Economic Update

Debate between Jeremy Hunt and Ben Spencer

Monday 17th October 2022 Commons Chamber

[Jeremy Hunt]

We have listened to her concerns and we have changed our policies as a result. Also, in fairness, the rise in interest rates is not just because of actions taken by the UK Government in the past few weeks but because of global factors, and we will do everything we can going forward to shield people like the hon. Lady’s constituent from those global factors, but we cannot do everything.

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

I thank my right hon. Friend for his statement today. It is absolutely right that the Government should prioritise economic stability above all else and accordingly make some necessary but difficult decisions given the challenging circumstances. Can he confirm that pursuing a high-growth economy remains central to the vision and will he continue to pursue policies of reducing the tax burden as circumstances and the economy allow?

[Jeremy Hunt]

I am happy to confirm both those points to my hon. Friend.