Economic Situation
Debate between Meg Hillier and Chris Philp(2 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
Each Urgent Question requires a Government Minister to give a response on the debate topic.
This information is provided by Parallel Parliament and does not comprise part of the offical record
Chris Philp
My right hon. Friend, who of course has a very distinguished professional track record in financial services, is absolutely right. A range of independent forecasters have confirmed that the energy price guarantee will not only protect our constituents from high prices, but lower inflation by about 5% compared with where it would otherwise have been—a vital intervention. While we are on the subject of inflation, it is worth keeping in mind that inflation in many countries in continental Europe is considerably higher than it is in the United Kingdom. For example, in Germany it is 10.9% and in Holland it is 14%.
Dame Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)
The Minister has made great play of supporting people with their energy bills, but businesses only get support until March. The Government also make great play of creating growth. Many of the businesses in my constituency, particularly hospitality businesses, with a guarantee on their energy bills only until March, are making decisions in the coming weeks about whether they will be able to stay open and continue to be employers. How does that help growth, and will he give them some guarantee from March onwards?
Chris Philp
The hon. Lady raises questions about timeframes. Of course, the Labour proposal was only for six months for consumers and businesses, and I did not hear her criticising that. The consumer offer is for 24 months—for two years. In relation to businesses, she is quite that the business scheme is for six months, but the Government made a commitment back in September that within three months of September—so within two months of now—further plans would be brought forward to explain to businesses, charities and, indeed, the public sector how they will be handled after March next year. My right hon. Friend the Business Secretary will announce that to the House in the coming weeks.
Oral Answers to Questions
Debate between Meg Hillier and Chris Philp(2 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Dame Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)
The Minister talks about vacancies in the job market. There are vacancies, of course, but many of my constituents earn under £12,000 a year. They will not benefit from the tax cut, so they rely on universal credit to make up the gap. They cannot afford to work because of the high cost of childcare. They are already on the poverty line. What is his advice to them? Will he give us some comfort that the Government will make the right decision on uprating benefits?
Chris Philp
I have already explained that the normal statutory process is under way. When it comes to helping people on lower incomes, I mentioned the very significant increase in the minimum wage just a few months ago. We made an unprecedented intervention this year, amounting to £37 billion, which is disproportionately directed towards people on lower incomes. The one third of households on lower incomes are receiving an extra £1,200 this year.
The hon. Lady also referred to the fact that people earning £12,570 or less pay not a penny of national insurance and not a penny of income tax, which is thanks to the action of this Conservative Government.