Oral Answers to Questions

Theresa Villiers Excerpts

Tuesday 7th May 2024 Commons Chamber

[Laura Trott]

I know my hon. Friend cares deeply about this matter. I know she has a report coming out in a few weeks, and I look forward to reading it.

[Theresa Villiers (Chipping Barnet) (Con)]

It is crucial to bring down inflation and ensure that we create the right climate for reductions in interest rates and further tax cuts. Does the Minister agree that is the best way to tackle the cost of living pressures?

[Laura Trott]

As ever, my right hon. Friend is absolutely right.

Oral Answers to Questions

Theresa Villiers Excerpts

Tuesday 6th February 2024 Commons Chamber

[Laura Trott]

I can commit to the hon. Gentleman that we are absolutely monitoring the effects, but, as I said, a good package of support is in place for businesses.

[Theresa Villiers (Chipping Barnet) (Con)]

T1. If he will make a statement on his departmental responsibilities.

[The Chancellor of the Exchequer (Jeremy Hunt)]

I would like to update the House on a couple of data releases published since our last oral questions. Total greenfield foreign direct investment since 2010 has not just been higher than that of France, Germany and Italy, but in the past two years has overtaken that of China to be the second highest in the world. Yesterday’s labour force survey said that unemployment fell to a quarterly average of 3.9%, meaning that unemployment has halved and Conservative Governments have overseen the creation of more than 800 jobs every day since 2010.

[Theresa Villiers]

Can the Treasury find funds for an increased pay offer for junior doctors? I completely agree that we must safeguard the public finances and have regard to affordability, but if ever a group deserved a pay rise, it is junior doctors, and we need to get the dispute settled.

[Jeremy Hunt]

As my right hon. Friend knows, as Health Secretary I campaigned for extra money for the NHS to make sure that we could pay NHS staff fairly, but I do believe that junior doctors have had a very fair offer—one that is higher than was recommended by the independent pay review body and is about double the rate of this year’s predicted inflation. I know that the Health Secretary is willing to talk about anything else that could help make their working conditions better.

Oral Answers to Questions

Theresa Villiers Excerpts

Tuesday 19th December 2023 Commons Chamber

[Gareth Davies]

My hon. Friend is right to recognise the east midlands investment zone, which will bring significant benefits across the region in the advanced manufacturing and green industry sectors. I am pleased to tell him that it started with a £9.3 million anchor investment and, over time, will leverage some £323 million in private investment, supporting 4,000 jobs overall.

[Theresa Villiers (Chipping Barnet) (Con)]

21. What steps he is taking to reduce inflation.

[The Chief Secretary to the Treasury (Laura Trott)]

Inflation has now halved from 11.1% in October 2022 to 4.7% in October 2023, delivering on the Prime Minister’s pledge. This has happened not by accident but as a result of difficult decisions made by the Government and the Bank of England—Government decisions that were opposed every step of the way by the Labour party.

[Theresa Villiers]

Thank you for calling me to ask a question while I catch my breath, Mr Speaker!

A major component of inflation over this past year has, of course, been the energy price shock. What are the Government doing to ensure the continued expansion of renewable energy so that we have greater energy security, and so that we are more resilient in the face of energy price shocks from overseas?

[Laura Trott]

My right hon. Friend is right, and she nailed the delivery of her question while out of breath.

At the autumn statement, the Chancellor announced measures that demonstrate the Government’s ongoing commitment to renewable energy as a priority growth sector essential to our energy security and net zero ambitions. The announcements made include a new investment exemption from the electricity generator levy and a £960 million green industries growth accelerator.

Oral Answers to Questions

Theresa Villiers Excerpts

Tuesday 5th September 2023 Commons Chamber

[Jeremy Hunt]

May I gently say to the hon. Lady that this country has actually grown faster than France or Germany since we left the single market? This is a bit of a smokescreen for the SNP’s economic policies, which have led to more people out of work and fewer people in work in Scotland than in England.

[Theresa Villiers (Chipping Barnet) (Con)]

Leaving the EU gives us the opportunity to modernise our regulations and adapt them to local and national domestic interests, but we will seize the benefits of doing that only if we deliver on regulatory reform. So will my right hon. Friend drive that across Departments so that we can increase prosperity and raise living standards as a result?

[Jeremy Hunt]

No one knows more about regulatory reform than my right hon. Friend, who wrote an excellent booklet on it. We look at that booklet ahead of every fiscal event, be it autumn statement or Budget. I hope that she noticed in the Budget big reforms to our medicines regulation. We will continue to learn from the things she advocates.

