that they have to take money out of their account, and it ends up in criminal hands. Online fraud is an evil crime, and it can affect anyone. It is a very sophisticated way to get to people who feel vulnerable. The best defence against it is the fact of having to go into a branch of a bank or financial institution and have someone over the counter look you in the eye, see how you feel, and ask important questions to reassure themselves that you are not the victim of a crime. I take that very seriously; when I was looking at the issue a few years ago, I was perhaps not as cognisant of it as I am now. I would be interested in the Minister’s thoughts. Notwithstanding certain disagreements about the overall role of banks, this has been a debate in which all sides have urged the Minister and the Government to look at the update and the consultation in a serious way, think about what has been done correctly and see what, in today’s world, are the best changes to be made to the regulations.

• 19 Mar 2026 · Banking Services: Accessibility · Hansard source

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  It is a pleasure to serve under your chairmanship, Mr Western. I join everyone in congratulating the hon. Member for St Ives (Andrew George) on not only securing the debate but opening it so clearly. He laid out the particular issue in Penzance, but in doing so highlighted common concerns about bank closures. He raised some interesting questions in his excellent speech. I am sure the Minister will address them, but I will highlight a couple that I thought particularly interesting. The first was about the manner in which the closure was done—there was no consultation. He also talked about access to banking, not just to cash. The Minister will be aware that the Labour party had thoughts on that prior to the election; I do not want to prejudge the consultation, but I would be interested in her observations about that. The hon. Member for St Ives has been joined by several other Members. The hon. Member for Stoke-on-Trent North (David Williams) made an important point, among many, about the communal role that banks have played historically, and the hon. Member for Tewkesbury (Cameron Thomas) mentioned the impact on town centres. Those two points highlight how central bank branches were to our country’s culture. The hon. Member for St Ives also talked about the buildings that once housed the recently closed banks. The withdrawal of bank branches not only strikes at the way financial services operate in this country, but says a lot about the type of country we are. I will come on to that point later. In his intervention, my hon. Friend the Member for Keighley and Ilkley (Robbie Moore) raised the issue of the criteria used in the selection of banking hubs. I would be interested to know whether the Minister is considering that. The hon. Member for Cumbernauld and Kirkintilloch (Katrina Murray) talked about face-to-face banking, which goes to the nub of the matter: future trends in banking, an issue that I will raise in my own comments. The Liberal Democrat spokesperson, the hon. Member for Brecon, Radnor and Cwm Tawe (David Chadwick), made a wide-ranging speech and talked about how mobile banking must be dependable to be successful, as well as the availability of mobile networks. I had an exceptionally brief ministerial career, part of which included introducing to the House of Commons the Financial Services and Markets Act 2023, which contained the provisions that provided for banking hubs. It might be helpful to share some of my own thinking, or the thinking of the Conservative Government at the time. Some comments have been made about the impact of closures. I share people’s concerns about that issue, but the Government of the day—the Labour Government, today—must take a view on whether they will work with trends in how financial services operate in this country. They must decide either to seek to mitigate the social consequences, which is the rightful role of Government, or to stand steadfast against such changes. Patently, the decision made by the then Conservative Government, which has been supported by this Labour Government, was to work with the grain of how financial services are moving. It is about facilitating that, as far as possible, while recognising the social disbenefits that can arise. It is fair to say that when consultations were done at the time, which was during covid, accessibility to cash was the primary focus of concerns about the decline of branches. It is also fair to say that the provisions in the 2023 Act on the future accessibility of banking were not set in stone. It was clear that we were in a period of trend and change that would require further consultation and review on how it was working, and what further trends were occurring. The Opposition welcome the Government’s taking the opportunity to look at these issues again. To give a sense of the pace of change—this has not been mentioned so far—in 2024, for the first time, cash accounted for less than 10% of payments in this country. We need to go back only eight years for it to be, by far, the No. 1 form of transaction in this country. For those Members who are old enough to remember them, cheques now account for only 0.2% of all payments, so there has been a significant change. On the pace of change of bank branches, since January 2015 there have been 6,700 bank branch closures, according to Which? magazine. To put that into context, there are approximately 12,000 towns in the country, and about another 100 cities. That shows the significant withdrawal of physical premises across the country. The number of ATMs has also fallen by 40% since 2015. On the plus side, we have largely seen an end to the long decline in post offices in this country. One of the benefits of our post office network was that post offices were present in many locations, although not all, and could provide aspects of the banking services that were important to people. The change to the trend for post offices is welcome. We want our post offices to continue to provide a broad range of services to local communities. Postmasters and postmistresses are often among the most trusted people in their community, and they can provide a range of services, but of course they do not necessarily have the same level of expertise in banking that one would find in a bank branch. That takes me on to another point. This debate was starting to look like a bit of a hit-job on Lloyds bank. I think that it was just by chance that the first three bank closures referred to were all of Lloyds branches, so let me say that this is not just a Lloyds thing; it affects all financial institutions. On the other hand, our financial institutions and banks do a very good job for people. They are effective in making sure that people have a safe place for their money and that money can be transferred from A to B. They are good at developing new products and at trying to adapt to technological change.

