Cost of Living Increases

Debate between Jamie Stone and Jerome Mayhew

Monday 24th January 2022 Commons Chamber

[Jerome Mayhew]

I am grateful to the hon. Gentleman for that intervention. The Government are on a journey to get the national living wage to two thirds of the median income, and they are making good, above-inflation progress to get there. We have to balance the needs of the recipients of hourly rates against the viability of the businesses that pay them; they need to thrive as well.

The Chief Secretary to the Treasury mentioned a long list of assistance in his opening remarks. Particularly important, from my perspective, are the household support fund, with £500 million going directly towards utilities support; the warm homes discount, which reduces the price of heating by £140 per household, at a cost of £200 million to the taxpayer; and cold weather payments, which provide £25 per week to up to 4 million people in this country. The Government have taken proactive steps to support those most in need while supporting the entire economy of our country, in Scotland and elsewhere.

If the SNP was really worried, it would reduce its income tax, which costs £800 million more to taxpayers in Scotland than the rest of the United Kingdom—I was shocked to hear that it applied to taxpayers earning just over £27,000 a year and above—support continued access to North sea oil and gas reserves, and regret Nicola Sturgeon’s assertion that she would not give the go-ahead to the Cambo oil field. We need security of supply and we need to support domestic extraction during the period of transition between now and 2035. That supports our domestic prices and helps us in our transition to net zero. The Committee on Climate Change itself recognises that we need oil and gas resources between now and 2035

[Jamie Stone]

I rise to my feet as somebody who worked in the oil sector, but that is not what I want to address. The furlough scheme meant that the money paid out in my constituency was reinjected back into the local economy and the UK economy. It was not salted away in Zurich. In terms of supporting families through these hard times, the money does not go into a black hole. It is recycled. It can be clawed back by corporation tax on companies and so on. Perhaps it would be a good thing if all of us, including Her Majesty’s Government, looked at that as we tackle the problem of fuel poverty that lies before us.

[Jerome Mayhew]

I am grateful to the hon. Gentleman for his intervention. Treasury Ministers are attending this debate and I am sure they were listening very carefully to what he said.

In conclusion, there is a difference between grandstanding on these issues, which the SNP appears to be doing—there seems to be a certain amount of virtue signalling here—and what the Conservatives have been up to in government, taking practical steps to improve the lives of people right across the United Kingdom.