Oral Answers to Questions

Theresa Villiers Excerpts

Tuesday 20th June 2023 Commons Chamber

[Jeremy Hunt]

We understand the pressures that families are going through up and down the country, but we have responded with generous support this year and last of more than £3,000 for the average household. Not only that, but since 2010 the number of children in absolute poverty has fallen by 400,000.

[Theresa Villiers (Chipping Barnet) (Con)]

T7. Paying around half the cost of people’s energy bills and freezing fuel duty has been crucial in helping people with the cost of living, but is there further action the Government can take to get inflation down? Are we on track to halve it by the end of the year?

[The Chief Secretary to the Treasury (John Glen)]

Controlling public spending and ensuring that the interventions we are making prioritise growth enablement is a relentless activity. The household support fund of £2.5 billion continues to be an additional source of support for households, but there are no quick fixes; there is a relentless pursuit of the goals that we have set out at the start of this year.

Non-domestic Energy Support

Theresa Villiers Excerpts

Monday 9th January 2023 Commons Chamber

[James Cartlidge]

I totally understand the hon. Gentleman’s point. There are issues with people in apartment blocks in certain specific cases; I do not want to second-guess the case that he raises, because there are lots of different schemes. A £600 payment is going out in Northern Ireland: the £400 general support payment that everyone will have had this winter will be paid out together with the alternative fuel payment, because so many people in Northern Ireland use heating oil, whereas in this country it is less common except in rural areas and constituencies like mine.

The hon. Gentleman is absolutely right that there is a category of user who has not yet received the £400. They may be on a contract under which the energy provider is benefiting from the current EBRS and should be passing that benefit on. I am happy for the hon. Gentleman to write to me with details of his case. As for the website, we have said that the relevant link should be available this month so that people can go online and find it. If he writes to me with the details, I will push my officials on when we can expect it to be live so that his constituents can apply for the £400. He makes a good point.

[Theresa Villiers (Chipping Barnet) (Con)]

I really welcome the fact that businesses in my constituency will get another 12 months of support, but none of us can be in any doubt that the global energy price shock will continue to make circumstances extremely difficult for many businesses across the country. May I urge the Minister to put relentless focus on energy efficiency, which gets costs down for business and for taxpayers and helps us to avert disastrous climate change?

[James Cartlidge]

My right hon. Friend makes an excellent point. The long-term answers are about increasing energy security in this country and the amount of energy that we generate. We have made huge progress with renewables, for example, and in North sea transition. I can confirm that alongside energy efficiency measures, businesses can take advantage of the £315 million industrial energy transformation fund and the £450 million boiler upgrade scheme. There are also several capital allowances that may help businesses to make energy efficiency investments, such as the annual investment allowance, which has been set permanently at £1 million; the structures and buildings allowance; and, until 31 March, the super deduction.

Autumn Statement

Theresa Villiers Excerpts

Thursday 17th November 2022 Commons Chamber

[Jeremy Hunt]

We did not shift the burden of funding on to local authorities; it has always been a shared responsibility. As the right hon. Gentleman heard from my statement, we are putting £1 billion into social care next year and £1.7 billion the year after. Taken together, that £4.7 billion is the biggest ever increase in the social care budget. I recognise that there are big pressures and a need for reforms in that sector, but this is a very positive start.

[Theresa Villiers (Chipping Barnet) (Con)]

I thank the Chancellor for the announcement on schools funding, which, as he knows, is something that I raised with him as being crucial. Can he also confirm that, if current forecasts about economic recovery and inflation prove to be overly pessimistic, we will move more quickly than he has announced today towards delivering a lower-tax economy?

[Jeremy Hunt]

My right hon. Friend is an immensely experienced colleague. She is right to point out that there is always inaccuracy in any forecast, and there is always variation from fiscal event to fiscal event, so we keep all those decisions under review in the round. I think it is still important to have forecasts—that is better than not to have them—but we keep all those decisions under review.

Oral Answers to Questions

Theresa Villiers Excerpts

Tuesday 11th October 2022 Commons Chamber

[The Financial Secretary to the Treasury (Andrew Griffith)]

Push payment fraud is a growing problem, which the Government take very seriously. That is why we will be taking powers in the Financial Services and Markets Bill that will mandate reimbursement to consumers.

[Theresa Villiers (Chipping Barnet) (Con)]

T7. It is a massive relief that the nightmare scenario of energy bills of £4,000, £5,000 or even £6,000 has been prevented by the energy price cap. Will the Government explain how they are reducing the cost to taxpayers of that scheme and stabilising the energy market for the future?

[Kwasi Kwarteng]

My right hon. Friend was 100% right to notice that the energy intervention was exactly the right thing. We are going to have a commitment to fiscal responsibility, which will stabilise the economic situation and picture, and I am sure that her constituents will fully understand what the growth plan is all about: putting more money into their pockets so that we can have a growing and dynamic economy.