• 10 Mar 2026 · Youth Unemployment: Autumn Budget 2025 · Hansard source

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  Last month, The Times reported that the Government may drop their pledge on minimum wage equalisation over fears of youth joblessness, and the BBC reports that the Government are considering a delay. Can the Minister advise whether the Government have considered any such delay or policy changes, and if so, what decision has been reached?

• 10 Mar 2026 · OBR Growth Projections: Departmental Spending · Hansard source

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  The Government’s spending plans look very, very iffy. The Minister has a chance of fitting in with the Chancellor’s fiscal rules—if there is no further downgrade on economic growth, which seems unlikely; if the Government have the backbone to rein in public spending and to increase taxes in the last years of the Parliament, which seems very unlikely; if the Government do not have to step in with any significant energy support because no money has been set aside; and if the Government can get £4.8 billion in salary sacrifice in 2029-30 revenues, which the industry says is a pipe dream. So here is another “if”. If the Minister’s spending plans start to fall apart, will he prioritise cuts in public spending over tax increases?

• 24 Feb 2026 · Charter for Budget Responsibility · Hansard source

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  I thank the Minister for a succinct opening speech. The charter for Budget responsibility seeks to confer the important attributes of stability and credibility on a Government’s management of the public finances and the wider economy. “Stability” and “credibility” are not exactly the first two words that spring to mind to describe the current Government’s management of the economy. Through their own incompetence, they have presided over a chaotic year that has shredded any remaining confidence in the Chancellor and her team and—more important—has done lasting damage to the life chances of so many young people who now cannot find work. As the Chancellor prepares her spring statement, we have a Prime Minister living on borrowed time. This Government are painfully lacking in real-world economic experience, and they desperately need help. We will not be opposing the measure this evening.

