UK-China Economic and Financial Dialogue

Debate between Rachel Reeves and Linsey Farnsworth

Tuesday 14th January 2025 Commons Chamber

[Rachel Reeves]

If the hon. Lady has a brief look at the documents from the Office for Budget Responsibility, she will see that the changes to the energy profits levy—taking the tax rate up from 75% to 78%, the same rate as in Norway—raises money; it does not lose money.

[Linsey Farnsworth (Amber Valley) (Lab)]

I commend the Chancellor for her visit to advocate for our country’s best interests, but does she agree that Chinese companies must not provide any support to Putin’s illegal war in Ukraine?

[Rachel Reeves]

I absolutely agree with my hon. Friend, and I raised such issues with my counterparts in China at the weekend. It is really important that, whenever we engage with foreign Governments, we also raise issues consistent with our values, including Chinese companies supplying the Russian Government with materials used in Russia’s illegal invasion of Ukraine.