Lindsay Hoyle
Main Page: Lindsay Hoyle (Speaker - Chorley)Department Debates - View all Lindsay Hoyle's debates with the HM Treasury
(2 years, 1 month ago)
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James Cartlidge
I am grateful to my hon. Friend for his fine words and welcome. We will consider that report with interest, and I was glad to hear about the event that he hosted with the hon. Member for Cambridge (Daniel Zeichner). I pay tribute to my hon. Friend as a long-standing champion not just of the East West Rail connection, but of the wider growth opportunity that links in with that. This is such an important area not only for international competitiveness, but for the UK economy. As he knows, the first section of East West Rail is already in construction and we will set out the next steps on the later stages shortly. I reassure him that we recognise the significant economic growth that the project could unlock by increasing connectivity and supporting the region’s high productivity sectors.
Jeremy Hunt
I can reassure the hon. Gentleman that I have had extensive discussions with our excellent new Work and Pensions Secretary about how we support people on low incomes—precisely the vulnerable people that he is talking about. He will have to wait until Thursday for the details of our plan, but we have said that, in a very difficult time, protecting the most vulnerable will be our top priority.
James Murray (Ealing North) (Lab/Co-op)
Two years ago, in a video entitled “Rishi Explains: Green Home Grants”, the current Prime Minister enthusiastically took credit for the green homes grant scheme. Six months later, the scheme collapsed and £1 billion was cut from its budget. The truth is that we have the draughtiest homes in Europe, but when it comes to insulating homes, the Government are nowhere to be seen. If the Government had followed our plan last year, 2 million of the coldest homes could already have been upgraded, saving households more than £2 billion on energy bills this year alone. Home insulation should be a no-brainer. Will the Chancellor explain why the Government will not follow Labour’s plans and get on with it?
Jeremy Hunt
There are all sorts of bigger reasons why we do not want to follow Labour’s plans, not least because they would bankrupt the economy. On the scheme to help people to insulate their homes, the picture that the hon. Gentleman presents is not correct. We are spending billions of pounds to help hundreds of thousands of families up and down the country to insulate their homes. We completely recognise that that is a vital part of our long-term energy policy.
Alison Thewliss (Glasgow Central) (SNP)
I welcome this latest Chancellor to his place. Many of our constituents, such as my constituent Angela, have seen their bills double. Angela’s gas bill has gone up from £130 to £260 a month. She lives in a tiny, two-bedroom flat on carer’s allowance and personal independence payment, with a son who has a disability, and she simply cannot afford these bills. Cornwall Insight has estimated that come March, when the energy support ends, the price cap will rise to £3,700. There has been talk of targeting support after that, but National Energy Action has pointed out the risk that many people who are already suffering in fuel poverty will be excluded. What reassurance can he give people out there whose bills are already unaffordable about what will happen in March?
Andrew Griffith
I will ensure that the case the hon. Lady raises is responded to.
Ben Bradley (Mansfield) (Con)
Andrew Griffith
The Government are very conscious and very supportive of people’s desire to own their own home, which is why we have made so many interventions on affordability. Underlying that is the strength of the economy, which offers great employment prospects for those who seek to work hard, to save and, ultimately, to purchase their own home. We are on their side.
Mr Pat McFadden (Wolverhampton South East) (Lab)
The consequences of September’s disastrous mini-Budget continue to be felt, as we will see in the autumn statement on Thursday—the third Budget statement in two months from the fourth Chancellor since the summer, presided over by the fifth Prime Minister in six years. Whatever they represent, it is certainly not stability.
Mortgage rates are still well above what they were before the mini-Budget. I have a constituent who is a first-time buyer, and he is facing a £200-a-month increase on his mortgage quote compared with before the mini-Budget. Why should my constituent, and thousands like him, pay the price in their mortgage payments for the economic damage caused by the Government’s recklessness?
Jeremy Hunt
I hear what the hon. Gentleman says. It is going to be a very difficult announcement on Thursday, because we are going to be asking everyone to contribute more. But we will be asking people who have more to contribute even more, and that will be reflected in our decisions on council tax and every other tax as well.
