Cost of Living Increases

Ben Spencer Excerpts

Tuesday 25th April 2023 Commons Chamber

[Dr Ben Spencer (Runnymede and Weybridge) (Con)]

Yet again, in the face of the serious challenges that we and many other nations face, Labour chooses to play politics. The pressure on households is real, but does the Labour party really believe that economic issues are defined by national borders? For example, UK food inflation in March was 19.1%. The EU average at the time was slightly higher, at 19.2%. Several EU countries face much higher inflation, including food price inflation of up to 44.8%. The International Monetary Fund shows that the UK inflation rate is the same as Sweden’s, and only slightly higher than Germany’s.

Do the Opposition really believe that this is solely a national issue? They seem to forget that we have had a pandemic, war in Europe and a resulting energy crisis. Our Conservative Government did not cause any of those, but they did respond, not by playing politics or by pointing fingers, but by delivering for people and protecting households. When people needed help, we provided covid support to households and businesses, the largest increase in benefits and the state pension for 32 years, direct support with energy bills for every household, and direct cash payments of at least £900 to the most vulnerable households. We lowered the universal credit taper rate, increased the minimum wage and froze fuel duty, and we are now investing in more affordable childcare so that parents can return to work knowing that their children are getting a great start in life, too. But unlike Labour, we do not simply spend with no plan for tomorrow: we work to rebalance our economy after each shock. That is why we have a plan to halve inflation, grow the economy and reduce debt. We are supporting research and development and promoting the UK as the future for life science and STEM industries. We are leading on green energy and carbon capture, and delivering new jobs and investment through freeports and investment zones.

Not only are we helping nationally, but well-run local authorities such as Runnymede Borough Council are delivering excellent services and administering direct financial support while maintaining low council tax. I am pleased by the timing of this debate, as it highlights what is at stake in the upcoming elections. If people want good governance and support locally, tackling the challenge of inflation, they need to vote Conservative on 4 May. The Conservatives have a clear economic plan; Labour only has a soundbite.