Commons Sense

House of Commons · PMQs

PMQs

Wednesday 21 June 2023 · 28 questions

Summarised by AI from the official record, so it can contain mistakes.

At a glance

Answered 6 Partly answered 16 Not answered 0

Key points

  • Prime Minister acknowledged the pressure inflation puts on family budgets and noted the UK Government's support for families.
  • Prime Minister announced the UK Government's commitment to nuclear fuel production capacity through a 75 million nuclear fuel fund.
  • Prime Minister stated that the government is addressing mortgage issues by increasing support for the mortgage interest scheme and establishing a Financial Conduct Authority consumer duty.

Topics (select to filter)

Questions & Answers

Context

Inflation continues to outstrip pay awards, expected rise in interest rates tomorrow.

Question

Given that inflation continues to outstrip pay awards, and given that we expect to see the 13th consecutive rise in interest rates tomorrow, will the Prime Minister tell us by how much living standards have fallen during his eight months in office?

Answer from Rishi Sunak

I have always been clear about the fact that inflation is putting pressure on family budgets. The UK Government have taken decisive action to support families through this difficult time, including households in Scotland, who are receiving considerable support—not just help with energy bills, but help for the most vulnerable as well.

Partly answered

Not addressed: Did not specify by how much living standards have fallen

How: Support Families Through Difficult Time

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Context

Support for the nuclear industry in achieving secure, low-carbon energy.

Question

On this side of the House we have a proud record of supporting the nuclear industry, which plays an essential part in the achievement of secure, low-carbon energy. I am delighted that my right hon. Friend has given his backing to the next generation of nuclear reactors, including small modular reactors and larger projects. Will he now commit himself to ensuring that the fuel for these projects is manufactured in the UK, which will secure long-term, high-skilled employment at key sites in the north-west such as Springfields Fuels in my constituency, and a supply chain across the UK?

Answer from Rishi Sunak

We are preserving and strengthening the UK's nuclear fuel production capacity through our £75 million nuclear fuel fund, and I know that Springfields Fuels has benefited from £30 million of funding. My hon. Friend is right to say that our domestic nuclear fuel sector has a critical role to play in supporting the UK's energy security and independence, and I know that he will continue to be a champion for the industry in the House.

Answered

Not addressed: null

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Q3 Keir Starmer Lab Holborn and St Pancras
Context

Echoing the Prime Minister's comments on Windrush generation, paying tribute to Glenda Jackson, question about a 'mortgage catastrophe'.

Question

I echo the Prime Minister's comments about the Windrush generation, who have contributed so much to our country, and join him in paying tribute to the armed forces, in this week and all weeks. Let me also say that Glenda Jackson's passing leaves a space in our cultural and political life that can never be filled. She played many roles, with great distinction, passion and commitment: Academy award-winning actor, campaigning Labour MP, and an effective Government Minister. We will never see talent like hers again. One of the Prime Minister's own MPs says that Britain is facing a “mortgage catastrophe”. Does he agree with her?

Answer from Rishi Sunak

Let me start by joining the right hon. and learned Gentleman in his tribute to Glenda Jackson. It is right that we support those with mortgages, which is why halving inflation is absolutely the right economic priority. Inflation is what is driving interest rates up, and inflation is what erodes savings, pushes up prices, and ultimately makes people poorer.

Partly answered

Not addressed: Did not directly address if he agrees with his MP's statement about a mortgage catastrophe

How: Support Those With Mortgages

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Q4 Keir Starmer Lab Holborn and St Pancras
Context

Prime Minister's comments on not influencing anyone or anything.

Question

I realise that the Prime Minister has spent all week saying that he does not want to influence anyone or anything, but he was certainly keeping to that in his answer. He knows very well the cause of the “mortgage catastrophe”: 13 years of economic failure, and a Tory kamikaze Budget which crashed the economy and put mortgages through the roof. Will the Prime Minister tell us how much the Tory mortgage penalty will cost the average homeowner?

Answer from Rishi Sunak

As ever, the right hon. and learned Gentleman is not aware of the global macroeconomic situation. Let me tell him and the House what we are doing to support those with mortgages. We have deliberately and proactively increased the generosity of our support for the mortgage interest scheme.

Partly answered

Not addressed: Did not specify how much the Tory mortgage penalty costs average homeowner

How: Not Aware Of Global Macroeconomic Situation

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Q5 Keir Starmer Lab Holborn and St Pancras
Context

Prime Minister's refusal to answer questions about the cost of Tory mortgage penalty.