• 24 Feb 2026 · Charter for Budget Responsibility · Hansard source

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  I thank the hon. Member for his intervention. I think his issue with the Barnett consequentials is one for the Minister to reply to, but the Conservative and Unionist party, as he knows, has very strong support for and kinship with our citizens in Northern Ireland. On his comment about the revenues that the Government received in January, I would just point out that that in large part was due to self-assessment returns and capital gains returns filed in that year. When we tease through the data, we will see that a lot of that came from people making economic decisions that, in the long run, were not in their interest, because of the uncertainty brought into the economy by the Chancellor, who has confused people for an entire year. To illustrate the chaos of the last year, let me remind the House what the then Chief Secretary to the Treasury, the right hon. Member for Bristol North West (Darren Jones), said in the equivalent debate on the charter last year: “Growth is the primary mission of this Government.” —[ Official Report , 29 January 2025; Vol. 761, c. 344.] But since then, comparing the OBR forecast from 2024 and 2025, growth is down in each year of the forecast period. In 2026, it is down to 1.3% from 1.8%. It is down in 2027, 2028 and 2029. The then Chief Secretary also said that the autumn 2024 Budget “put the public finances back on track, and we will keep them there.” —[ Official Report , 29 January 2025; Vol. 761, c. 345.] But since that statement the Chancellor has brought forward proposals to cut £5 billion from welfare. Then she reversed them. She said that she would stick to the two-child benefit cap, but then she caved in to Labour Back Benchers. The Chancellor has been forced to U-turn on her removal of winter fuel payments to pensioners. She has U-turned on her plans to tax our pubs out of existence, and she has U-turned on her damaging plans on the family farm tax and family business tax. After having said that she would not be coming back for more taxes, she did indeed come back to whack the British people again with tax increases amounting to over £26 billion. When this Government came into office, the forecast was that they would need to borrow £77 billion this fiscal year. But under this Chancellor, that level of borrowing has ballooned to £112 billion so far and is forecast to reach £138 billion by the end of the year. According to the OBR in November 2025, public sector net debt will continue to rise over the forecast period, despite Labour raising taxes to record levels, and debt will rise from 93.6% of GDP to 97% by the time of the next general election in 2028-29—if the Government last that long. Given the wreckage that they have caused in the general economy, Labour’s spin doctors have started to claim that the Government have the fastest deficit reduction plan in the G7. But that is only because this Government have spent so recklessly in their first years. Achieving this remarkable reduction rests on the credibility of the Government’s plans to raise taxes ahead of a general election and on their ability to rein in public spending in the out years—plans which, surely, their skittish Back Benchers will stymie, if the Government last that long. There are two changes in this revised charter that I would like to note. The first is the decision to change the definition of the current Budget being “in balance”. Paragraph 3.6 of the previous charter said that “balance is defined as a range: in surplus, or in deficit of no more than 0.5% GDP.” The current charter does not include that condition. Can the Minister tell us why the decision has been made to remove that flexibility? I would also be interested in what he thinks of the Institute for Fiscal Studies’ recent report, which stated: “The UK’s fiscal framework is based around a set of pass-fail, numerical fiscal rules. The fiscal debate is overly fixated on the amount of ‘headroom’ the government has against the most binding of those rules. The system incentivises the government to operate with the smallest amount of ‘headroom’ possible, with policy often fine-tuned according to the central point estimate of a highly uncertain forecast from the Office for Budget Responsibility.” The IFS report recommended that “the UK would be better served by a new framework based around a set of ‘fiscal traffic lights’”. The Government appear to have gone in the opposite direction to the recommendations by stressing the importance of pinpoint accuracy, and I would be interested in the Minister’s views on that. I turn to the most significant change: the removal of what was paragraph 4.27 in the previous charter, which said: “At the same time as the forecasts, the OBR will produce its assessment of the extent to which fiscal policy has delivered, or is likely to deliver, the fiscal mandate.” The Government have, at a stroke, removed the opportunity for an independent assessment by the OBR ahead of the Government’s spring statement, yet last year the OBR significantly revised many of its previous assessments ahead of the spring statement. The OBR wrote that it was expecting GDP growth of 1%—half the rate of the October forecast—and that “CPI inflation is forecast to rise from 2.5 per cent in 2024 to 3.2 per cent in 2025, 0.6 percentage points higher than forecast in October.” [ Interruption. ] I have not been called “kiddo” for a while. I hope the Whip on duty, my hon. Friend the Member for South West Hertfordshire (Mr Mohindra), understands that this is an important point to make. It may have taken me some time to get there, but this is an important point. The issue here is: why make this change now? The Budget Responsibility and National Audit Act 2011 is clear that the OBR must prepare fiscal and economic forecasts and assessments at least twice a year. Clause 251 of the Finance (No. 2) Bill retains the requirement for the OBR to prepare forecasts twice a year, but it seeks to remove the requirement in the 2011 Act for the OBR to provide its assessment twice a year. Perhaps the Minister—the wannabe Chancellor—can confirm that the reason we are today debating a revised charter, which now excludes an OBR forecast just ahead of the spring statement, is specifically to preclude the OBR from doing its own assessment on the imminent spring statement. We support tonight’s measure, but not with any confidence in this Government’s handling of the economy. In lacking that confidence, we are not alone. According to the latest Institute of Chartered Accountants in England and Wales survey, business confidence fell again in the last quarter of 2025, with record concerns about the tax burden on business. In its December 2025 survey, YouGov found that 80% of the British people thought the Government were handling the economy badly. It is a sorry, sorry state for our great country.

