Philippa Whitford
Main Page: Philippa Whitford (Scottish National Party - Central Ayrshire)Department Debates - View all Philippa Whitford's debates with the HM Treasury
(2 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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.
Dr Philippa Whitford (Central Ayrshire) (SNP)
It is not just the American President; the dogs in the street know that trickle-down economics does not work. This statement pushes money into the pockets of bankers in the City of London and big fossil fuel companies. It will kill high streets. It will take money away from local economies. To make the entire UK economy dependent on one big city while strangling everywhere else is the opposite of levelling up. The Government’s “Growth Plan” document claims, on page 32, that the price cap will
“bring the average household bill down to £2,500”.
That is still £600 more than it is now, and double what it was in January. What will the Chancellor do to help people right now? In particular, will he cut VAT on fuel, as Germany has done?
Kwasi Kwarteng
The investment zones and our ability to incentivise investment will help a whole swathe of communities across the UK. The reversal of the national insurance increase and bringing forward the 1p reduction will also help thousands and thousands, if not millions, of our constituents.