Topical Questions 2022-10-11
2022-10-11
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
▸
Context
The Chancellor's department is under scrutiny for its economic policies and their impact on social security payments.
Given the government's commitment to increasing social security payments in line with inflation, why won't you honour that promise?
As my right hon. Friend the Chief Secretary to the Treasury and I have repeatedly said, no decisions have been made. The usual statutory process is being undertaken, and we will have more detail at the time of the medium-term fiscal plan.
▸
Assessment & feedback
Specific commitment on social security payments increase
No Decisions Have Been Made
Usual Statutory Process
Response accuracy
Q2
Partial Answer
▸
Context
Essex is a region focused on job creation and economic growth, with plans for the dualling of the A120 between Braintree and Marks Tey.
To support job creation and more economic growth, will you commit to funding the dualling of the A120 between Braintree and Marks Tey along the route specified by the county council, businesses, and local community?
I wish to confirm that the A120 between Braintree and the A12 remains under active consideration, alongside the rest of the third road investment strategy pipeline.
▸
Assessment & feedback
Specific funding commitment
Under Active Consideration
Response accuracy
Q3
Partial Answer
▸
Context
The Chancellor's mini-Budget has caused significant economic volatility, including a rise in the value of gilt yields and the Bank of England stepping in to stabilise financial markets.
Since the disastrous mini-Budget just 18 days ago, we have seen wild swings in the value of the pound, gilt yields up 100 basis points in a single day, and the Bank of England intervening. Now the Government are looking for cuts that hit the most vulnerable and public services. Will you put aside your pride, do the right thing, and reverse the Budget?
Which of the tax cuts do the Opposition want to stop? Do they want to stop the cut in the basic rate? Are they committed to having a high tax economy?
▸
Assessment & feedback
Specific commitment to reverse budgetary measures
Which Of The Tax Cuts Do The Opposition Want To Stop?
Are They Committed To Having A High Tax Economy?
Response accuracy
Q4
Partial Answer
▸
Context
A local business survey indicates that reducing VAT would boost the hospitality sector's recovery and growth.
Early results from my local business survey strongly suggest that a lower VAT rate would increase investment, which would boost recovery and growth in the hospitality sector. Will my right hon. Friend be reviewing the case for a lower rate to bring us back into line with some of our international competitors?
As we now move towards the growth plan, we need to look at the level of taxes on small businesses in general. That is a key part of the work I will be looking at as part of the tax simplification plan.
▸
Assessment & feedback
Specific review of lower VAT rate
Level Of Taxes On Small Businesses
Tax Simplification Plan
Response accuracy
Q5
Direct Answer
▸
Context
Losses due to push payment fraud increased by 71% in the first half of 2021, surpassing card fraud losses.
Push payment fraud losses have increased by 71% in the first half of 2021, surpassing card fraud losses for the first time. What steps is the Chancellor taking to tackle this surge in fraud and ensure victims are reimbursed?
We will be taking powers in the Financial Services and Markets Bill that will mandate reimbursement to consumers.
▸
Assessment & feedback
Response accuracy
Q6
Partial Answer
▸
Context
The energy price cap has prevented nightmare scenarios of extremely high energy bills.
It is a massive relief that the nightmare scenario of energy bills of £4,000, £5,000 or even £6,000 has been prevented by the energy price cap. Will the Government explain how they are reducing the cost to taxpayers of this scheme and stabilising the energy market for the future?
My right hon. Friend was 100% right to notice that the energy intervention was exactly the right thing.
▸
Assessment & feedback
Specific measures for cost reduction and stabilisation
Energy Intervention Was Exactly The Right Thing
Response accuracy
Q7
Partial Answer
▸
Context
The Scottish Government doubled the December bridging payment to £260 for low-income families. The Child Poverty Action Group said this would make a difference to those struggling with the cost of living.
The Scottish Government announced they will double the December bridging payment to £260, and the Child Poverty Action Group noted this would help households. What plans do the UK Government have to follow suit?
The government has a £37 billion intervention targeting vulnerable individuals, including an energy price guarantee. They are committed to helping everyone through challenging times.