Question

Let's test that. The question that the Prime Minister refuses to answer—he knows the answer: £2,900 extra—is the cost to the average family of the Tory mortgage penalty. He was warned by experts about this as long ago as autumn last year, but he either did not get it, did not believe it or did not care, because he certainly did not do anything. When I raised this a couple of months ago, he had the gall to stand at that Dispatch Box and say he was delivering for homeowners. How is an extra £2,900 a year on repayment delivering for homeowners?

Answer from Rishi Sunak

Let's just look at the facts. The right hon. and learned Gentleman talks about interest rates. Perhaps he could explain why interest rates are at similar levels in the United States, in Canada, in Australia and in New Zealand and why they are at the highest level in Europe that they have been for two decades.

Not addressed: Did not answer how extra £2,900 a year benefits homeowners

How: Talks About Interest Rates

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Q6 Keir Starmer Lab Holborn and St Pancras
Context

James, a police officer from Selby, faces an additional £400 per month due to the Tory mortgage penalty. This represents nearly £5,000 annually and has led James's family to decide to sell their house and downsize.

Question

I spoke to James in Selby who is facing an extra £400 each month due to the Tory mortgage penalty. He has decided to sell his house because of this burden. Over the next few years, 7.5 million people will face similar situations. With repossessions already up by 50%, what is the Prime Minister going to do to ensure more families do not lose their homes?

Answer from Rishi Sunak

We have increased support for the mortgage interest scheme and established a Financial Conduct Authority consumer duty that allows borrowers to extend their mortgage term or switch to interest-only mortgages. We are also spending tens of billions of pounds on household living costs, and repossessions are below pre-pandemic levels due to our actions.

Partly answered

Not addressed: The answer provided some steps but did not specifically address how these measures will prevent families from losing their homes.

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Q7 Keir Starmer Lab Holborn and St Pancras
Context

After 13 years of economic failure, people across the country are facing dire financial situations due to uncosted and reckless decisions by the Tory party. Mortgage rates have risen sharply, causing significant concern among working families.

Question

The Prime Minister is rewarding those who caused misery for millions while working people worry about mortgage rates and potential repossessions. What does it say about this Government that they are focusing on honours instead of addressing these urgent issues?

Answer from Rishi Sunak

The right hon. and learned Gentleman does not have a plan for this country, focusing on personal attacks rather than delivering results. We are reducing waiting lists, stopping illegal immigration boats, and addressing inflation.

Not addressed: The answer changed the subject entirely from economic concerns to government achievements without addressing the specific issues raised about economic policy and working families' worries.

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Q8 Keir Starmer Lab Holborn and St Pancras
Context

Constituents are concerned about rising energy prices and the reliability of energy supply. There is a need for greater domestic production to reduce dependency on foreign sources.

Question

Will the Prime Minister assure me that he will not cave in to extremist bullies from Just Stop Oil or Labour's leadership but instead commit to developing new oil and gas production within the UK, which would be beneficial for jobs, economy, and reducing our reliance on imported energy?

Answer from Rishi Sunak

Putin's weaponisation of energy has highlighted the need for greater UK energy security. We launched a new licensing round for North Sea oil and gas investment, which is forecasted to reduce our dependence on imports.

Answered
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Context

The Prime Minister previously stated that borrowing costs are back to normal levels, that inflation would halve by the end of the year, and expressed optimism about the economy. Current economic data contradicts these statements.

Question

In February, the PM said borrowing costs were where they should be; in March, he claimed we'd halve inflation by the end of 2023; in May, he stated economic optimism was increasing. Given today's dire economic reality, does it not show a lack of honesty based on previous statements?

Answer from Rishi Sunak

The IMF has upgraded its growth outlook for the UK economy this year, contradicting pessimistic views. We have averted a predicted recession due to our actions.

Partly answered

Not addressed: While providing some context from external sources, the response did not directly address whether past statements were honest or accurate in light of current economic conditions.

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Q10 Stephen Flynn SNP Aberdeen South
Context

In February, the PM said borrowing costs were where they should be; in March, he claimed we'd halve inflation by the end of 2023; in May, he stated economic optimism was increasing. Current economic data contradicts these statements.

Question

Given past predictions about borrowing costs, inflation reduction, and economic optimism, does it not show a lack of honesty from the Prime Minister based on today's economic reality?

