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 her the budget is actually next week, rather than after the budget.
00:21She's only got one week to go.
00:24But I can tell her it'll be a Labour budget, Mr Speaker, with Labour values.
00:28That 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.
00:49Mr Speaker, he says the budget is next week, but we read all about it in the papers.
00:53This is the first budget to unravel before it's even been delivered.
00:59The Chancellor's cluelessness, I'm afraid, is damaging the economy now.
01:03The 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?
01:13Mr Speaker, the budget is one week today and we will lay out our plans.
01:17But what we won't do, Mr Speaker, I've said what we will do in terms of protecting the NHS and public services.
01:22What we won't do is inflict austerity on the country as they did.
01:27It caused huge money.
01:28What 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?
01:36She's apparently got a golden economic rule, I think.
01:41So it's a very important rule, this golden rule.
01:43This is £47 billion of cuts with no detail.
01:48No 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.
02:00We didn't get a clear answer from them, but this is really important.
02:03Because 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?
02:29Mr Speaker, every week she comes along and speculates and distorts.
02:33And last week, last year, Mr Speaker, last year they predicted a recession.
02:42And what did we get?
02:43The fastest growing economy in the G7 in the first half of the year.
02:47They opposed NHS investment.
02:49And what did we get?
02:50Five million extra appointments in the first year of a Labour government.
02:54They tried growing the economy with millions on NHS waiting lists,
02:57with our schools crumbling and holes in our road.
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