UK Economy
Debate between Bim Afolami and Liz Saville Roberts(8 months, 3 weeks ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Bim Afolami
I agree that we need to speed up the processing of A1 forms, as the hon. Lady describes. I am sure the Treasury heard that point and I will ensure my ministerial colleagues take what she says very seriously indeed.
Liz Saville Roberts (Dwyfor Meirionnydd) (PC)
Whatever spin the Government may put on it, forecasts show that the economy has officially entered a recession. However, people out there have been suffering grinding economic pressure for years. Average energy bills are 59% higher than they were in 2022, and more than 600,000 Welsh households are in fuel poverty. Meanwhile, the profits of energy companies such as British Gas have increased tenfold to £750 million. This is the Minister’s chance to make a difference to every household. He has referred to the next fiscal event. Will he act to extend and backdate the windfall tax on energy companies that are currently profiteering from households everywhere?
Bim Afolami
The right hon. Lady is right that many people have had very challenging times over the last couple of years. Let me correct something that I previously said to the House: the increase in real household incomes since 2010 is actually 8%, while the increase in GDP per capita is 12%. I wanted to put that on the record. As for taxes, I cannot speculate about what will happen at the next fiscal event.