Economic Update

Question

The Chancellor has set out a three-part package today, but is there more the Government can do now, such as cutting VAT on energy? Given that many of the poorest households will still face significant price rises from April, what additional measures will be taken?

Question

The SNP leader questioned the fairness of supporting energy companies instead of households directly. The increase in wholesale prices is leading to a £693 rise for the average household but only 17% of this cost will be met by today's measures. Is it fair that some families face hundreds of pounds more for their energy bills from April?

Question

With energy prices likely to rise further in October if wholesale prices remain high, what contingency plans does the Government have for this potential scenario?

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The Labour MP expressed concern about the impact on pensioners who may be eligible for benefits but not receive additional support under the announced measures. What can the Government do to better target those in need?

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Criticised the Chancellor for not cutting VAT on energy bills and highlighted inconsistencies with previous statements. Suggested Labour's proposal is more effective in targeting support.

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Welcomed the Chancellor's announcement and questioned whether VAT cuts are a flawed policy. Asked about potential sanctions against Russia.

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Questioned the Chancellor's measures regarding tax rises and recovery. Inquired about council tax rebates for Scotland.

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Complimented the Chancellor's statement and asked about helping middle-income families.

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Questioned the funding mechanism for council tax rebates and its distribution.

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Questioned the approach of increasing national insurance contributions followed by rebates and discounts.

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There is an obvious unfairness in the massive profits being made by oil and gas companies at a time when families are facing hardship. Surely the Chancellor must intervene to address this. He has announced a discretionary fund for local councils, but worried families will have no idea how much that benefits them. Will he instead introduce an uplift in universal credit?

Question

Many families will struggle with energy bills this year. Will the Chancellor commit to supporting those in middle Britain, as well as the lowest incomes?

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What does the Chancellor have to say to constituents in Vauxhall who are already struggling with fuel poverty and face a £700 increase in energy bills?

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Will the Chancellor confirm that Bank of England independence will be respected regarding monetary policy, including interest rates and quantitative easing?

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Does the Chancellor think that Shell’s $20 billion in super-profits are untouchable? Will his hands-off approach persuade many people?

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Does the Chancellor agree that analysis from Labour Members is a demonstration of their approach’s paucity regarding energy? Is not our approach to a zero-carbon economy based on energy security going to deliver us out of short-term problems?

Question

This is pretty puny stuff, with £350 not touching my constituents' problem. Gas and electricity are up for them by £686; fuel is up by £314; average shop costs have increased by £385; universal credit was cut by £1,040; national insurance went up by £150; and frozen tax allowances cost another £300. That makes £2,875 in a constituency where the average wage is £27,000.

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Thanking the Chancellor for his statement before a press conference. I also thank him for engaging with Conservative colleagues, listening to their concerns, and setting out a package that smooths the impact of global gas prices.

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My constituents think differently. The Conservative party cut £20 a week from universal credit; this £350 does not cut it when the Chancellor has wasted billions on personal protective equipment and covid funds.

Question

To champagne socialists £350 is not a lot of money. My right hon. Friend knows that I care deeply about this issue. Will he continue to focus on the just-about-managing group?

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Why won't he listen to the Liberal Democrats’ suggestion of a package that would help families reduce bills by £1,000 a year? Why not scrap Conservative tax hikes?

Question

I congratulate my right hon. Friend on the comprehensive package of support that he has provided, which is fiscally responsible in the face of global energy-price volatility. My constituents will have the benefit and reassurance of the rebate on energy bills that the Chancellor has announced, but they will not have the reassurance of the council tax support he is making available in England. Will he at least encourage the Welsh Government to follow suit, so that my constituents have the same benefit as those in England, or even go a step further and insist that the benefit is passed on?

Question

On the council tax rebate, some of the poorest families do not pay significant amounts of council tax because they are on council tax support schemes. Even if their council tax bills are less than £150 a year, will they still get the full £150? Will their local authority pay that to them in cash in April? On the £150 million discretionary fund, will it truly be at the discretion of councils to decide how they spend it, or will the Government direct how it is spent?

