BUSINESS Secretary Peter Kyle has said ”just wait and see” in response to reports that the government is set to announce a £15 billion increase in benefits spending in the Budget.

He told GB News: “Well, you’re talking entirely based on speculation that’s in tabloid newspapers today, and each day the speculation changes. Now, I understand that there’s been a lot of speculation in the lead up to this Budget, but whereas with only two days to go, the facts will come out on Wednesday.

“Let’s wait for those facts to emerge. But what we do know is that this will be a Budget where we will get a grip on the cost of living challenges, because that is what’s affecting people up and down the country, will protect the NHS, and we will make sure that we start to tackle the long term debt challenges that we inherited from the previous government.

“We will also lay the foundations for growth. The only way that our country can move forward, the only way we get real fairness for working people and pensioners right across the country is to get growth into our economy. And that is what I, as Business Secretary, am doubling down on.”

Responding to a claim from the Conservatives that the government’s Employment Rights Bill will put an end to seasonal work opportunities, he said: “What Kemi Badenoch is doing is what she always does, and that she’s just trying to scare people.

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“The fact is that when the legislation passes, because the Conservatives are blocking it in the House of Lords, that we will then move to a period of intense consultation with business over those exact issues. We’ll have 26 separate consultations so we get these things right.

“The Labour manifesto is very, very clear. This is a piece of legislation that does not pit businesses against the people who work in businesses. This is a piece of legislation where we will strive so that it is pro-business and it is pro the people who work in these businesses.

“Employment legislation has not been updated for almost a generation and in that time there have been things emerging in the modern economy which simply weren’t there before. And we need to make sure that the legislation is updated.

“As I said, this is legislation and I am as Business Secretary determined to ensure that this leads to a more harmonious relationship between businesses and the people who work in those businesses going forward, and that is what I am determined and reconciled to do.”