Christine Jardine
Main Page: Christine Jardine (Liberal Democrat - Edinburgh West)Department Debates - View all Christine Jardine's debates with the HM Treasury
(2 years ago)
Commons ChamberRead Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
John Glen
As hon. Members would expect, the Treasury has a strong and frequent dialogue with different members of the Bank of England and deputy governors. However, our main inflation tools for an independent monetary policy—fiscal responsibility and supply-side activism—will remain the best weaponry for dealing with the challenges we face, and we will work in a co-ordinated fashion with an independent Bank of England to address those pressures.
Christine Jardine (Edinburgh West) (LD)
Today’s figures should be a wake-up call to the Government. Instead of reciting a list of events that are affecting other countries across the world and being better dealt with by other Governments in the G7, do the Government not recognise that the time has come to change direction? They must get away from the massive tax hikes that are pulling the squeezed middle into debt and creating misery across this country—tax hikes that include the £11 billion national insurance hike, which was wiped out by the Government’s own incompetence in not insuring against the money created for quantitative easing. Will the Government recognise that they are getting it wrong and, instead of making excuses, act to change things?
John Glen
The Government will always look constructively at all the options. In light of the representations made across this House and across the country for more interventions to support those facing increases in the cost of energy at home, we made those interventions. The Chancellor has made clear that we will reform and cut taxes on investment in the autumn to spur that growth and productivity, and we are working closely with industry on the best possible way to make those interventions.