The Prime Minister opened Cabinet
by welcoming last night’s positive step, which brings the UK
Government and the Northern Ireland parties closer to restoring
the devolved institutions and delivering for the people of
Northern Ireland.
The Northern Ireland Secretary
updated Cabinet on the package, and said the agreement follows
months of negotiation between the Government and the DUP, and
that it was a critical development for safeguarding Northern
Ireland’s integral place in the Union, improving Northern
Ireland’s public services and putting its finances on a more
sustainable footing.
He concluded by saying that in addition to funding to support
stability, prosperity, and sustainable public services for a
restored executive, the agreement will further ensure that the
whole of the UK can benefit from and seize Brexit Freedoms
together.
The Chancellor updated on the
significant progress the economy has made: growth and living
standards performing better than the OBR predicted; inflation
more than halved and the news today that shop prices rose at
their slowest rate in more than 18 months. He outlined the work
the government is undertaking to boost productivity, raise
educational standards, get people back into work, and cut
business taxes.
The Levelling Up Secretary said
that the social housing reforms announced today will make the
system fairer, prioritise people with connections to the UK and
their local areas, and crack down on those who commit antisocial
behaviour.
The Prime Minister summed up by
recognising that 2023 was a difficult year for the global economy
as we dealt with a challenging global economic environment
following the pandemic and Russia’s invasion of Ukraine. But
progress is now being made: inflation halved, wages rising faster
than inflation for 6 months, debt forecast to fall, and borrowing
costs starting to come down.
He said that there is more to do,
but because of the progress we’ve made, we’ve been able to cut
taxes and ensure hard work pays, with the National Insurance
Contribution cuts hitting most people’s payslips tomorrow.