Answer from Rishi Sunak

The IMF has upgraded its growth outlook for the UK economy this year, contradicting pessimistic views. We have averted a predicted recession due to our actions.

Partly answered

Not addressed: The answer did not address whether past statements were accurate or honest given current economic data.

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Q11 Stephen Flynn SNP Aberdeen South
Context

The MP noted that mortgage deals in Ireland are around 4.5% while the UK is over 6%, and inflation in the euro area is closer to 6% compared to the UK's 8.7%. He highlighted the economic challenges faced by households post-Brexit referendum.

Question

From listening to the Prime Minister's answer, I do not think he quite grasps the reality of the economic situation facing households across these isles—how could he? But it does not need to be like this and it did not need to be like this. Because mortgage deals in Ireland are not sitting in excess of 6%—they are at about 4.5%. Inflation in the euro area is not sitting at 8.7%—it is sitting at closer to 6%. Britain is broke. Seven years after the Conservatives' EU referendum, will he finally admit that it was Brexit that broke it?

Answer from Rishi Sunak

Again, I do not think that the hon. Gentleman was paying attention earlier; interest rates in this country are at similar levels to those in America, Canada, Australia and New Zealand. The rise in inflation and interest rates is a global phenomenon. But that is why, early, I set out that bringing inflation down was the right economic priority to have. That is what this Government will do, but that requires difficult and responsible decisions. That is what leadership looks like—I do not think the SNP will ever do the same thing.

Partly answered

Not addressed: Did not directly address whether Brexit caused the UK's economic situation

How: Under Review, Global Phenomenon

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Context

The MP highlighted Wylfa in her constituency as the best site for small modular reactors and large-scale new nuclear in the UK, noting the Government's commitment to nuclear.

Question

Wylfa, in my constituency, is recognised as the best site for small modular reactors and large-scale new nuclear in the UK. Given the UK Government's commitment to nuclear and Wylfa, when can my constituents expect to hear the result of Great British Nuclear's small modular reactor competition? Diolch yn fawr.

Answer from Rishi Sunak

There will be no greater champion for this technology and her community than my hon. Friend. My understanding is that the first stage of market engagement is already under way. The expectation is that the down-selection process will be launched this summer, with an ambition to assess and decide on the leading technologies this autumn. The competition will be open, judicious, fair and robust, and I express all my confidence that we will select the best technology for the United Kingdom.

Answered

Not addressed: null

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Context

The MP expressed concern about the lack of a restored Northern Ireland Executive or Assembly, facing an unprecedented budget crisis.

Question

Four months after the welcome Windsor framework, there is still no restored Northern Ireland Executive or Assembly, and we are facing an unprecedented budget crisis. This situation is untenable, and it is getting worse every day. The Government's approach seems to be to wait to see whether something happens, rather than to lead from the front. So will the Prime Minister confirm that he is willing to work with the Northern Ireland parties on a financial package for a restored Executive? Will he work more closely with the Irish Government to try to drive a process, including putting reform of the institutions on the agenda, so that those who want to govern Northern Ireland can do so?

Answer from Rishi Sunak

I thank the hon. Gentleman for his engagement with me and the Government during this process. I share his frustration, and our focus remains on delivering for the people of Northern Ireland, who expect and deserve their locally elected decision makers to address the issues that matter to them most. I thank him for his kind words about the Windsor framework and how it allows us to move forward. For many years, we have recognised the particular challenges facing Northern Ireland, which is why we have provided more than £7 billion of funding, on top of the Barnett block grant, since 2014.

Partly answered

Not addressed: Did not confirm willingness to work directly with Irish Government or provide specific financial package details

How: Under Review

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Q14 Liam Fox Con
Context

The MP highlighted the positive economic outlook for the UK, contrasting it with a recession in the eurozone.

Question

Since 2016, cumulative growth has been 4% in Italy and 5.5% in Germany, whereas in the UK it has been 6.8%. In July last year, British exports to the European Union were the highest not just since Brexit, but since records began. The UK had the highest growth of any G7 country in both 2021 and 2022. The eurozone is currently in recession, but we are not. Is it not time that we heard more good news and talked Britain up?

Answer from Rishi Sunak

My right hon. Friend is quite right to highlight the improvement in our economic outlook and the good, positive news showing the strength in the underlying economy. I know that he joins me in saying that our economic priority right now must be to continue to bear down on inflation, but while we do that, we are putting in place the conditions to grow the economy.

