Electricity Bills: VAT Removal

Debate between Lord Brooke of Alverthorpe and Lord Wilson of Sedgefield

Thursday 23rd July 2026 Lords Chamber

[Lord Wilson of Sedgefield (Lab)]

I echo the noble Baroness’s comments about my noble friend Lord Pitt-Watson, who will be the new Minister, taking over imminently—after this Question, I hope. The Government are well aware of the international situation we have in the Middle East and Ukraine; we know about the issues that we face. I do not believe the announcements being made are unfunded; we are finding the money to face up to the problems that ordinary people around the country are facing. I repeat the facts again: £9.4 billion of unfunded pay awards and £2.6 billion of new unfunded policy announcements by the last Government. What we are doing pales into insignificance compared to the debt they left the country in.

[Lord Brooke of Alverthorpe (Lab)]

My Lords, is it not a fact that we may raise any funds we need by having further work done on VAT? Does the Minister welcome the review announced on 23 June to extend online marketplace VAT liability examinations? Perhaps we might also explore the growing amount of money being made by social media companies that are moving away from social media into auctioning and businesses such as that, where there is potential for tax to be raised. Perhaps we might have a debate in this House where we can invite all to participate, come up with ideas and examine those areas that need examining, so that we have some fairness in the tax system.

[Lord Wilson of Sedgefield (Lab)]

I thank my noble friend for that question. The future of VAT is a pressing issue, as is what we intend to do with those online entities that may be exempt from it. This is continuously under review, but I think we will need to wait for the Budget to see what changes we will have.

Public/Private Partnerships: Shares

Debate between Lord Brooke of Alverthorpe and Lord Wilson of Sedgefield

Monday 3rd November 2025 Lords Chamber

[Lord Brooke of Alverthorpe]

To ask His Majesty’s Government what steps they are taking in consulting on, revising and updating public/private partnerships with shares open to the public.

[Lord in Waiting/Government Whip (Lord Wilson of Sedgefield) (Lab)]

My Lords, the 10-year infrastructure strategy set out our approach to private finance and infrastructure through a variety of available models and approaches. Public/private partnership models are one mechanism available to bring in private finance to infrastructure projects. The strategy set out the circumstances in which the Government will consider PPEs. The Government will always consider carefully which model is most appropriate for a project on a case-by-case basis to ensure value for money.

[Lord Brooke of Alverthorpe (Lab)]

My Lords, since I tabled this Question, my noble friend Lord Livermore has been appointed Labour’s national campaign co-ordinator for next year’s elections. I am sure that everyone would wish to congratulate him on that, even in his absence. He is now, of course, in a unique position: not only is he campaigning but he is within the Treasury. If he can spend a little time on looking more at the public/private partnership models, and if we could revise, update and extend them to include individual citizens’ contributions and people’s investments in them, rather than it simply being large capital investment, I think that he would find that they would attract greater interest. As he comes to campaigning, he could advance in Scotland a major PPP project, one in Wales, and one for every county and shire around the country as part of this programme.

[Lord Wilson of Sedgefield (Lab)]

I thank my noble friend for his question and I will pass on his good wishes to my Treasury colleague, whose full attention is on organising for next year’s elections but also on his duties in the Treasury. As I said, the Government will always consider carefully which model is most appropriate for a project on a case-by-case basis to ensure value for money. Matching the right private finance models to projects ensures that the project benefits from efficiencies. Investment trusts already open the door to retail investment in private assets such as infrastructure, but we are going further. By moving the long-term asset funds into the stocks and shares ISA from April next year, the Government will give more people access to long-term investment opportunities and the higher returns they can bring.