Middle East: Economic Response

Adam Thompson Excerpts

Thursday 21st May 2026 Commons Chamber

[Rachel Reeves]

The right hon. Gentleman makes a really important point. Today I have set out a number of measures that will directly help the supermarkets to reduce their costs, and it is really important that those cost reductions are passed on directly to consumers. Reducing the cost of running an HGV will have a direct impact on our supermarkets, and reducing tariffs will have a direct impact on costs for our supermarkets. The trade deal that we are looking to do with the EU to reduce the costs of importing exporting food from the EU will also have a direct impact on costs for supermarkets. I say to the supermarkets: those cost reductions must be passed on directly to consumers, who are struggling with the cost of living, given the conflict in the middle east.

[Adam Thompson (Erewash) (Lab)]

I thank the Chancellor for her statement, and particularly her VAT cut on theme park tickets. I invite her and all hon. Members to join me on my annual trip to Alton Towers this summer. Erewash has many great summer events for families to enjoy, such as Long Eaton carnival, the classic car show and the Glow festival in Ilkeston, but entertaining kids during the summer months can be daunting and expensive for parents. Can the Chancellor please elaborate on how the measures that she is announcing today will support Erewash families and boost great community events?

[Rachel Reeves]

My only worry with this package is that it will mean children badgering their parents even more for days out over the summer—I slightly worry about what I have unleashed in my own household. I am pleased to announce today that trips to Alton Towers and other activities, whether it be soft play, funfairs, zoos or museums—if many kids want to go to them; not mine probably, sadly—will be cheaper this summer because of the action that this Government are taking.