Partly answered

Not addressed: Did not confirm willingness to highlight positive economic news explicitly

How: Under Review

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Context

The MP praised the match at Hampden but noted that English and Welsh fans had free access to watch their national teams on Channel 4 and S4C, while many Scots could not afford the subscription to Viaplay.

Question

Last night was another fantastic night at Hampden—it was a real tonic during tough times for the tartan army and Scotland more widely. However, whereas English and Welsh fans could watch their national teams for free on Channel 4 and S4C, only a small fraction of Scots could watch their match, with many unable to afford the subscription to Viaplay, particularly during this cost of living crisis. Does the Prime Minister agree that that is inherently unfair, and will he ask the Department for Culture, Media and Sport Secretary to meet me to discuss how to fix this situation?

Answer from Rishi Sunak

I join the hon. Gentleman in his comments about the match. I know the Secretary of State for Culture, Media and Sport, my right hon. and learned Friend the Member for South East Cambridgeshire (Lucy Frazer), is engaging with him and others on this particular topic, and I will make sure that she gets back to him.

Partly answered

Not addressed: Did not confirm whether it's inherently unfair or commitment to ask DCMS secretary for meeting

How: Under Review

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Context

The MP cited LINK research showing nearly half of people have been somewhere where cash has not been accepted or discouraged, and 49% found it inconvenient.

Question

In December last year, LINK conducted research about the acceptance of cash. It found that nearly half—45%—of people have been somewhere where cash has not been accepted or has been discouraged, and 49% of people said being unable or being discouraged to pay in cash was inconvenient. Will the Prime Minister look again at the Financial Services and Markets Bill, when it comes back from the other place, and ensure that any entity providing a public service directly to the public, involving payments or a charge, must accept cash?

Answer from Rishi Sunak

We know that cash continues to be used by millions of people, particularly those in vulnerable groups. That is why the Financial Services and Markets Bill will, for the first ever time, protect people's access to cash in UK law. The Bill also supports businesses that continue to accept cash by ensuring reasonable access to deposit facilities.

Partly answered

Not addressed: Did not ensure entities must accept cash under FMSB

How: Under Review

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Q17 Meg Hillier Labour (Co-op)
Context

The MP questioned the Prime Minister's decision to appoint someone with a criminal record as a lawmaker.

Question

Does the Prime Minister believe that the reward for being a law breaker should be to be made a lawmaker?

Answer from Rishi Sunak

As we discussed last week, Mr Speaker, there is a well-established process of vetting for all peerages and I, in keeping with the convention followed by Prime Ministers of both parties, have followed the same process.

Partly answered

Not addressed: Did not address whether law breakers deserve to be lawmakers

How: Under Review

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Q18 Danny Kruger Reform East Wiltshire
Context

Wiltshire is a leader in agritech, which aims to increase productivity while preserving the environment. The government's support for gene editing post-Brexit has been highlighted.

Question

Wiltshire leads the world in agritech—the farming processes that increase productivity and will feed the world's growing population, without wrecking the environment. I welcome what the Government have done in this space, particularly in gene editing, which is only possible because of Brexit. Will my right hon. Friend acknowledge the work of Wiltshire farmers and tech entrepreneurs, particularly James Dyson, although there are many more? Does he agree with me that this is one of the key opportunities for our country to become a high-wage, high-skill, high-tech economy?

Answer from Rishi Sunak

When it comes to agritech, we are among the best in the world, with fantastic research bodies, businesses and pioneering farmers and growers. I join my hon. Friend in paying tribute to all of them. They are getting our support through the £270 million farming innovation programme and, as he rightly mentioned, we are seizing the opportunities from our exit from the EU, including through our plans to develop gene-edited crops that are resistant to drought and flooding more quickly.

Answered
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Context

The Prime Minister has faced criticism for leadership and performance, including being outlasted by a lettuce in terms of longevity.

Question

Just to recap, during this Parliament we have had one Tory Prime Minister who turned out to be a proven liar, and a second Tory Prime Minister who was outlasted by a lettuce. After this week's pathetic no-show by the Prime Minister, what one word would he use to describe himself? Might it be “weak”?

Answer from Rishi Sunak

What is weak is those in the party opposite being unable to stand up to the people who fund them and stand behind hard-working families in this country.

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Context

Local authorities face challenges due to increased capacity at hotels housing asylum seekers, which impacts response to homelessness.

