Part of the debate – in the House of Lords at 3:10 pm on 16 September 2025.
Lord Livermore
The Financial Secretary to the Treasury
3:10,
16 September 2025
I certainly agree with the first half of my noble friend’s question. It is important to restate that the UK is the fastest-growing economy in the G7. The economy grew by 1% in the first half of this year, well above the OBR’s forecast of 0.6%. It is also worth drawing attention, as I did, to Lloyds’ latest business barometer, which shows business confidence rising for the fourth consecutive month. It is now at the highest level since 2015. UK firms remain optimistic about their own trading prospects, and firms remain upbeat about their business activity over the next 12 months.