Public Spending: Inheritance - Statement

Part of the debate – in the House of Lords am 12:54 pm ar 30 Gorffennaf 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Lord Livermore Lord Livermore The Financial Secretary to the Treasury 12:54, 30 Gorffennaf 2024

I am extremely grateful to my noble friend for his kind words. He is quite right: not only are the previous Government guilty of what we are discussing today, of running up an enormous overspend and of hiding that from Parliament, the public and the Opposition at the time, but they left us with possibly the worst economic inheritance since the Second World War. That contrasts sharply with the performance of the economy under the last Labour Government. Of course, growth is absolutely our priority. That growth will take time, but we are absolutely committed to doing what it takes to return this economy to a sustainable level of growth.