• 24 Feb 2026 · Charter for Budget Responsibility · Hansard source

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  No, never!

• 27 Jan 2026 · Living Standards · Hansard source

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  Persistently high inflation and fears that things will get tougher for their children are top issues for the British public, but the Office for Budget Responsibility’s assessment of Labour’s plans was that: “Growth in real household disposable income per person is projected to fall… to around ¼ per cent a year… well below the last decade’s average”. Minister, why is the sum of all this Government’s economic policies condemning the British public to such a despairing prospect?

• 27 Jan 2026 · East Park Energy: North Bedfordshire · Hansard source

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  The Minister is talking about cumulative impacts from projects. Just so that it can be on the record, the point I was trying to make is that one consideration is the cumulative impacts from solar farms; the other is that there are a lot of other types of infrastructure construction going on. Could the Minister be clear that cumulative impact includes consideration of both?

• 27 Jan 2026 · East Park Energy: North Bedfordshire · Hansard source

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  Madam Deputy Speaker, may I start by thanking you and, through you, Mr Speaker for permitting me to speak on this important constituency matter. I also welcome the Minister. For the benefit of those who may be not familiar with the process, the Minister will probably be very limited in what he can say specifically about the topic I am raising today. The topic is a proposal by East Park Energy for a large-scale, ground-mounted solar plant and battery energy storage system spanning North Bedfordshire and also the constituency of Huntingdon. This proposal is currently under consideration as part of the nationally significant infrastructure project process. East Park Energy spans 1,900 acres of land—to give some perspective, that is larger than Gatwick airport—on what is currently open countryside. It engulfs the rural parishes of Pertenhall and Swineshead, Bolnhurst, Keysoe, Little Staughton, Staploe and Dean and Shelton in my constituency, as well as the parishes of Hail Weston and Great Staughton in the constituency of Huntingdon. Some 74% of the land is classified as best and most versatile agricultural land, and East Park is one of six nationally significant infrastructure projects impacting North Bedfordshire. I have called this debate to discuss with the Minister the impact that East Park Energy could have on North Bedfordshire’s local residents and on its landscape and rural character, and to raise with him points specific to the proposal that, in my opinion, warrant serious consideration for its rejection. East Park Energy would permanently and fundamentally change the area’s rural aspect and character and transform open countryside into industrial land. It is important that we stop referring to these installations by the rather cute term of “solar farm”, because the truth is that they are industrialised complexes. This one is made up of 700,000 solar panels, each up to 3 metres high, along with fencing, lighting, CCTV, inverter stations, transformer units, battery storage infrastructure and cabling. That sounds a long way from what we understand a farm to be. Proposed mitigations to plant trees in order to screen the development are usually insufficient. Even if planting to screen the panels is successful, it would take years for the trees to mature, and even at full maturity, large parts of the site would still be visible because of its topography. The site will be a huge, permanent, unmissable and miles-long change to the local environment of that part of England. It will not blend in with the existing environment; it will crush it. It is important to say that we in Bedfordshire are not against solar farms in general. In fact, we have 44 solar farms that are already operational or proposed in both Bedford borough and Central Bedfordshire, which are the two local authorities that traverse my constituency. However, this specific proposal is different. Given my interest in financial matters, I hope that I have the House’s discretion to make a couple of general points about the finance of solar farms, of which I know the Minister will be aware. First, it is important to note that, with large solar plants, we are paying the cost of capacity, not of output. Capital costs are excessive because of the inherent process inefficiencies in solar farms. That is fine as long as it does not end up on the public purse, but ultimately investors look for a return, so it does indirectly end up on us. Secondly, we are paying for the cost of variability of output from solar plants—the hidden costs of changing the national network to cope with that new factor of energy production. Thirdly, it is important to note that we are paying the cost of buying the energy produced, even when it is not necessarily needed or used—paying essentially for wasted energy. In addition to those points, which the Minister is aware of and which have already been factored in, the combination of solar-generated energy and energy price arbitrage via battery energy storage systems fundamentally changes the economic case for solar—certainly from a public benefit point of view. Returns to investors will already be supercharged by the addition of new capacity in the form of battery storage—a very significant additional investment. However, that additional investment makes financial sense only when the purpose is to arbitrage energy costs—producing energy at low price points to sell at high price points—but that is not really the intention of trying to get low-cost energy. As a business person, I say that the overall structure of the contracts, which the Minister inherited from previous Administrations, directly encourages maximum financial leverage—taking on as much debt as possible in order to maximise returns to investors. We have seen in other areas