Question

I welcome the steps the Prime Minister is taking to stop illegal, dangerous and unnecessary small boat crossings, which are overwhelming our asylum system, but I have to raise significant concerns about a recent decision to stand up a third hotel in Burton, as well as increase capacity at another hotel by 64%. That will have a serious knock-on effect on our response to homelessness and rough sleeping, as well as causing challenges for wider public services in east Staffordshire. What further support can the Prime Minister provide local authorities in east Staffordshire to deal with these urgent concerns?

Answer from Rishi Sunak

That is why we need to stop the boats so that we can relieve the unsustainable pressure on our asylum system and accommodation, which is costing British taxpayers over £3 billion a year. Our new Bill will ensure that anyone arriving illegally will be detained and swiftly removed, but in the meantime we will take action to address the unacceptable cost of housing migrants in hotels.

Partly answered
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Q21 Andrew Slaughter Lab Hammersmith and Chiswick
NHS
Context

The Government have delayed rebuilding plans for several hospitals, impacting health care for hundreds of thousands of people.

Question

Imperial College Healthcare NHS Trust described the Government's recent decision to delay the rebuilding of Charing Cross, Hammersmith and St Mary's Hospitals as hugely damaging for the health and healthcare of hundreds of thousands of people. Will the Prime Minister keep the promise made to me by his predecessor one year ago from that Dispatch Box and guarantee completion of new hospitals on those sites by 2030?

Answer from Rishi Sunak

The Government remain committed to two new hospital schemes for Imperial College Healthcare NHS Trust at Hammersmith Hospital and Charing Cross Hospital, and for St Mary's Hospital as part of the new hospital programme. We have expanded the programme, as the hon. Gentleman knows, to include buildings with reinforced autoclaved aerated concrete and we need to address those as a priority for the safety of staff and patients.

Partly answered
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Q22 David Davis Con Goole and Pocklington
Context

There are concerns about UK universities engaging in research that could support Iran's military capabilities, despite sanctions.

Question

The United Kingdom sanctioned Iran for promoting terrorism, destabilising the middle east, supplying weapons to our enemies and, of course, the proliferation of nuclear weapons. Within the past few weeks, the journalist, David Rose, has reported in the that British universities have been undertaking research in collaboration with Iranian researchers and universities into areas of potential military applications, including drone technology, fighter jets, battlefield armour and laser communication. Will the Prime Minister initiate an investigation into this and take action to stop the failure of our sanctions regime before it does any more harm to the national interest of the United Kingdom and our allies?

Answer from Rishi Sunak

I thank my right hon. Friend for raising this important topic. We take all allegations of breaches of export control seriously. My understanding is that officials in the Department for Business and Trade are currently investigating the allegations made in the recent press article cited.

Partly answered
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Q23 Steve McCabe Lab
NHS
Context

The PM's government faces legal proceedings regarding documents relevant to the Eat Out to Help Out scheme during his time as Chancellor.

Question

Could any of the material that the Prime Minister's Government are trying to avoid giving to the covid inquiry cover his tenure as Chancellor and his eat out to help out policy?

Answer from Rishi Sunak

As I have said previously, it is right that we learn the lessons from covid so that we can be better prepared for the future. That is why the Government have co-operated with the inquiry in a spirit of transparency and candour, handing over more than 55,000 documents so far.

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Q24 Greg Smith Con Mid Buckinghamshire
Context

The UK has not hosted a round of the World Rally Championship since 2019. Promoters need Government underwriting of approximately £1 million for the event to go ahead, expected to bring in over £100 million to the economy.

Question

Despite being world leaders in motorsport, the UK has not hosted a round of the World Rally Championship since 2019. We now have an opportunity to host a round in Northern Ireland next year to bring in in excess of £100 million to the economy, but to make that happen the promoters need Government underwriting of approximately £1 million. Does my right hon. Friend agree that this event simply must go ahead and will he instruct the relevant Departments to work with the motorsport all-party parliamentary group, Motorsport UK and the promoters to make it happen?

Answer from Rishi Sunak

Northern Ireland is a fantastic place to host international events. I am delighted that my hon. Friend shares my enthusiasm for driving forward prosperity in Northern Ireland. However, with tourism being devolved in Northern Ireland, I suggest that he engages with Tourism NI on this potential event, and I look forward to hearing how he gets on.

Not addressed: Financial support from the government

How: Suggests Engagement With A Devolved Body Instead Of Committing To Direct Action

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Context

The UK Government and the Opposition are accused of not facing up to Brexit causing weaker growth and soaring inflation. The LSE says EU trade barriers have added £250 to household food bills, and fishing industry leaders claim they were sold down the river.