▸
Assessment & feedback
Did not specify additional targeted measures for low-income households beyond the £37 billion intervention.
Under Review
Response accuracy
Q8
Partial Answer
▸
Context
The price of heating oil has more than doubled in the past year, impacting rural constituents who are not on the mains gas grid.
While £100 support is welcome, will the Chancellor and Business Secretary review additional support given severe price rises for off-grid heating oil?
A pot of money is reserved to help those off the gas grid, and we are happy to help constituents in this challenging time.
▸
Assessment & feedback
Did not confirm specific review or additional support measures beyond general commitment.
Under Review
Response accuracy
Q9
Partial Answer
▸
Context
The Bank of England is refinancing UK Government bonds, impacting defined benefit and contribution schemes as well as annuities.
Given the Bank of England's actions to refinance government bonds, what discussions has the Chancellor had with the Pensions Regulator about the viability of pension schemes?
Engagement is ongoing with all regulators, particularly the Prudential Regulation Authority, to understand and address issues in long-dated gilt markets.
▸
Assessment & feedback
Did not provide specifics on discussions or impacts related to pension schemes.
Under Review
Response accuracy
Q10
Partial Answer
▸
Context
The Chancellor plans a costed debt reduction strategy in under three weeks. The IFS suggests £62 billion of fiscal tightening over four years is needed.
Will the Chancellor's medium-term fiscal plan include measures to reduce government debt and what analysis supports this, given the IFS predicts significant tightening?
Measures will be fully scrutinised by the OBR, but specifics are not being prejudged or anticipated at this time.
▸
Assessment & feedback
Did not address specific measures or analysis related to debt reduction and IFS prediction.
Prejudging
Response accuracy
Q11
Partial Answer
▸
Context
The IMF predicts longer-lasting inflation than in other economies. Constituents are cutting budgets and concerned about food banks.
Despite confident words, the IMF suggests longer-lasting inflation. With many constituents worried about essential budget cuts and potential reliance on food banks, will the Chancellor reassess his growth plan?
The IMF's 2023 forecast for UK growth has improved due to the mini-Budget, and £97 billion is committed this year for energy support.
▸
Assessment & feedback
Did not address reassessment of the growth plan given concerns about inflation and constituent struggles.
Imf Forecast Improvement
Response accuracy
Q12
Partial Answer
▸
Context
Residents of Harwood Bar caravan park and similar areas require updates on the £400 energy support scheme equivalent.
The previous Chancellor confirmed an equivalent scheme exists for off-grid heating oil users. Could you provide an update for residents in Hyndburn and Haslingden?
A pot of money is reserved to help off-grid users, but specific details about an equivalent scheme are not confirmed beyond existing announcements.
▸
Assessment & feedback
Did not provide detailed update on the equivalent scheme for caravan parks.
General Commitment
Response accuracy
Q13
Partial Answer
▸
Context
Chester city walls maintenance costs £600,000 annually, impacting the local authority's highways budget.
The upkeep of Chester city walls is a significant annual expense. Can the Government set aside funding to support the stewardship of such important heritage assets?
Government supports heritage and cultural sectors through funds from bodies like the National Lottery Heritage Fund and Historic England's repair grants.
▸
Assessment & feedback
Did not confirm specific funding allocation for Chester city walls or similar assets.
General Support
Response accuracy
Q14
Direct Answer
▸
Context
Residents in Eastleigh have been promised funding for the Chickenhall Lane bypass since the 1970s.
Funding has been allocated but not yet provided. Will the Minister agree to meet me and Hampshire County Council to discuss this long-awaited project?
My hon. Friend is a tireless advocate, and I would be delighted to meet him with colleagues from the Department for Transport.
▸
Assessment & feedback
Response accuracy
Q15
Partial Answer
▸
Context
The Bank of England warned that unfunded tax cuts would force them to increase interest rates, which has happened. Mortgages have increased by £500 on average and £900 in London.
