Economic Update

Baroness Keeley Excerpts

Monday 17th October 2022 Commons Chamber

[Jeremy Hunt]

I am, I think, one of only two Chancellors to have been Health Secretary, so I am very aware of the pressures in the NHS. I am not making any commitments, but when it comes to the NHS the whole country wants to make sure that it can cope not just with winter crises but with the pressures we have had since covid. We will look at that very carefully, but I would also like to see reform in the way NHS funding is spent, because I think we can do better with the large sums that we spend already.

[Barbara Keeley (Worsley and Eccles South) (Lab)]

After the Government’s disastrous mini-Budget, I heard from a constituent, a single person first-time buyer who had been saving to buy a home for seven years and can no longer afford a mortgage. She described that as a kick in the teeth. What does the Chancellor of the Exchequer say to my constituent and all those ordinary people across the country battling price rises, struggling with increased mortgage costs and having their pensions hit by the effects of three weeks of instability caused by the economic incompetence of the current Prime Minister and her Government?

[Jeremy Hunt]

We have listened to her concerns and we have changed our policies as a result. Also, in fairness, the rise in interest rates is not just because of actions taken by the UK Government in the past few weeks but because of global factors, and we will do everything we can going forward to shield people like the hon. Lady’s constituent from those global factors, but we cannot do everything.