Commons Sense

House of Commons · Ministers' Questions

Household Finances

Tuesday 14 November 2023 · 2 questions

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

Read the full transcript on Parliament.uk

At a glance

Answered 0 Partly answered 2 Not answered 0

Key points

  • The Government has assessed the financial position of households for winter 2023-24 and stands by them with a support package of 3,300 per household on average.
  • Fuel duty was temporarily cut by 5p per litre, saving motorists around 100 each, as announced in the spring Budget 2023.
  • The RAC found that supermarkets enjoyed a margin of 14p per litre on fuel sales in October, up from the year-to-date average.

Topics (select to filter)

Questions & Answers

Q1 Ben Lake PC Ceredigion Preseli
Economy
Context

The financial stability of UK households is under scrutiny, with concerns about the impact of various economic factors on household finances in the winter months.

Question

What assessment has been made of the financial position of households during winter 2023-24?

Answer from Gareth Davies

The Government continue to stand by households with one of Europe's largest support packages, amounting to some £3,300 a household on average across 18 months.

Partly answered

Not addressed: Did not specify the specific assessment or data for winter 2023-24

How: Vague Reference To Support Packages Without Specifics

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Q2 Ben Lake PC Ceredigion Preseli
Economy Energy Environment
Context

Concerns have been raised about the rising cost of fuel in rural areas, with supermarkets reportedly enjoying higher margins during October. This has prompted worries that households may be disproportionately affected.

Question

The Minister will be aware that a big concern for rural constituencies is the cost of fuel. The RAC found that the margin enjoyed by the big supermarkets on fuel sales in October was double the figure for the year to date at 14p per litre. That reflects concerns raised by the Competition and Markets Authority that although wholesale fuel prices fell in September and October, retail prices did not. What is the Treasury's assessment of the impact that these higher margins will have on households in the coming winter?

Answer from Gareth Davies

Fuel duty is a major cost for households and businesses. We recognise that. That is why in the spring Budget 2023, the Chancellor extended the 5p temporary duty cut. That was a £5 billion saving for motorists, worth £100 for the average motorist, but we always keep these things under review.

Partly answered

Not addressed: Did not address the specific impact of higher fuel margins on rural households in winter

How: Acknowledged Duty Reduction Without Addressing Margin Concerns

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