The Chancellor was warned that unfunded tax cuts would force the Bank of England to increase rates and that is exactly what has happened. The Bank of England has said today that, in effect, the mini-Budget has caused a material risk to Britain's financial stability. Can the Chancellor explain how people are supposed to pay their mortgages which have gone up by £500 on average and £900 in London? What is he going to do about it, because it is not acceptable that his incompetence is risking people's livelihoods?
I have two points to make on that. First, the Bank of England certainly did not say that the mini-Budget increased risk. Secondly, as rates are rising throughout the world, there is exposure. That is precisely why we thought that it was absolutely right to have the energy intervention, which is for two years—let us not forget that the Labour plan was for only six months—and to reduce the burden on people by reducing taxes.
▸
Assessment & feedback
Did not address mortgage burden directly; defended statement and actions without specific solutions or commitments.
Defended Against Criticism
Highlighted Benefits Of Other Interventions
Response accuracy
Q16
Partial Answer
▸
Context
Housing industry professionals in Winchester are not convinced that the stamp duty reduction will help first-time buyers due to inflation and rising mortgage rates.
Talking to people working in the housing industry in Winchester, I have found that they are not convinced that the stamp duty reduction will help first-time buyers while inflation and particularly mortgage rates are creeping up. Lenders are coming back with some good rates, and the Chancellor will know that, but when he delivers his statement on 31 October, will he ensure that it has confidence at its heart and that it is—knowing him, it will be—a relentlessly positive statement, so that we can push confidence right the way through the market?
It will be relentlessly upbeat. These are challenging times, but we have to live within our means and there will be an absolute iron commitment to fiscal responsibility.
▸
Assessment & feedback
Did not address specific concerns about stamp duty reduction for first-time buyers; focused on broad principles without details.
Discussed General Approach
Response accuracy
Q17
Partial Answer
▸
Context
The government has not committed to increasing the pension credit guarantee component in line with inflation, affecting poor pensioners.
Will the Minister admit that, if the Government do not increase the guarantee credit component of pension credit in line with inflation this year, they are effectively cutting the incomes of our poorest pensioners when they need help most?
We are absolutely committed to fairness and to helping the most vulnerable in our society—we are always committed to that—and I will not prejudge or anticipate measures in the medium-term fiscal plan this afternoon.
▸
Assessment & feedback
Did not commit to increasing pension credit guarantee; focused on general commitment without specifics.
Stated Broad Commitments
Response accuracy
Q18
Direct Answer
▸
Context
The government is reversing the planned increase in national insurance to help households, businesses, and public sector institutions.
Will my right hon. Friend confirm that the cuts to national insurance will help not only working households, but businesses and the public sector, such as schools?
My hon. Friend and constituency neighbour is absolutely right. The reversal of the planned increase in national insurance will help businesses, individuals and the institutions to which he refers.
▸
Assessment & feedback
Response accuracy
Q19
Partial Answer
▸
Context
The value and funding mechanisms for investment zones have not been clearly outlined.
Can the Chancellor state how much the investment zones are worth and how they will be funded?
There will be more detail about investment zones. My right hon. Friend the Secretary of State for Levelling Up, Housing and Communities will be updating the House on the specifics of the zones.
▸
Assessment & feedback
Did not provide specific financial details; deferred to future statement.
Deferred To Future Announcement
Response accuracy
Q20
Partial Answer
▸
Context
Some countries are moving from freezing Russian foreign currency reserves to seizing them for reparations to Ukraine.
Thank you, Mr Speaker. The UK has rightly frozen around £30 billion of Russian foreign currency reserves. A number of countries are moving from freezing those assets to seizing them to pay reparations to Ukraine. Will my right hon. Friend look at similar measures from the UK?
Those measures have been discussed in the past; I think my right hon. Friend the Member for Surrey Heath (Michael Gove) talked about that earlier in the year. Those schemes are always being looked at in the light of what is an increasingly bleak and volatile situation in Russia and Ukraine.
▸
Assessment & feedback
Did not commit to any action on seizing assets; referred to past discussions only.
Referenced Past Discussions
Highlighted Ongoing Review
Response accuracy