of public infrastructure—particularly with Thames Water—the problems that arise when so much leverage can be put up. Essentially, the returns are privatised and the losses socialised. I would be interested in hearing the Minister’s observations on that. Will the Minister advise on whether the Government have put in place, or have plans to put in place, a limit on the debt ratios that large-scale solar plant operators can carry? I did a quick check but could not see that such a limit was in place at the moment. I would be interested in the Minister’s thoughts on that. Tied to that point—again, from a financial point of view—is my own understanding about corporate and political risk. In the case of East Park solar, I am concerned about the corporate history and financial viability. I mean no disrespect to the business, but it has no prior experience in developing or operating such large-scale solar projects. There are substantial issues of project failure or poor management, and therefore the risk that the current developer sells the site on to somebody else with a whole new set of investors and objectives. The Minister may not be able to speak about this, but at least one political party in this House has said that it might cancel such projects in the future, raising the risk of stranded assets. The Government should be considering that, not because they agree with it, but because if there is such a change in Government, it is the people of North Bedfordshire in this instance who will be left with those stranded assets—solar panels stretching for three miles one way and three miles the other way, with no economic return and no financial viability to remove them. The Minister will correct me if I am wrong, but I do not believe there is a requirement for an escrow fund to be put in place for the removal of plants should a business go bust. Can he say what weight is placed on the historical experience of applicants for large-scale plants in installing and operating such plants in the past? Does that factor at all? I have reviewed a number of these debates, and in many of them the issue of best and most versatile land has come up. The Minister must accept that East Park Energy’s proposal of 74% of the site being best and most versatile land is a pretty high proportion, well in excess of almost every single plant that has been adopted or accepted to date. It is a generational loss of arable land. I am afraid the proposal from East Park Energy lacks any serious demonstration of seeking lower-grade or brownfield land, and it appears to be at odds with national policy, which is to avoid using best and most versatile land. I will quote the Minister back to him, because what he said was very sensible. In a debate on 15 May 2025, he said: “I am not going to put a figure on it right now, but we have clearly said that it is important to find the right balance when it comes to best-use agricultural land.” —[ Official Report , 15 May 2025; Vol. 767, c. 573.] The Minister will not give a figure today, but 74%? Come on now! Can he advise whether the proportion of best and most versatile land at 74% and the scale of East Park Energy will be an issue of weight in the appraisal? I do not expect him to say whether it is right or wrong. However, Ministers have said in previous debates that it is important not to use best and most versatile agricultural land and that food security is important, and then they have gone on to say that solar will only take up 1% of land, which implies both that it matters to avoid using the best and most versatile land and that it does not matter. Which is it? With the proposed figure standing at 74%, this seems to be a central point. I want to make two final points that are of particular significance, to make the Minister aware of the broader issues. We need to consider the cumulative impacts. I want to put on the record the context of North Bedfordshire and the surrounding area that the East Park Energy proposal will be coming into. The first thing he should be aware of is that, for the past decade or more, Bedfordshire’s housing growth has been between two and three times the national average. If he looks at the 2011 and 2021 censuses, and at the number of households in my constituency and that of my hon. Friend the Member for Mid Bedfordshire (Blake Stephenson), he will see that the level of housing growth is between two and a half and three times the national average. As he will know, that is great for the country, but it puts a strain on the surrounding infrastructure. Secondly, Bedfordshire has six nationally significant infrastructure projects on the blocks right now. That is a huge amount. Let me enumerate them for the Minister. The first is the Black Cat roundabout on the A428, which is in the direct area of East Park Energy. That is the country’s largest ongoing road project, due for completion in spring 2027 or thereabouts. Secondly, East West Rail is the country’s third largest railway project, proposing to drive a line between Bedford and Cambridge, cutting through my North Bedfordshire constituency. Thirdly, Universal Studios is the country’s most significant inward investment. It started under the previous Government, supported by the then Opposition, and it has been brought home by this Government and is supported by the Opposition today. It will mean 10 million visitors a year, with all the movement of people that that entails, and the ancillary development around it. Further away, Luton airport is expanding to facilitate that, doubling in size from 18 million to 30 million passengers a year. Very specifically, there is a new settlement in Tempsford. As I have said, Tempsford is currently a village of 400 residents and seven sheep. The Government are highly likely this year to take forward the proposal from the new towns commission that Tempsford should be the site of at least 40,000 new homes, going from 400 residents to over 100,000 on land that encompasses, abuts, and perhaps embraces, land for East Park Energy. On that specific point, it seems that we can have one or the other, but we cannot have both.

