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3,765 recent contributions in Hansard
HANSARDEconomy UpdateThe warm home discount is an existing scheme that covers only 3 million households. It is also funded by other billpayers. What we are doing today is setting out Exchequer-funded…26 May 2022HANSARDEconomy UpdateWhile I broadly agree with my right hon. Friend that that is the best way to help people over time, in a particular circumstance such as this, and given the types of people we are…26 May 2022HANSARDEconomy UpdateMy hon. Friend is absolutely right and I know that he is a champion for pensioners in his constituency. I hope that he will be pleased by today’s news that they will receive an…26 May 2022HANSARDEconomy UpdateAs I said, when it comes to all the direct payments through the welfare system, we will take legislative powers to deliver them directly in Northern Ireland, where we believe we…26 May 2022HANSARDEconomy UpdateMy hon. Friend the Economic Secretary to the Treasury is in regular dialogue with the Financial Conduct Authority to ensure that the industry is properly regulated. Last year, we…26 May 2022HANSARDEconomy UpdateMy hon. Friend speaks with experience on this matter, given his previous roles. I will give a couple of examples. One we have touched on, which is energy supply and making sure…26 May 2022HANSARDEconomy UpdateWith regard to businesses, we have the energy-intensive industries support scheme, which the Business Secretary is consulting on extending and improving the generosity of, to help…26 May 2022HANSARDEconomy UpdateThe Energy Secretary is engaged in a conversation with the industry, the Competition and Markets Authority and others about ensuring that our energy market works fairly for…26 May 2022HANSARDEconomy UpdateMy hon. Friend makes an excellent point. We have published a distributional analysis today, which I point him to, which shows that the package that we have announced is extremely…26 May 2022HANSARDEconomy UpdateAs ever, we keep all situations under review with regard to providing support to households. We know, however, that the most vulnerable are likely, subject to the review of the…26 May 2022HANSARDEconomy UpdateWell, we did act, and that is why there is already £21 billion of support to help people with the cost of living this year. We are adding £15 billion to that today, after having…26 May 2022HANSARDEconomy UpdateI think that the official Labour party view is that the windfall tax would raise £2 billion. The way we have structured ours means it will in fact raise £5 billion, which is a…26 May 2022HANSARDEconomy UpdateI know that my right hon. Friend the Secretary of State for Work and Pensions is constantly ensuring that those entitled to those benefits do get them, and I am sure she will keep…26 May 2022HANSARDEconomy UpdateI am happy to give my hon. Friend that assurance and to work with him and the industry, because we want to create a pro-investment environment. On energy efficiency, we are…26 May 2022HANSARDEconomy UpdateMy hon. Friend is rightly passionate about that subject, which he knows a lot about. Both the Education Secretary and the Exchequer Secretary are working hard to combat the low…26 May 2022HANSARDEconomy UpdateWe will put a backstop sunset clause in the legislation with the energy profits levy. It will remain in place until prices return to a more normal level. In the past, that was…26 May 2022HANSARDEconomy UpdateI agree wholeheartedly with my right hon. Friend. He makes excellent points, and he can expect me and this Government to deliver on all the things he thinks are important.26 May 2022HANSARDEconomy UpdateSome 70% of people in work—including, I would imagine, the hon. Gentleman’s constituents—will pay less tax this year than last year as a result of the increase in the national…26 May 2022HANSARDEconomy UpdateJapan, as my right hon. Friend will appreciate, is a very particular case, but even Japan is experiencing its highest relative inflation rate in many years. For Switzerland, there…26 May 2022HANSARDEconomy UpdateI thank my right hon. Friend for his question. With regard to the figures on borrowing and stimulus, we are still running a relatively significant budget deficit this…26 May 2022