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Ways and Means - Financial Statement and Budget ReportWays and Means
15 March 2023
Lead MP
Jeremy Hunt
Debate Type
Ministerial Statement
Tags
EconomyBusiness & TradeParliamentary Procedure
Other Contributors: 2
At a Glance
Jeremy Hunt raised concerns about ways and means - financial statement and budget reportways and means in the House of Commons. A government minister responded. Other MPs also contributed.
How the Debate Unfolded
MPs spoke in turn to share their views and ask questions. Here's what each person said:
Government Statement
Madam Deputy Speaker, in the face of economic challenges, Jeremy Hunt reports that the UK economy is stabilising with a reduction in gilt rates, lower debt servicing costs, decreased mortgage rates, and peaking inflation. The International Monetary Fund affirms the UK's correct approach to stability. The Office for Budget Responsibility forecasts no technical recession this year, predicting halving of inflation from 10.7% to 2.9%, reduced debt, and economic growth. A £94 billion support package is in place to aid struggling families with a £2,500 energy price guarantee and uprating benefits with inflation, providing over £3,300 cost-of-living help per household. The Government aims for long-term sustainable growth through business investment facilitation, labour shortage alleviation, barrier reduction for employment, and technology advancement to make the UK a superpower in science and technology. Additionally, the energy price guarantee will remain at £2,500 for three months, saving families an extra £160, and prepayment metre charges are being aligned with direct debit rates.
Question
How’s it going?
Minister reply
[Minister did not provide an answer to this interruption]
Question
You’ll be gone by then.
Minister reply
[Minister did not provide an answer to this interruption]
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About House of Commons Debates
House of Commons debates take place in the main chamber of the House of Commons. These debates cover a wide range of topics including government policy, legislation, and current affairs. MPs from all parties can participate, question ministers, and hold the government accountable for its decisions.