Oral Answers to Questions

Debate between Graham Stringer and Rachel Reeves

Tuesday 20th May 2025 Commons Chamber

[Graham Stringer (Blackley and Middleton South) (Lab)]

T8. The European emissions trading scheme has a carbon price that is 50% higher than the UK’s. What assessment has the Chancellor made of the impact of joining the scheme on inflation in this country?

[Rachel Reeves]

As my hon. Friend knows, sometimes the UK carbon price has been higher, but sometimes it has been lower than in the EU. This deal will ensure a bigger market that, on average, brings prices down. We are confident that the deal secured yesterday will bring more good jobs and bring down bills for consumers.