Oral Answers to Questions

Theresa Villiers Excerpts

Tuesday 28th June 2022 Commons Chamber

[Rishi Sunak]

I can assure the hon. Gentleman that we want to ensure that equivalent support is provided to all Northern Irish families, and that it will be of the same value. We are currently in discussions with a variety of organisations to see how best to deliver that support, but I can give him the reassurance that it will be there in the same quantity, in the same value and at the same time.

[Theresa Villiers (Chipping Barnet) (Con)]

The combined impacts of the £37 billion package that my right hon. Friend has referred to, plus tax reductions such as the cut in fuel duty, are providing really significant support to people in Northern Ireland. Does he agree that that is an illustration of why people in Northern Ireland are better off as a result of the Union and of the fact that we are stronger together as a group of four nations?

[Rishi Sunak]

My right hon. Friend speaks with authority and experience on this topic, and of course she is absolutely right: the UK Government are ensuring that families across the United Kingdom are benefiting from the support we are putting in place. More broadly, we will do everything we can in government to protect and support the United Kingdom.

Tackling Short-term and Long-term Cost of Living Increases

Theresa Villiers Excerpts

Tuesday 17th May 2022 Commons Chamber

[Theresa Villiers (Chipping Barnet) (Con)]

There is much to welcome in the Queen’s Speech programme, but I want first to highlight a very serious concern about clauses 83 and 84 of the Levelling-up and Regeneration Bill, which could massively erode local decision making on planning. I hope that Ministers will think again about awarding themselves the power to override local development management policies, which provide such important protection against over-development.

The main theme I want to cover today is the broader economic theme and how we ensure that we have a sustainable way to help people with the cost of living. Crucial to that is the regulatory reform envisaged in legislation such as the Brexit freedoms Bill, the financial services and markets Bill and the data reform Bill. As inflation returns to the global economy at levels not seen for 30 years, it is imperative that we have a clear, long-term economic plan to grow the economy, raise living standards, repair the public finances after covid and bring down taxes. This is the best and most sustainable way to help people with rising household bills.

Of course, like everyone else in the Chamber, I know how urgent it is that we help people with rising household bills, which is why I very much welcome the Chancellor’s £22 billion intervention. Raising the national insurance threshold is one of the biggest personal tax cuts in decades. Increasing the amount people can earn before benefits are withdrawn has put £1,000 in the pockets of low-income families, and of course the 5p fuel tax cut can help everyone.

In addition to this, we need a convincing programme to grow our economy out of the traumas being inflicted on us by the global rise in energy prices. That is why the regulatory reform in the Queen’s speech is crucial. I was one of the members of the taskforce on innovation, growth and regulatory reform established by the Prime Minister. Our report set out a substantial list of regulatory improvements to boost the economy and create thousands of well-paid jobs, especially in high-tech sectors such as bioscience. This kind of reform—only possible because of Brexit—is one of the most effective ways to grow our economy. It is the sustainable long-term way to ensure we have the Goldilocks combination of sound public finances, money to fund our public services and lower taxes.

Put simply, supply-side reforms to set enterprise and innovation free are the means by which we can make the numbers add up. We cannot spend our way out of an inflation crisis and we certainly should not borrow our way out of an inflation crisis, but we can grow our way out of this inflation crisis. None of these reforms needs to jeopardise safety, consumer protection or the environment. As set out in the TIGRR report, we need regulation that is more modern, more flexible, more proportionate and more targeted. We need new rules that are rooted in our common law tradition, can be piloted and tested, and can be amended if they turn out to have unintended consequences, so that we deliver the regulatory outcomes and high standards we want, but at a lower cost and with far less of a burden on business and industry.

Regaining the right to make our own decisions on regulation is one of the key benefits of leaving the European Union. For six years as a Member of the European Parliament, I saw at first hand how the EU legislative process works. It is slow, it is cumbersome and it gets so bogged down in political horse-trading between countries that it is no wonder it often produces such poor results. I was one of just a handful of Conservatives to vote three times against the first version of the withdrawal agreement. I did that because I did not want us locked forever in the regulatory orbit of the EU. Now we are free of that gravitational pull, we must use the opportunities it gives us. Otherwise, all those years of Brexit rows and divisions will have been for nothing.

Only when we have charted our own course on regulation can we truly say that we have got Brexit done, so now is the time to get on and do this—for our whole country, too, and that means significant changes to the Northern Ireland protocol. Now is the time to set out a clear plan for growth that will deliver the high-wage jobs, the opportunities and the lower taxes that our constituents want to help them with the cost of living and the inflation crisis we face in this country and across the global economy.