Economy Update Debate

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Department: HM Treasury

Economy Update

Taiwo Owatemi Excerpts
Thursday 26th May 2022

(2 years ago)

Commons Chamber
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Rishi Sunak Portrait Rishi Sunak
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The hon. Lady is right that there is of course an eligibility date deadline so that we can process one-off payments, but that is part of the reason why we have staggered the payments in two tranches: to make sure that we catch those who arrive on to the welfare bill between those payments. There will be a stretch period between them to catch as many of those people as possible.

Taiwo Owatemi Portrait Taiwo Owatemi (Coventry North West) (Lab)
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For months now, I have been telling the Chancellor about the financial struggles that many families in my constituency of Coventry North West have been facing. This autumn, families face an energy cap rise of more than £800, which comes on top of record-high inflation. Can the Chancellor honestly tell each and every one of my constituents that today’s announcement is the right decision at the right time? From where I am standing, this feels like a classic example of too little, too late.

Rishi Sunak Portrait Rishi Sunak
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This is the right decision at the right time. We are providing up to £1,200 of support to the most vulnerable third of households in this country. As I have said, that is roughly similar to the average energy bill increase that we are likely to experience over this year.