Question

I thank the Chancellor for an extremely welcome package, which is the latest step in a series of strong reactions to different crises throughout the pandemic and today. He also mentioned improving investment in North sea gas fields, which is very welcome. It is only a temporary set of solutions, however, that will dull the initial economic pain without solving the long-term problem of sky-high energy prices. What conversations has he had with the Energy Secretary, who is sitting next to him, about solutions to deal with those longer-term problems? When we can we expect to hear answers on such things as reforming the price cap and the wholesale energy market?

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May I say how nice it is to finally see the Chancellor in his place? Some of us had been considering filing a missing persons report given his absence in recent weeks. Although I appreciate his update, for families across Pontypridd and Taff Ely, it is another case of too little, too late. The Welsh Labour Government have doubled the warm home discount scheme and Labour’s proposal would have taken £600 off the bills for the poorest in our country, but his plan gives them £350 off. Why does it fall so far short of what is needed and what is proposed?

Question

I welcome the Chancellor’s recognition, as my hon. Friend the Member for Weston-super-Mare (John Penrose) said, of the importance of a long-term energy policy. I thank him very much for the help for council tax payers. Bands A to D cover most folks on the Island. Can he confirm that he is talking about people with primary residences on the Island and nationally?

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I thank the Chancellor for his contribution. I do not want to be churlish—a fair bit of money has been set aside and we appreciate that—but with the further rise in energy prices and the uplifted cost of living in general, working families will have to choose what to cut out of their lives to make ends meet. I put on record that I welcome the £150 million for Northern Ireland and the other Barnett consequentials, but will he consider and commit to reviewing the child benefit threshold for families whose wages are the same but are simply not worth the same in real money terms as when the threshold was introduced in 2013?

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I warmly welcome the Chancellor’s statement because 94% of properties in Stoke-on-Trent are in council tax bands A to C, so the £150 rebate will do wonders across Stoke-on-Trent North, Kidsgrove and Talke. From his recent visit to the city, he knows that the ceramics sector is an energy-intensive industry and will be looking for more creative solutions in the short term to help with rising energy costs. Can he confirm that he will meet me and other Stoke-on-Trent MPs to discuss those ideas further?

Question

We all know that the Chancellor is a fast-talking, slick operator who knows how to keep his head down when it is useful, but as someone who has been in the House since 1979, he is the most incompetent Chancellor that I have ever seen. When children go to bed—[Interruption.] He does not like it, but when children in my constituency go to bed with no food in their tummies and no heat in their homes, what does he think is the honourable position of a Chancellor who has just allowed £4.3 billion to be taken in fraud from one of his direct policies under his watch? Any other Chancellor that I have known would have come to the House today to resign.

Question

This is a targeted package that helps those just about managing, which is entirely right. The last Labour Government closed six nuclear power stations and had a policy of no new nuclear. Does my right hon. Friend agree that, alongside these measures to help people in the short term, it is imperative that we invest in our long-term energy security—in domestic gas production, in renewables, and, crucially, in new nuclear?

Question

The Chancellor will be aware that nearly 20% of households in Wales are not connected to the mains gas grid. In rural areas such as Ceredigion, that figure actually rises to more than 80%. Research by the Office for National Statistics notes that Ceredigion suffered the highest increase in fuel bills over any area in mainland UK in the past year, increasing by £863 on average. Will the Chancellor confirm whether the rebate announced today will also apply to households that are not connected to the main power grids?

Question

Quite simply, this is a superb plan—very well done. My right hon. Friend is right to question the Opposition’s idea of a windfall tax, given that Gordon Brown completely stifled the telecoms market in the late ‘90s by doing exactly the same. Speaking as the chair of the all-party group for district councils, I wonder whether my right hon. Friend will join me in thanking councils for once again being able to offer swift and agile responses to local communities and families in helping us to deliver this today.

Question

With the cost of living crisis, will the measures introduced today see an increase or decrease in children living in poverty by Christmas?

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Can the discretionary £150 million fund ensure support for those living in military family accommodation who are not eligible for council tax?

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How do the plans address prepayment metre customers facing high energy costs?

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How can pension credit outreach help residents in Kettering with rising energy bills?

Question

Correct the record on job numbers post-pandemic and explain the national insurance tax imposition.

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Will the plan provide faster and more substantial help to constituents in Wycombe?

