Oral Answers to Questions

Ben Lake Excerpts

Tuesday 14th November 2023 Commons Chamber

[Bim Afolami]

As the hon. Member has already heard from the Chancellor, the economy is still growing. The latest labour market data shows that incomes are going up at a higher rate than inflation, so I do not recognise the picture that he paints.

[Ben Lake (Ceredigion) (PC)]

22. What assessment he has made of the financial position of households during winter 2023-24.

[The Exchequer Secretary to the Treasury (Gareth Davies)]

The Government continue to stand by households with one of Europe’s largest support packages, amounting to some £3,300 a household on average across 2022-23 and 2023-24.

[Ben Lake]

The Minister will be aware that a big concern for rural constituencies is the cost of fuel. The RAC has found that the margin enjoyed by the big supermarkets on fuel sales in October was double the figure for the year to date at 14p per litre. That reflects concerns raised by the Competition and Markets Authority that although wholesale fuel prices fell in September and October, retail prices did not. What is the Treasury’s assessment of the impact that these higher margins will have on households in the coming winter?

[Gareth Davies]

Fuel duty is a major cost for households and businesses. We recognise that. That is why in the spring Budget 2023, the Chancellor extended the 5p temporary duty cut. That was a £5 billion saving for motorists, worth £100 for the average motorist, but we always keep these things under review.