Lords debates Autumn Statement
30 November 2022
On Tuesday 29 November, members of the House of Lords debated the Autumn Statement.
This was a general debate. During debates, members put their experience to good use to discuss current issues and draw the government's attention to concerns.
Baroness Penn (Conservative), Parliamentary Secretary, HM Treasury, opened the debate and responded on behalf of the government.
Members speaking in the debate included:
- Lord Bilimoria (Crossbench), president, Confederation of British Industry (CBI)
- Lord Eatwell (Labour), Emeritus Professor of Financial Policy, University of Cambridge
- Lord Lamont of Lerwick (Conservative), former Chancellor of the Exchequer
- Baroness Kramer (Liberal Democrat), former Vice President, Citibank/Citicorp USA.
Other speakers included leaders in business, trade unioninists, and economists.
Members discussed investment in the UK, trade, climate change and more in this wide-ranging debate. Baroness Penn (pictured in the Lords chamber) opened the debate setting out the government’s plan for the economy. She said the government’s priority is stability and its plan will lead to a shallower downturn, lower energy bills, lower interest rates, higher long-term growth and a stronger NHS and education system.
Members highlighted the impact of some recent economic decisions on people and families, saying they will hit everyone, particularly middle incomes. They said the government’s ambition to deliver high quality public services did not align with its cuts to the pay of the people who provide public services.
Members called for greater spending on schools, to tackle underinvestment, and on defence because of Ukraine and other global threats. Members also argued that health and innovation have a critical role to play in the national recovery and called for investment in the NHS, clinical research, and health and innovation.
Watch and read the debate
Learn more about the Economic Affairs Committee session with the Governor of the Bank of England, also on Tuesday 29 November.
Explore background information
Learn more about how the House of Lords checks and challenges the government.
Image: House of Lords / Helen Jones