Oral Answers to Questions Debate
Full Debate: Read Full DebateLindsay Hoyle
Main Page: Lindsay Hoyle (Speaker - Chorley)Department Debates - View all Lindsay Hoyle's debates with the Department for Business, Energy and Industrial Strategy
(2 years, 4 months ago)
Commons ChamberAs I said, the Chancellor announced a £9.1 billion package of support only a few weeks ago. That included the £150 council tax rebate for bands A to D and £144 million in discretionary funding added for local authorities—spending to help the most vulnerable. We announced a £500 million extension of the household support fund last week, but I would be happy to engage with my hon. Friend on what more we can do in the next few months to assuage the burden.
Well, we know what measures the Government have in place to assist customers to manage the sky-high energy price increases now due in April, and frankly pretty miserable they are. They will not remotely cover the bulk of the increases, and we still do not know how some of them are to be delivered—the “lend you your own money” scheme, for example, as it relates to the 7 million customers on prepaid meters.
I am concerned about how the Government will respond to what we now know will be an equally steep additional price rise in October under the price cap, with authoritative sources calculating that we are likely to see the average energy bill rise by a further £700 to £2,900 or £3,000. What serious additional measures is the Secretary of State planning to help customers to face that further enormous rise? Might he after all be interested in a windfall tax against those companies that continue to profit enormously from escalating gas prices, which could fund substantial assistance to cope with the next price hike?
I am very happy to answer the hon. Gentleman’s questions. He will know that the next price cap period will be set in August. Even he, with his gifts of prophecy, does not know what the price cap level will be in August. As the Chancellor of the Exchequer has said, we are continually reviewing actual spot markets and what is happening in the market.
The hon. Gentleman will know that nothing could be more damaging to the sector, to people employed in the sector and to the hundreds of thousands of jobs and families dependent on the sector than an arbitrary windfall tax, which would also impoverish many of the people exposed to those companies through their pensions. It is a regressive, retro measure that completely does not understand what business is all about.
Aside from saying that he drives an ageing VW Golf, the Secretary of State is using every excuse possible to try to defend the indefensible. In just a matter of days, the energy price cap will increase by some 700 quid; in just a matter of months, it is anticipated that it will increase by a further £1,000. The Government’s response is 150 quid off council tax and £200 that they say is not a loan, but that is indeed a loan. Energy bills are anticipated to increase 14 times faster than wage increases. How on earth are people supposed to get by?
Evidence of the scale and severity of the human rights situation in Xinjiang paints a harrowing picture. The British Government will not stand for forced labour, wherever it takes place. We require businesses to report on how they are tackling modern slavery and forced labour in their operations and supply chains, and we plan to extend that to certain public bodies and to introduce financial penalties for organisations which do not comply. That will require legislative change, and legislation will be introduced when parliamentary time allows.
That was a pretty strong-sounding answer from the Minister, but let us see whether those fine words are put into practice. An audit undertaken two years ago found that 17% of organisations—more than 2,500—that should have published a modern slavery statement had failed to do so. Can the Minister tell us what action has been taken since then to ensure that they do?
My hon. Friend highlights an important point about getting the balance right between regulation, and ensuring that the output and productivity of these industries works. I would be happy to talk to him more if that is helpful.
The spring statement did not
“address the complex challenges facing the manufacturing sector”.
It just is not
“tenable for thousands of businesses”
and it is
“kicking the can down the road”.
Those are the words of three businesses that are asking for help. So how about this: first, cancel the 10% increase in national insurance payroll tax; secondly, cut energy bills by up to £600 per household; and, thirdly, set up a £600 million energy-intensive industries contingency fund? Our plan is following the evidence from the business community of what is needed. Why will this Government not help businesses that are crying out for support?
Order. That finishes questions, but before we come to the statement, I would like to point out that the British Sign Language interpretation of proceedings is available to watch on parliamentlive.tv.