• 27 Jan 2026 · East Park Energy: North Bedfordshire · Hansard source

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  My hon. Friend makes two important points. First, during world war two, London would have starved without agricultural produce from Bedfordshire. More importantly, the Minister must recognise that we are supportive. We know that the Government have a growth strategy—we may have disagreements on national economic policies, but we want to do our bit. Indeed, the people of Bedfordshire are doing their bit, and a lot more. The Minister will appreciate that, with so many projects happening all at once, at some point those things are going to break, and my hon. Friend makes an important point about that. In East Park Energy’s documentation, it chose not to be comprehensive in the scope of its evaluations, and was insufficient in the depth of its analysis. For example, it completely omitted any reference to Luton airport expansion, the Universal theme park, and any potential new town at Tempsford. It dismissed the need for an assessment of Black Cat roundabout on the assumption that construction would be finished before East Park Energy starts, but there will be consequential effects, including further construction from the change at Black Cat roundabout. It dismissed the need for an assessment of East West Rail on an assumption, but it is highly likely that there will be an overlapping construction period should East West Rail go ahead. It lacked any assessment of medium or long-term effects such as permanent land use change and increased perception of the urbanisation of the area. It provided no consideration of the over-concentration of solar development in North Bedfordshire—my constituency is part of the 1% club, which is constituencies where over 1% of the land area will be covered by solar panels—and it ignored the impact of overlapping construction periods that it would be adding to for two and a half years, or 30 months. Just imagine all the traffic from building Universal Studios, getting in construction because we want shovels in the ground to start building at Tempsford if the Government decide to go ahead with that, and trying to build East West Rail. East Park Energy completely ignored that, so from the point of view of understanding the impact of what it is going into, the proposal that was presented fell significantly short. Finally, before I yield to the Minister, I know that he is limited in what he can say about specific projects and that, given his role, the Secretary of State would not be able to comment at all. As I mentioned briefly to the Minister earlier, I am in a small minority of Conservative Members who agree with some of the Secretary of State’s criticisms about past energy policy, even though I may not agree with all of his proposed remedies, so I hope that the Minister understands that my observations come from a positive place. The role of a Secretary of State or his designated Minister in making a decision is a crucial step in an evaluation process, which the public must trust. They must assess each proposal individually on its merits, not just on overarching goals. There have been 12 solar panel development consent orders for evaluation since July 2024, each of which has been approved. Some of us may be old enough—not you, Madam Deputy Speaker, but certainly me—to remember the musical “Oklahoma!”, in which there is a song, “I Cain’t Say No”. That is a very old reference, but I am very old. I encourage the Secretary of State to avoid any caricature that he “cain’t say no”, because in the case of East Park Energy, my personal view is that there are considerable and specific reasons why he can say no.