Economy Update

Debate between Rishi Sunak and Mike Wood

Thursday 26th May 2022 Commons Chamber

[Rishi Sunak]

As ever, we keep all situations under review with regard to providing support to households. We know, however, that the most vulnerable are likely, subject to the review of the Secretary of State for Work and Pensions, to see a significant increase in welfare and pension payments next year, based on September’s CPI, which will be significantly in excess of the inflation forecast for that year.

[Mike Wood (Dudley South) (Con)]

The Chancellor’s £15 billion package will make a massive difference to a lot of people in Dudley South, but can he tell me what distributional analysis he has done on that package? How does that compare with the impact of abolishing VAT on domestic energy?

[Rishi Sunak]

My hon. Friend makes an excellent point. We have published a distributional analysis today, which I point him to, which shows that the package that we have announced is extremely progressive in nature, with those on the lowest incomes benefiting most. Some three quarters of what we have announced will go to the most vulnerable households, including pensioners. A flat rate payment has the benefit of being more progressive than VAT, which obviously gives very high, or higher, tax discounts to those who are particularly wealthy or have large houses and energy bills.

Financial Statement

Debate between Rishi Sunak and Mike Wood

Wednesday 23rd March 2022 Commons Chamber

[Rishi Sunak]

As the hon. Gentleman knows well, given that we are constituency neighbours, I also represent plenty of farmers and I listen to their concerns. The Agriculture Secretary is doing an excellent job of transitioning from the old system to the new. The overall funding for farming has been protected by this Government and the same level of funding is available, as we promised it would be. I want to see more British food grown here and to see us supporting British food—of course I do, and I think the British public will as well.

[Mike Wood (Dudley South) (Con)]

The shadow Chancellor quoted Money Saving Expert Martin Lewis’s comments from before the spring statement, but since the statement he has written:

“That £3,000 rise of threshold to £12,570 is a gain of £330 a year and more than offsets the…rise for many on lower incomes. Good call.”

Just what proportion of workers will now be getting more money from the higher threshold than they pay in the health and social care levy?

[Rishi Sunak]

I am grateful to my hon. Friend for sharing that helpful tweet with the House, but I would say to him that the number he is looking for is 70%—70% of workers will pay less because of the increase in thresholds, even taking into account the new levy. That is why this Government are on the side of hard-working British taxpayers.

Economic Update

Debate between Rishi Sunak and Mike Wood

Thursday 3rd February 2022 Commons Chamber

[Rishi Sunak]

As my right hon. Friend the Member for Harlow (Robert Halfon) said earlier, £350 is a significant amount of money for families up and down the country, and I think it will make a real difference and lessen their anxiety. What I was talking about was the council tax rebate, which will be fully Exchequer funded with no cash due back.

[Mike Wood (Dudley South) (Con)]

I thank my right hon. Friend the Chancellor for meeting me and colleagues and responding so positively on this issue. He may remember that I asked him to ensure that any support extended to cover those just above benefit thresholds because they are often most in need of help. How does the support that he has announced today for those constituents compare with the suggestions made by Labour?

[Rishi Sunak]

My hon. Friend, as ever, makes a thoughtful contribution, and I enjoyed our conversations. He was right to champion those who are on middle incomes. As a result of those conversations with him and others, we have designed a package that does exactly as I think he would like to have seen. By targeting support at those in council tax bands A to D, four out of five households—those up to middle income, those just about managing—will receive £150 extra support, and they will get that support in April.

Spending Review 2020 and OBR Forecast

Debate between Rishi Sunak and Mike Wood

Wednesday 25th November 2020 Commons Chamber

[Rishi Sunak]

For the record, no one is trying to pit anyone against anyone else. This is simply about doing what is fair for the country. It is the right decision to make. It is a difficult decision, but we have taken a targeted approach to protect those on lower incomes and those in the NHS, ensuring that a majority of public servants will receive an increase in their pay next year. I would be happy to go away and look at the gender pay gap in the civil service and ensure that we are making good progress on eliminating it.

[Mike Wood (Dudley South) (Con) [V]]

We all want to see people’s wages go up again after the pandemic, and my right hon. Friend’s statement provides a strong foundation for securing that. At a time when many workers in the private sector face cuts or job losses, I can understand why it is necessary to pause public sector pay rises, other than those for frontline NHS workers and those earning less than the national average. Will he join me in urging the Independent Parliamentary Standards Authority to ensure that that freeze also extends to the salaries of Members of Parliament?

[Rishi Sunak]

My hon. Friend makes an excellent point, and the way he framed it was spot on. He will be reassured to know that the Chancellor of the Duchy of Lancaster has written to IPSA on behalf of the Government, the Prime Minister and I to express our views on the situation, to inform it about the pay policy that we have put in place in the public sector and to urge it to take account of that when it sets pay policy. Of course, it is an independent body, but I hope very much that it will look at what we are doing.

Covid-19: Economic Package

Debate between Rishi Sunak and Mike Wood

Tuesday 12th May 2020 Commons Chamber

[Rishi Sunak]

Those who were in seasonal work can use an average of their earnings over a period for furlough payments, or indeed the same month on a year-over-year basis if that is a more generous way to calculate their eligibility. That is the most generous way to treat those in seasonal employment under the scheme and ensure that we reflect their earnings appropriately.

[Mike Wood (Dudley South) (Con) [V]]

These measures are exactly what manufacturing firms in Dudley South have called for as they start to reopen. Will the Chancellor undertake to work with our excellent Mayor, Andy Street, to ensure that the needs of west midlands manufacturing and its employees are fully considered as they start the task of rebuilding our economy?

[Rishi Sunak]

I can give my hon. Friend that reassurance. I look forward to speaking further to him and the excellent Mayor, Andy Street, as we all work together to drive the west midlands economy as part of the economic recovery plan. He, the Mayor and his businesses can play a leading role in that.

Economic Update

Debate between Rishi Sunak and Mike Wood

Tuesday 17th March 2020 Commons Chamber

[Rishi Sunak]

If the hon. Lady will forgive me, I do not have a precise answer for her at this moment, but I will look into the matter as soon as I am done and write to her.

[Mike Wood (Dudley South) (Con)]

A firm in the hospitality sector has written to me to say that tomorrow it must lay off 200 workers and halve the pay of 100 more, because bookings are close to zero and it cannot cover the wage bill. How much longer should it hold off?

[Rishi Sunak]

Hopefully it will benefit today from the significant measures that have been put in place to provide forward business rate relief and immediate cash support through grants. That should provide the business with some reassurance that help is on its way to enable it to protect jobs, with more to come.

Oral Answers to Questions

Debate between Rishi Sunak and Mike Wood

Monday 28th January 2019 Commons Chamber

[Mike Wood (Dudley South) (Con)]

21. What steps his Department is taking to tackle unfair practices in the private parking sector.

[The Parliamentary Under-Secretary of State for Housing, Communities and Local Government (Rishi Sunak)]

The Government fully support the Parking (Code of Practice) Bill of my right hon. Friend the Member for East Yorkshire (Sir Greg Knight). It will create an independent code of practice for private parking companies and deliver robust accountability, providing a much better deal for motorists.

[Rishi Sunak]

I thank my hon. Friend for his work on the Committee and for highlighting his constituents’ problems. I am pleased to tell him that I have already placed a draft outline of the code in the House of Commons Library and as soon as Royal Assent is achieved a full code will be issued for formal statutory consultation.

[Mike Wood]

What assessment has the Minister made of the Bill of our right hon. Friend the Member for East Yorkshire and its likely impact, and does he believe that more is needed to help to protect our constituents from cowboy parking enforcers?