Question

The UK Government and His Majesty's Loyal Opposition refuse to face up to the bleak reality that Brexit is causing weaker growth and soaring inflation, according to the former Governor of the Bank of England. The LSE says that EU trade barriers have added, on average, £250 to household food bills, and Scots fishing chiefs are saying that they were sold down the river and scoff at the talk of treaty renegotiation as just spin. With such colossal failures stacking up and the former PM, who played a leading role in the leave campaign, finally exposed as a serial liar, will the current PM apologise to my constituents in Edinburgh North and Leith?

Answer from Rishi Sunak

I just point out to the hon. Lady, as she is going on about the EU and us leaving it, that we have actually grown faster than France and Italy since we left the single market, our exports have grown by 25% just since covid and, as we heard from my right hon. Friend the Member for North Somerset (Dr Fox) earlier, every single international organisation has upgraded its forecast for UK economic growth. That is because we have the right priorities to drive growth, create jobs and spread opportunity in every part of our United Kingdom.

Not addressed: Apology for Brexit failures

How: Highlights Positive Economic Data Without Addressing Negative Impacts

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Q26 Paul Holmes Con Hamble Valley
NHS
Context

Hospices provide quality care to people at the end of their lives. The Mountbatten Hospice in the questioner's constituency cared for his office manager, Sue Hall, who passed away in March. A fundraising skydiving event is planned.

Question

Hospices across the UK provide not only quality, but compassionate care to people at the end of their lives, including Mountbatten hospice in my constituency, which looked after my office manager Sue Hall when she passed away in March. That is why I and her son-in-law, Miles Rogers, will be skydiving to raise money on Saturday. We have raised £6,000 so far. The Prime Minister should feel free to donate to the campaign, but will he send his best wishes to all hospice workers across the United Kingdom?

Answer from Rishi Sunak

I join my hon. Friend in wishing Miles good luck this weekend as he raises money, and in paying tribute to all our incredible hospice volunteers and workers across the country. They do a fantastic job in all our constituencies at a very difficult time in families' lives, and we all owe them an enormous amount of thanks.

Answered

Not addressed: null

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Q27 Tim Farron Lib Dem Westmorland and Lonsdale
NHS
Context

Half of people will get cancer at some point in their lives, and half of those with cancer need radiotherapy treatment. 3.5 million people live in areas without close access to this treatment, including the questioner's constituency where constituents have to travel three hours round trip for treatment.

Question

Half of us, sadly, will get cancer at some point during our lives and half of those with cancer will need radiotherapy treatment, yet 3.5 million people in this country live in radiotherapy deserts where they do not have close access to that treatment. That includes my constituency, where my constituents living in Westmorland have to take three-hour round trips every day to get lifesaving treatment. Will the Prime Minister back our proposal for a satellite radiotherapy unit at Westmorland General Hospital in Kendal, and support all the other Members living in radiotherapy deserts to bring radiotherapy close to their communities, too?

Answer from Rishi Sunak

Like the hon. Gentleman, I know that access to healthcare in rural areas is particularly important, given the distances that our rural constituents have to drive. That is why we remain committed to expanding the range of diagnostic services that are available through our proposal to roll out community diagnostic centres. The record-breaking capital budget that we have in the NHS is delivering that. I look forward to the Department's engaging with him on his plans for his local area.

Partly answered

Not addressed: Support for a specific satellite radiotherapy unit proposal

How: Commitment To Expanding Diagnostic Services Without Addressing Specifics Of The Proposed Unit

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Context

The Bank of England is raising interest rates to curb inflation, but savers are not benefiting from these rate increases.

Question

The Bank of England is raising interest rates to try to stem spending and therefore preventing inflation from being baked into the economy. The same cannot be said for those with savings accounts. Would it not be good for people to be encouraged and incentivised to save more? Will my right hon. Friend and the Chancellor talk to the industry and encourage them or impel them to give a good deal to savers too?

Answer from Rishi Sunak

My hon. Friend raises an excellent point. It is vital that savers are treated fairly and that markets function as competitively as we would expect them to. I am pleased to tell her that my right hon. Friend the Chancellor is meeting the industry and the banks this Friday to discuss the matter she has raised, and will make sure that she and everyone else gets an update after that.

Answered

Not addressed: null

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