00:00Can the Prime Minister tell us why his government is the first government in history to float increasing income tax rates, only to then U-turn on it, all after the actual budget?
00:16Well, I'll inform the budget's actually next week, rather than after the budget, so we've only got one week to go.
00:23But I can tell her it'll be a Labour budget, Mr Speaker, with Labour values. That means we will concentrate on cutting NHS waiting lists, cutting debt and cutting the cost of living.
00:35And because of the decisions we've already made, inflation is down this morning, the Bank of England have upgraded growth, we've got a record £230 billion of investment into this country under this government.
00:47Mr Speaker, he says the budget is next week, but we read all about it in the papers. This is the first budget to unravel before it's even been delivered.
00:58The Chancellor's cluelessness, I'm afraid, is damaging the economy now. The Prime Minister needs to end this shambles.
01:06So can he confirm today that he won't break another promise by freezing income tax thresholds?
01:12Mr Speaker, the budget is one week today and we will lay out our plans. But what we won't do, Mr Speaker, I've said what we will do in terms of protecting the NHS and public services. What we won't do is inflict austerity on the country, as they did.
01:27It costs huge money. What we won't do is inflict a borrowing spree like Liz Truss did, also inflicted and did huge damage.
01:34Mr Speaker, have they learnt anything? She's apparently got a golden economic rule, I think. So it's a very important rule, this golden rule.
01:43This is £47 billion of cuts with no detail. No one, the Institute of Government says they're on very shaky foundations.
01:51They haven't listened and they haven't learned.
01:55Mr Speaker, it is quite clear that they are going to freeze thresholds. We didn't get a clear answer from them.
02:02But this is really important. Because in her budget speech last year, in her budget speech last year, the Chancellor said, and I quote,
02:11I am keeping every single promise on tax that I made in our manifesto.
02:16So there will be no extension of the freeze in income tax and national insurance thresholds.
02:23Why was freezing thresholds a breach of the manifesto last year, but it isn't this year?
02:28Mr Speaker, Mr Speaker, every week she comes along and speculates and distorts.
02:34Last year, Mr Speaker, they predicted a recession.
02:42And what did we get? The fastest growing economy in the G7 in the first half of the year.
02:47They opposed NHS investment. And what did we get? Five million extra appointments in the first year of a Labour government.
02:53They tried growing the economy with millions on NHS waiting lists, with our schools crumbling and holes in our road.
03:00It didn't work.
03:02What do they want to do now? Go back to the same failed experiment.
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