(12 years, 2 months ago)
Commons ChamberI must say that the hon. Gentleman, to whom I normally listen with attention, is wrong on every point. For example, he did not draw attention to the fact that the warm home discount is delivering £130 directly off the bills of the 2 million lowest income households in our country, including over 1 million of the poorest pensioners, something that I thought he would welcome..
It is this Government who have introduced a code of practice for off-grid suppliers, raised the basic pension and increased cold weather payments in a multiple way. Does my right hon. Friend agree that this reduction will help the vulnerable and elderly, in particular, in my constituency?
The hon. Gentleman is absolutely right. He is also right to put this announcement in the context of all the other things the Government are doing, whether it is the income tax cut that is taking some of our lowest paid out of income tax altogether, delivering a £700 tax cut for people on the basic rate of tax, the council tax freeze or the fuel duty freeze. These things are never admitted by Labour Members, but our constituents are benefiting from them every day in every way.
We certainly are strengthening the competition authorities in this country, as I explained earlier. We are looking at a range of issues that have come to light as a result of the LIBOR scandal, the allegations of gas market manipulation and so on. As I explained to the hon. Member for Edinburgh North and Leith (Mark Lazarowicz), we are working not just nationally, but at a European level and globally to ensure that these commodity markets are fair and not being manipulated. Our record on this stands in stark contrast to the inaction of the last Government.
People in the north-east welcome the three-year fuel duty freeze, but we have concerns that the OFT, despite having had repeated evidence, particularly in rural Northumberland, of a lack of competition, has still failed to act. Does the Secretary of State agree that a way forward would be to summon the OFT to the House so that all MPs can make representations in his presence and get some action from it? No one has any faith in the OFT.
I am sorry to hear that my hon. Friend does not have faith in the independent competition authorities. According to the empirical evidence of how they compare to other competition authorities around the world, they actually score extremely highly. Nevertheless, even though I saw those findings when I was competition Minister, I wanted to strengthen them still further, because there is no room for complacency. I hope he realises that the Government will ensure that the competition authorities have the powers they need.