Economy Update

Debate between Lloyd Russell-Moyle and Rishi Sunak

Thursday 26th May 2022 Commons Chamber

[Rishi Sunak]

My hon. Friend is absolutely right and I know that he is a champion for pensioners in his constituency. I hope that he will be pleased by today’s news that they will receive an extra £300 this winter to help get them through. His point about the long run is right. My belief is that if we can get businesses to invest more, train more and innovate more, spurred on by tax reductions and reforms this autumn, we will be able to drive up our growth and productivity.

[Lloyd Russell-Moyle (Brighton, Kemptown) (Lab/Co-op)]

I welcome the fact that the Chancellor has accepted many of Labour’s calls, but my constituent who is on £1,300 take-home pay and pays a rent of £800, council tax of £100, debt repayments of £100 a month, travel costs of £100 a month and fuel costs of £200 a month is left with nothing to eat with. He is ineligible for universal credit and because he lives in a block of rented flats where the landlord redistributes the fuel, he will also be ineligible for the fuel rebate. Will the Chancellor confirm to councils that their discretionary money must prioritise people who live in park homes or who receive their fuel from their landlords, so that they can get support as well, because they are currently excluded?

[Rishi Sunak]

I am very happy to take away that suggestion when we design the guidance for the discretionary fund.

Oral Answers to Questions

Debate between Lloyd Russell-Moyle and Rishi Sunak

Tuesday 1st February 2022 Commons Chamber

[Rishi Sunak]

My hon. Friend is absolutely right to highlight pensioners and their needs. As I said, I am proud of the Government’s track record in supporting them. I can also provide him with the reassurance that we continue to look at the best way to provide support to all those in need, as we have done over the last year of two. In the meantime, he will be reassured to know that we have protected pensioners this coming year with the double lock and, as I said, the winter fuel payments providing up to £300.

[Lloyd Russell-Moyle]

Energy prices are rocketing but the price of producing energy has not, meaning that energy companies are experiencing record bonanza profits this year if they are producers. The Chancellor is, of course, worth more than a billion pounds. Could he tell constituents struggling to pay their energy bills what should be taking the cut? Should it be the profits of the energy companies or the lifting of the energy cap that he proposes, costing constituents £1,800 on average a year?

[Rishi Sunak]

The energy price cap has already protected millions of people against rising energy bills. On the taxation of companies, it is probably worth bearing in mind that one thing that the last few months have shown is that there is an opportunity to invest more in providing natural gas as a transition fuel as we make our way to net zero in a measured manner. To that end, we should be encouraging investment in exporting our natural resources, not disincentivising it.