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What additional steps are taken to ensure older people and those with disabilities aren’t pushed into poverty?

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Will the policy remain under review if energy prices continue rising?

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How is the support for hard-pressed families compared to fraudsters?

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How do these measures target the most vulnerable in her constituency?

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The Chancellor’s package offers £350 off to the poorest households. Labour’s proposals offer £600 off to the poorest households. The cap has gone up by £693. Why is the Chancellor offering the poorest households so much less than they would get under Labour?

Question

I welcome this generous plan, especially the inclusion of families on middle incomes, which will do a lot to help many of my constituents in Rushcliffe. Does my right hon Friend the Chancellor agree that now is the time for us to be investing in our domestic energy industry and energy security—in turbo charging our move to clean energy, as we are doing in the east midlands freeport, rather than risk driving investment from the UK with a counterproductive windfall tax as the Labour party would?

Question

With families facing an extra £2,800 of expenses, this package does not really touch the sides at all, does it? With regard to electricity, the Chancellor said: “with the Government meeting the cost in full.” But he is not is he? He is spreading it over five years, which means that next year, when electricity prices continue to rise, the poorest families will face increased bills and have to find £40 to pay back to the Chancellor. You have not put a lid on it, Chancellor, you have just kicked the can further down the road.

Question

I thank my right hon Friend the Chancellor for meeting me and colleagues and responding so positively on this issue. He may remember that I asked him to ensure that any support extended to cover those just above benefit thresholds because they are often most in need of help. How does the support that he has announced today for those constituents compare with the suggestions made by Labour?

Question

A poll by Survation today reveals that 63% of the public support a windfall tax on oil and gas producers’ profits. It is not like this Government to ignore the polls so may I suggest that, rather than misnaming, as he did in his statement, a renewable loan as a discount, why not go for the windfall tax and give that money to our hard-pressed constituents?

Question

I thank my right hon Friend for these packages, which will help my constituents across my constituency. On the issue of a windfall tax, will my right hon Friend confirm that the Labour party’s call for a windfall tax would undermine competition in the market, reduce investment and kill off jobs? Ultimately it would mean that energy prices were likely to be higher for longer and hit the poorest the hardest.

Question

I thank the Chancellor for his statement. My constituents in Bassetlaw will be breathing a sigh of relief at his announcements today, which blow the Opposition’s VAT cut out of the water. The Chancellor mentioned wholesale prices; as we become more self-sufficient and move to renewables and new nuclear, is he able to outline what the Government and the Treasury are doing to tackle this problem at source? May I suggest the excellent step fusion project in Bassetlaw that we are bidding for?

Question

I thank my right hon Friend for today’s statement, and for confirming that this significant £9 billion package is going to be targeted at those who need help most. He also highlighted that 80% of cost increases are coming from the global wholesale price increase, so is he going to continue his focus on trying to insulate the UK as much as possible from those global price fluctuations, increasing our energy security, boosting domestic production and ensuring that our energy supply is diverse in nature, sustainable for the future and significant in scale?

Question

I welcome these targeted and fair measures that will help those who need help most. While Labour’s VAT plans would help by just £89, I welcome the fact that this council tax rebate will help 89% of households in Yorkshire and Humber—I have just had the figures through—with a £150 rebate. Will the Chancellor also confirm that those who fall outside the A to D bandings and who still need help will be able to get that help through the extra discretionary funding for local councils?

Question

I thank the Chancellor for the £350 help that will really benefit everyone in Rother Valley. Does he agree that it is right that this Government are helping not just those on means-tested benefits, but those not on benefits—the lower and middle-income families—because they also need a helping hand? It is great that this Government reward hard work and those who are doing the right thing.

Question

Thank you very much, Mr Deputy Speaker; it is always a pleasure to see you in the Chair. Could my right hon Friend confirm that all UK households will benefit from the £200 smoothing rebate, and that almost 95% of County Durham residents will benefit from the £150 council tax rebate, including those who are off-grid—a similar proportion to the constituency of the right hon Member for Doncaster North (Edward Miliband), who I see has now scuttled away? That £150 is over 50% more than Labour’s VAT plan, which would have benefited the richest people most. Will the Chancellor continue to pursue a one-nation Conservative approach, not an inner London two-kitchen one?