The commons chamber was packed to the brim with Labour and opposition MPs keen to hear what the Chancellor was going to announce. I managed to get a good enough seat – considering the chamber is only big enough for 427 MPs despite there being 650!
A lot of what was announced in the statement was positive, although I do have concerns over changes to disability benefits. To start with the positive, this Government has restored stability to our public finances, with interest rates cut three times, rebuilt our public services with waiting lists down for 5 months in a row, and increased the National Living Wage to give 3 million people a pay rise from this week. The Spring Statement also confirmed that the Government has stuck to the fiscal rules it set itself.
We are also taking decisive action to strengthen our national and economic security with a series of key defence investments. An additional £2.2bn will be allocated to the Ministry of Defence next year, alongside a dedicated £400m innovation fund to drive technological advancements. The Government has also committed to reforming defence procurement, investing in key sites like Barrow and Portsmouth, and improving housing for military families further supports these efforts. Additionally, £2bn will be allocated to UK Export Finance to assist international buyers of UK defence products, while a new Defence Growth Board will ensure efficient use of taxpayer funds. The Government will also introduce a new Defence Industrial Strategy to foster innovation, ultimately benefiting both the UK's security and its economy.
Independent OBR forecasts also show that our major planning reforms will boost housing and economic growth. The OBR predicts these changes will increase GDP by 0.2% by 2029-30, adding £6.8bn to the economy, with further growth of 0.4% over the next decade. This is the biggest positive impact the OBR has ever seen from a policy with no fiscal cost. Overall, these reforms are expected to bring in £3.4bn for public finances by 2029-30.
I am however still very concerned about proposed changes to PIP eligibility assessments and incapacity benefits. I am raising these concerns with ministers in relevant departments. Everything which I am being told by my constituents gets relayed in Parliament back to the Government. Please be assured that I am not taking these changes lightly, that I will continue making my views known directly to ministers and I will also continue to support those in Morecambe and Lunesdale who may be affected by these changes. Please don’t forget, if you need my assistance, you can contact my office via email on lizzi.collinge.mp@parliament.uk or leave a message on 01524 566015.