Middle East: Economic Update

Luke Charters Excerpts

Monday 9th March 2026 Commons Chamber

[Rachel Reeves]

I said in my statement that despite what we did in last year’s Budget to take £150 off domestic energy bills, there is a unique situation with regard to heating oil. That is why I was pleased to receive representations on that topic over the weekend—the Treasury is working through those proposals—and it is why the Financial Secretary to the Treasury will meet MPs this week. The reason prices are going up, though, is the challenges in getting oil and gas out of the middle east. That is why it is so important to de-escalate, but it is wrong for anyone to profiteer off the back of this crisis.

[Mr Luke Charters (York Outer) (Lab)]

Many of my constituents stranded in the middle east have been left out of pocket because of their travel insurance. In my view as a former regulator, those policies have overly broad exclusion terms. Will my right hon. Friend update the House on her meetings with the insurance sector, the Financial Conduct Authority and consumer groups, and will the City Minister meet me to discuss this issue?

[Rachel Reeves]

I am sure that the relevant Minister—whether that is a Minister in the Department for Transport or the Economic Secretary to the Treasury—will meet my hon. Friend. It is important that everybody who wants to get home from the middle east is able to do so. We welcome the work that airlines are doing with the support of the Government to get people home, but it is also important that people are not ripped off for that.