Economy Update

Robert Neill Excerpts

Thursday 26th May 2022 Commons Chamber

[Rishi Sunak]

As I said, when it comes to all the direct payments through the welfare system, we will take legislative powers to deliver them directly in Northern Ireland, where we believe we have the operational capacity to do so. As for the support for energy bills in the autumn, we are open to exploring how best to deliver that support to those in Northern Ireland. Ordinarily it would be Barnetted—it is worth £165 million—because, as the hon. Gentleman will know, the energy market is separate to that in the rest of Great Britain, but if there is a way for us to deliver that support directly, we are open to doing so. We just need to see whether there is a mechanism to do so.

[Sir Robert Neill (Bromley and Chislehurst) (Con)]

The London Borough of Bromley has the highest percentage of pensioner households in the whole of Greater London, and my right hon. Friend’s well-targeted initiative will be very much welcomed by my constituents. Equally, of course, in the longer term, inflation is a threat to their pensions and fixed incomes. Will my right hon. Friend assure me that as well as dealing with the immediate pressures now, we will pursue a policy of non-inflationary growth? Above all, that must surely come from market and other reforms to improve our comparatively low level of productivity. Will he make that a priority going forward?

[Rishi Sunak]

My hon. Friend is absolutely right and I know that he is a champion for pensioners in his constituency. I hope that he will be pleased by today’s news that they will receive an extra £300 this winter to help get them through. His point about the long run is right. My belief is that if we can get businesses to invest more, train more and innovate more, spurred on by tax reductions and reforms this autumn, we will be able to drive up our growth and productivity.