Mike Kane
Main Page: Mike Kane (Labour - Wythenshawe and Sale East)Department Debates - View all Mike Kane's debates with the HM Treasury
(1 year, 9 months ago)
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Kwasi Kwarteng
The growth plan is about growing the economy, and we are not going to grow the economy by increasing taxes indefinitely.
Mike Kane (Wythenshawe and Sale East) (Lab)
The Chancellor mentioned that his energy package would cost £60 billion for just six months, but the Prime Minister promised that the package would go on until 2024—a £240 billion borrowing requirement to fix the broken energy market today, saddled on future generations. Does the Chancellor think that is a price well worth paying?
Kwasi Kwarteng
I think the hon. Gentleman has got the mathematics slightly wrong. The business support is for six months, and the household support is for two years. Those are two things that need to be disaggregated. On long-term pricing, of course, nobody in this room—indeed, nobody in the world—has any idea what the price will be in two years, so it would be misleading to put a price on that.