Dr Julian Lewis (New Forest East) (Con)
I was encouraged by the Economic Secretary’s answer to the question from my right hon. Friend the Member for Ludlow (Philip Dunne) about mortgages. I know that the Chancellor believes that the restoration of economic stability is essential for mortgages to come under control in the future, but will he confirm that he will bring in imaginative plans to protect people who took out mortgages in good faith and now find them unaffordable?
James Cartlidge
I cannot think of a colleague who champions energy investment in their constituency quite as much as my hon. Friend. I can confirm that the port of Holyhead is a very important part of the wider transport and economic infrastructure of the UK. I know that the Minister for Aviation, Maritime and Security has written to her and specified quite clearly whose responsibility that is, and she is absolutely correct.
Abena Oppong-Asare (Erith and Thamesmead) (Lab)
The Government allow offshore wind but are still banning onshore wind. Ending the ban would give us a vital tool to reach net zero, make Britain a clean energy superpower, and open up new investment and growth opportunities. Keeping the onshore wind ban will make energy bills £16 billion higher between now and 2030. Why on earth are Ministers undermining green growth and cheaper energy by maintaining the self-defeating ban on onshore wind?
The Chancellor of the Exchequer (Jeremy Hunt)
I will be speaking for rather a long time on Thursday—
Jeremy Hunt
May I start again and say that, subject to your agreement, Mr Speaker, I may be talking for rather a long time on Thursday, so I will be brief today? I will just say that, despite the difficulty of the package I will be announcing, I will sadly not be drinking any whisky as I do so.
Rushanara Ali
I thank the Chancellor for the work he is doing and congratulate him on his new post. We hope that he lasts the week, or maybe the fortnight. The Government scandalously allowed organised criminals and fraudsters to take billions of pounds of public money through covid loan fraud as a result of the lack of proper checks. Estimates suggest that that has cost taxpayers £33 billion. Why should hardworking people pay for the Prime Minister’s fraud failures when he was Chancellor, and for the mini-Budget fiasco of the former Prime Minister, the right hon. Member for South West Norfolk (Elizabeth Truss), who crashed the—
Mr Speaker
Order. These are topical questions and are meant to be brief.
Jeremy Hunt
Of course, there are lessons to be learned about the way those schemes were administered, but I am very proud that unemployment remains at a 50-year low because of the decisions that the Prime Minister took on the furlough scheme and Government-backed loans. That was the right thing to do.
Jeremy Hunt
That is what Conservatives are all about so I am happy to give him that assurance. It is not just words; it is action: the halving of business rates for most retail, hospitality and leisure businesses; the freezing of the multiplier on business rates; the furlough scheme; the Government-backed loans and the energy price support that we are giving businesses. All that is because this Government back business.
Rachel Reeves (Leeds West) (Lab)
Today’s numbers show that real wages are down £1,000 a year. The Chancellor himself has admitted that the NHS is on the brink of collapse, and he is preparing for more stealth taxes on working people later this week. Getting our economy firing on all cylinders is essential for fixing this mess, so will the Chancellor tell the House where the UK is projected to finish in OECD growth rates over the next year?
The Exchequer Secretary to the Treasury (James Cartlidge)
Further to my previous answer, the Government are serious about delivering cheaper, cleaner and more secure power. That is why we included onshore wind and solar in the latest contracts for difference auction round, and we will include them in future rounds. The Government recognise the range of community views on onshore wind and the need the prioritise our most productive farmland for food production. It is important that the Government strike the right balance between community interests, food security and securing a clean, green energy system for the future. That is why the planning system is designed to take account of those issues.
Alison Thewliss (Glasgow Central) (SNP)
Thank you, Mr Speaker. Austerity is a damaging Tory political choice, which is responsible for 330,000 excess deaths. A responsible and compassionate Government would explore all options to avoid it. Will the Chancellor consider taxing share buy-backs, as the US and Canada have done? The Institute for Public Policy Research and Common Wealth have pointed out that oil and gas, financial services and other companies have funnelled their mega-profits into share buy-backs. Does the Chancellor agree that that is inexcusable when he wants to hike taxes on working people and slash public services?