The upcoming budget and state of the UK economy dominated this week’s clash in Parliament. Kemi Badenoch argues that the economy is deteriorating, while Keir Starmer contends that conditions are improving. The Budget looms large over the PMQs session held on 19 November, with discussions focusing on potential tax changes by Rachel Reeves and the government’s handling of inflation and public finances. Reeves’ plans, slated for announcement on 26 November, are rumored to involve tax changes that could raise revenue but may contradict Labour’s fiscal rules. Badenoch criticized what she described as a government “U-turn” over a supposed rise in income tax and claimed that inflation has nearly doubled since Labour took office, making life harder for ordinary people. Starmer pushed back on the Conservatives’ past economic record, stating that Labour would not impose austerity on the country.
“The Budget has not actually happened yet, and Reeves’ plans will not be announced until next Wednesday [26th November].”
“Inflation has nearly doubled since Labour came into office.”
“What we will not do is inflict austerity on the country.”
The session also touched on broader economic and fiscal concerns, including Labour’s stance on austerity and the economic impact of policy choices, as well as specific industry concerns such as the oil and gas sector in the UK.
“The austerity that the Conservatives imposed on the country destroyed our public services, and we are still paying the price.”
In addition to domestic economic debate, commentators highlighted potential sectoral implications, such as challenges faced by industry players and the broader fiscal environment ahead of the Budget announcements.
The Budget shadow over Parliament reflects ongoing speculation about tax policy and its alignment with Labour’s fiscal rules.
Author’s summary: The week’s PMQs centred on the economy and the upcoming Budget, with Badenoch accusing the government of mishandling tax speculation and inflation, while Starmer emphasized Labour’s anti-austerity stance and fiscal credibility ahead of Reeves’ forthcoming plan.
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