Ben Bradshaw
Main Page: Ben Bradshaw (Labour - Exeter)Department Debates - View all Ben Bradshaw's debates with the HM Treasury
(1 year, 7 months ago)
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Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
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Chris Philp
I thank my right hon. Friend for his suggestion about Odesa. I know that he is an expert in military matters and matters of international diplomacy, and that he has been to Ukraine in the past 12 months. I will pass his suggestion on to my colleagues.
Mr Ben Bradshaw (Exeter) (Lab)
I do not think that Ministers appreciate the gravity or urgency of the situation. We have a Prime Minister who committed to no spending cuts a few minutes ago, a Government still committed to tens of billions of pounds of unfunded tax cuts and the Bank of England withdrawing its special support on Friday. What are the Government doing to avoid a market crash this Friday?
Chris Philp
The reason that, on the second day of the new Government’s term in office, we brought forward the energy price guarantee was to protect consumers and in effect lower inflation by 5% compared with where it would otherwise be. We legislated at pace yesterday to alleviate the burden of the national insurance increase, which Opposition Members enthusiastically voted for. In terms of markets, as I said, we are in regular contact with the Bank of England and have complete confidence in its ability to manage systemic financial stability.