All eyes will be on Rachel Reeves today as the UK’s first female Chancellor of the Exchequer delivers her inaugural Budget in the House of Commons setting out Labour’s fiscal priorities.
12.28pm
Rishi Sunak has thanked Speaker of the House Sir Lindsay Hoyle and Prime Minister Sir Keir Starmer during his final PMQs, and said he will be spending more time in Yorkshire – “the greatest place on earth” – once he is no longer leader of the Conservatives.
The outgoing Leader of the Opposition, who is MP for Richmond and Northallerton in North Yorkshire, told MPs: “Mr Speaker, thank you for your kind words, and indeed, thank you to the Prime Minister for his kind words.
“Indeed, no prime minister looks forward to PMQs, but I always did like this pre-Budget one, because it was for a change, nice not to be the main event and just the warm up act.
“But today is my last appearance at PMQs, and I’m happy to confirm reports that I will now be spending more time in the greatest place on earth where the scenery is indeed worthy of a movie set, and everyone is a character – that’s right, if anyone needs me, I will be in Yorkshire.
“And as an adopted Yorkshireman, I’m particularly looking forward to doing the coast to coast walk that runs through my constituency and many others. Since 2015 we’ve made significant progress with a campaign to make it a National Trail, and indeed, Natural England are close to concluding their work.
“So can I ask the Prime Minister to ensure that the Coast-to-Coast (walk) does indeed become Britain’s greatest National Trail, and in preparation for my return to the back benches, would he meet with me to discuss it?”
Sir Keir Starmer replied: “I thought he was about to ask me to join him on the walk, but certainly I will meet him.”
12.20pm
Sir Keir Starmer thanked former prime minister Rishi Sunak for his “decency” during Prime Minister’s Questions.
The Prime Minister said: “I wish everyone celebrating in the UK and around the world a joyful Diwali, a time to come together to celebrate and focus on a brighter future.
“Last Diwali, the leader of the opposition and his family lit the diyas outside 10 Downing Street.
“It was a significant moment in our national story: the first British Asian prime minister is a reminder that this is a country where people of every background can fulfil their dreams, and it makes us all proud to be British.
“This is our last exchange across the despatch boxes. I wanted to take this opportunity to thank the Leader of the Opposition for his service.
“Now, of course, we’ve had political disagreements, ideological disagreements, we’ve argued at some length, but I want to thank him for his hard work, for his commitment and for his decency in everything that he has done, and I too, wish him and his family the very best for whatever the future may hold for them.”
12.16pm
Opening Rishi Sunak’s final appearance at Prime Minister’s Questions in the Commons, Speaker Sir Lindsay Hoyle thanked the former prime minister for their “working relationship”.
Sir Lindsay said: “I would like to mark the fact that this is the last time (Mr Sunak) will appear at the despatch box during PMQs, he has a bit more to do afterwards, but he has spoken at this despatch box as chancellor of the Exchequer, the prime minister, leader of the opposition, and after today, we all look forward to his continued contributions from the back benches.
“We wish him and his family well in their future endeavours, and I say personally, thank you for our working relationship.”
12.15pm
Before PMQs began Speaker Sir Lindsay Hoyle warned MPs should not make any reference to the Southport case in the Commons to avoid prejudicing the legal process.
He told MPs: “I wish to remind the House that, following the horrendous terrible incident in Southport on July 29, a suspect is awaiting trial having been charged with multiple offences. That means the House sub judice resolution is engaged and references should not be made to the case.
“I know that all honourable members wish to see justice done in this case. It is therefore of paramount importance that nothing is said in this House which could potentially prejudice a proper trial or lead to it being abandoned.”
12.09pm
11.58am
Rachel Reeves will deliver her Budget at around 12.30pm, following PMQs. Mr Sunak will then offer his response before MPs being debating.
He was previously appointed Chancellor of the Exchequer from February 13 2020 to July 5 2022 and chief secretary to the Treasury from July 24 2019 to February 13 2020.
Chancellor @RachelReevesMP has left Number 11 to deliver her first Budget. pic.twitter.com/SN8MYK0rzm
— HM Treasury (@hmtreasury) October 30, 2024
11.40am
Prime Minister Sir Keir Starmer is heading to the Commons where he will take questions from Conservative leader Rishi Sunak before Rachel Reeves delivers her Budget. It will be Mr Sunak’s final PMQs as party leader.
11.29am
11.17am
10.30am
9.30am
One of the key Budget announcements has already been confirmed, with Rachel Reeves saying on Tuesday the minimum wage will rise to £12.21 an hour next year, a 6.7% increase.
The Chancellor described the move as a “significant step” towards delivering on Labour’s manifesto promise to introduce a “genuine living wage for working people”.
It will mean an extra £1,400 a year for a full-time worker earning the main minimum wage rate, known as the national living wage, from April 2025, but will still fall short of the £12.60 per hour UK living wage calculated by the Living Wage Foundation.
The Chancellor also announced that the minimum wage for people aged 18-20 would rise to £10 an hour, an increase of £1.40.
9am
Rachel Reeves has posted on X to mark her first Budget delivery, saying: “Politics is about choices. This Labour government chooses investment over decline.”
Politics is about choices.
— Rachel Reeves (@RachelReevesMP) October 30, 2024
This Labour government chooses investment over decline.
On Tuesday, she tweeted a photo from her office in 11 Downing Street putting the final touches to her speech, which will be delivered in the Commons at about 12.30pm, following Prime Minister’s Questions.
Tomorrow we deliver on our promise of change. pic.twitter.com/hWtGiZZclz
— Rachel Reeves (@RachelReevesMP) October 29, 2024
