Ben Goldsborough
Main Page: Ben Goldsborough (Labour - South Norfolk)Department Debates - View all Ben Goldsborough's debates with the HM Treasury
(1 day, 10 hours ago)
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Rachel Reeves
As the former Chancellor, the right hon. Member for Godalming and Ash (Sir Jeremy Hunt), said, it is too early to know the impact of this. The key is de-escalation and getting vessels flowing through the strait of Hormuz. The hon. Lady will have heard me say that heating oil is uniquely affected. People who use heating oil will get the benefits in their electricity bills, but I urge her to attend the meeting on Wednesday to put the case of her constituent to the Financial Secretary to the Treasury.
Ben Goldsborough (South Norfolk) (Lab)
I thank the Chancellor and Treasury officials for working closely with the Labour rural research group to discuss the heating oil troubles that we are facing right now, with prices going up by over 200% in some parts. Can she elaborate on what action will be taken with the Competition and Markets Authority to ensure that we are protecting our consumers from these price gouging effects?
Rachel Reeves
The point about price gouging is really important, and that is why we have today instructed the Competition and Markets Authority to ensure that heating oil and petrol retailers, for example, are not taking advantage of this situation to line their own pockets rather than thinking about the consumers they serve.