John Lamont
Main Page: John Lamont (Conservative - Berwickshire, Roxburgh and Selkirk)Department Debates - View all John Lamont's debates with the HM Treasury
(1 day, 7 hours ago)
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Rachel Reeves
My hon. Friend is a powerful advocate for the energy-intensive industries, and for manufacturing more widely. The supercharger is being extended from April this year. That will help 500 of the most energy-intensive businesses, and increase their discount from 60% to 90%—and next year, the BIC scheme comes in. Given what is happening in the middle east, we will continue to look closely at what we can do to help our energy-intensive industries.
John Lamont (Berwickshire, Roxburgh and Selkirk) (Con)
Over 50% of properties in the Scottish Borders are not on the mains gas grid and are completely dependent on heating oil. They are being hammered by the increase to the price of heating oil over the last week or so, and they need to see concrete action from this Government to stop the excessive prices and the profiteering. What are the Government going to do?
Rachel Reeves
I agree with the hon. Gentleman. We are trying to de-escalate the conflict in the middle east, because if we can get vessels moving again through the strait of Hormuz, we will deal with a lot of these problems. I am working closely with both Lloyd’s of London—I met its representatives yesterday—and my G7 colleagues to ensure that those vessels can get moving again. At the same time, I think that everybody has heard the stories in this Chamber and from our constituents about the problems of price gouging. We have to address that, and I have asked the CMA to look at it. Members across the House will have a chance tomorrow to set out their case to the Financial Secretary to the Treasury in more detail, so that we have all the information needed to make the case.