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Public sector debt

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To ask His Majesty's Government what consideration they have given to using war bonds to fund defence and the impact on public debt.

Asked by
Lord De Mauley (Conservative)
Answering body
Treasury
Type
Written questions
Status
Tabled
Date
23 July 2026
Reference
HL2665
House
House of Lords

To ask His Majesty's Government what assessment they have made of whether (1) joining the Defence, Security and Resilience Bank, (2) joining the Security Action for Europe scheme, or (3) forming the Multilateral Defence Mechanism, would have an impact on (a) borrowing, (b) public sector debt, or (c) public sector...

Asked by
Lord De Mauley (Conservative)
Answering body
Treasury
Type
Written questions
Status
Tabled
Date
23 July 2026
Reference
HL2667
House
House of Lords

The Chancellor must be concerned that none of the good news she has shared with us today is being felt by people in the real world. Inflation is down, but she will know that that does not suddenly make things more affordable, and interest rates are down, but she will...

Member
Bobby Dean (Liberal Democrat)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c724
House
House of Commons

In every month since I became Chancellor of the Exchequer wages have risen faster than inflation. We have increased the national minimum wage and the national living wage to put more money in the pockets of the poorest people, and the interest rate cuts mean that a typical family getting...

Member
Rachel Reeves (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c724
House
House of Commons

Does the Chancellor agree that restoring confidence and hope for families in Wolverhampton and Willenhall is achieved through a stable economy, with borrowing, debt interest and inflation falling faster than expected, moving away from the chaos of spiralling mortgage rates and towards the stability of falling rates?

Member
Sureena Brackenridge (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c725
House
House of Commons

I was very pleased recently to spend some time in my hon. Friend’s constituency, where we met a family who are now able to get on the housing ladder because of the reduction in interest rates. Instead of living with mum and dad, that couple and their young child are...

Member
Rachel Reeves (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c725
House
House of Commons

The Chancellor claimed to be cutting debt, but she will know that paragraph 5.9 of the OBR’s “Economic and fiscal outlook” says that

“Public sector net borrowing is forecast to increase”

public sector net debt

“in each year, by an average of £92 billion”.

To avoid misleading the House, will she correct the record?

Member
Mike Wood (Conservative)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c756
House
House of Commons

The OBR has revised down the level of debt in every year of the forecast.

Member
Rachel Reeves (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c756
House
House of Commons

I thank the Chancellor for her statement, and for the decisions she has taken to ensure the stability of our public finances so that we can improve our public services. As she will know, the number of individuals in the probation system is at an all-time high, with violent reoffending...

Member
Elsie Blundell (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c756
House
House of Commons

As Chancellor, it was my responsibility to make sure that we had fair settlements in the spending review for every Department. That included a big uplift in the settlement for the Ministry of Justice so that we can invest in probation staff, in prison officers, and indeed in prisons, which...

Member
Rachel Reeves (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c727
House
House of Commons

It is not just an uncertain period for North sea workers; it is a crisis, and it has been a crisis for years. Investment has completely disappeared, jobs are being haemorrhaged and events make it even more clear why we need a home-grown energy supply and why we cannot rely...

Member
Kirsty Blackman (Scottish National Party)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c727
House
House of Commons

I am meeting representatives of the North sea oil and gas sector tomorrow because of the huge volatility we are seeing in oil and gas prices. Since the Budget, the OBR forecasts show a sharp fall in oil and gas prices, but we have seen some of that reverse in...

Member
Rachel Reeves (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c728
House
House of Commons

I warmly welcome that the UK will now, thanks to these Labour choices, spend £3 billion less per year on debt interest up to 2030. My constituents need to feel that in their daily lives, so will the Chancellor further outline how we will unlock the ability to tackle living...

Member
Anna Gelderd (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c728
House
House of Commons

We are spending £100 billion a year on interest payments on Government debt. That is spending not on reducing Government debt, but just on the interest on Government debt, which is £1 in every £10 of what the Government spend. I think there are better ways to spend that money,...

Member
Rachel Reeves (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c757
House
House of Commons

The spring statement began well by outlining the desperate international situation and by praising our armed forces, but does the Chancellor agree that her remarks would have been all the more credible had she announced that the dither and delay that has plagued defence spending over the past 18 months...

Member
Andrew Murrison (Conservative)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c734
House
House of Commons

It is a little rich for the Conservatives to talk about dither and delay when it comes to defence spending. They had 14 years and defence spending fell as a share of GDP. We are providing the biggest uplift in defence spending since the end of the cold war, and...

Member
Rachel Reeves (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c734
House
House of Commons

I welcome the Chancellor’s commitment to reducing Government debt, the 95,000 children in Scotland being lifted out of poverty and the revival of Glasgow’s military shipyards, where we will build Labour boats, which, unlike SNP boats, will work and have real windows. Does the Chancellor agree that it is a...

Member
John Grady (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c735
House
House of Commons

Some 95,000 children in Scotland will be lifted out of poverty, and today we have been able to announce a further uplift in the budget available for the Scottish Government. We can only hope that it is a Labour Government, not an SNP Government, who have the chance to spend...

Member
Rachel Reeves (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c736
House
House of Commons

The Chancellor calls this the right plan, but for whom? Is it the right plan for farmers being taxed to death, WASPI women still waiting for justice, small businesses and hospitality firms barely surviving or hard-working childminders set to lose their 10% tax allowance? The price of energy is rising...

Member
Carla Lockhart (Democratic Unionist Party)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c738
House
House of Commons

The Northern Ireland Executive came to us asking for additional money this year to fund their priorities, which we have provided. Today’s settlement includes an extra £380 million in day-to-day spending and £10 million in capital spending for the Northern Ireland Government to invest. If the hon. Lady does not...

Member
Rachel Reeves (Labour)
Type
Proceeding contributions
Date
3 March 2026
Reference
781 c758
House
House of Commons