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Written Question
Cost of Living: Hitchin and Harpenden
Friday 16th September 2022

Asked by: Bim Afolami (Conservative - Hitchin and Harpenden)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to help support people in Hitchin and Harpenden constituency with rises in the cost of living in the period between August 2021 and August 2022.

Answered by Chris Philp - Shadow Home Secretary

The government understands that people across the UK are worried about the rising cost of living and are seeing their disposable incomes decrease as they spend more on the essentials.

On 8 September, government announced that the energy price cap will be superseded with a new Energy Price Guarantee, which means that a typical UK household will pay no more than £2500 a year on their energy bill over the next 2 years from 1 October. The Government will also introduce a six-month scheme to support businesses, charities and public sector organisations, which will protect them from soaring energy costs and provide them with the certainty they need to plan their business through the acute crisis this winter.

This announcement comes in addition to the previously announced support. Eight million of the most vulnerable households, including those in Hitchin and Harpenden, will see £1,200 extra support in Cost of Living Payments, provided in instalments across the year, with additional support for pensioners and those claiming disability benefits. This includes the £400 support through the Energy Bills Support Scheme – available to all households.

We continue to monitor a range of cost of living pressures and their impacts, and later this month the Chancellor will set out a package of measures to deliver on the Prime Minister’s commitment to cut taxes and boost growth, laying the groundwork for the change we need in the long term to make our economy stronger.

Speech in Commons Chamber - Wed 07 Sep 2022
Financial Services and Markets Bill

"The right hon. Gentleman is making an important and interesting speech. On that point about the FCA, will he explain to the House whether he supports changing the regulatory structure and having one super-regulator, or something of a similar description?..."
Bim Afolami - View Speech

View all Bim Afolami (Con - Hitchin and Harpenden) contributions to the debate on: Financial Services and Markets Bill
Speech in Commons Chamber - Wed 07 Sep 2022
Financial Services and Markets Bill

"It is a pleasure to speak in support of the Bill. I will not repeat what so many hon. Members have said about the excellent work of the former Economic Secretary—my hon. Friend the Member for Salisbury (John Glen)—and the present Economic Secretary in bringing it to the House, but …..."
Bim Afolami - View Speech

View all Bim Afolami (Con - Hitchin and Harpenden) contributions to the debate on: Financial Services and Markets Bill
Speech in Commons Chamber - Wed 07 Sep 2022
Financial Services and Markets Bill

"Lest anybody should think I have any particular specialist knowledge, I stress that this is entirely my own view, but I could imagine a scenario in which the Government, supported by this House, intended certain changes to a regulation such as MiFID II. A strategy document might say that the …..."
Bim Afolami - View Speech

View all Bim Afolami (Con - Hitchin and Harpenden) contributions to the debate on: Financial Services and Markets Bill
Speech in Commons Chamber - Wed 07 Sep 2022
Financial Services and Markets Bill

"I would posit two particular jurisdictions. First, I think of the London stock exchange. The House may not fully appreciate the amount of capital that it has, through capital raising by means of initial public offerings and various other measures. However, we have seen a dramatic fall-off since even five …..."
Bim Afolami - View Speech

View all Bim Afolami (Con - Hitchin and Harpenden) contributions to the debate on: Financial Services and Markets Bill
Speech in Commons Chamber - Wed 07 Sep 2022
Financial Services and Markets Bill

"I do not want to cast aspersions on any other jurisdiction. It is clear that we should be proud of our own high standards. I know we will probably get to discussing illicit money from Russia later this year, as we did earlier in this Session. In this country we …..."
Bim Afolami - View Speech

View all Bim Afolami (Con - Hitchin and Harpenden) contributions to the debate on: Financial Services and Markets Bill
Speech in Commons Chamber - Tue 28 Jun 2022
Oral Answers to Questions

"The Chancellor knows that a significant part of inflation is not within this Government’s control, and indeed not within the country’s control; it is a result of international energy costs, particularly oil and gas. That is happening globally because there is an imbalance between supply and demand across the world. …..."
Bim Afolami - View Speech

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Written Question
Fuels: Taxation
Monday 20th June 2022

Asked by: Bim Afolami (Conservative - Hitchin and Harpenden)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what the total amount raised by HM Treasury is on taxes relating to fuel sold to (a) domestic and (b) business consumers for every fiscal year since 2010 in both (i) nominal and (ii) inflation adjusted terms.

Answered by Helen Whately - Shadow Secretary of State for Work and Pensions

The information is not available.

HMRC does not hold information on VAT revenue from specific products or services because businesses are not required to provide figures at a product level on their VAT returns, as this would impose an excessive administrative burden.

Revenue from Fuel Duty is paid upon clearance to the market rather than point of sale, and therefore no breakdown between domestic and business consumers is held.

Speech in Commons Chamber - Mon 13 Jun 2022
UK Gross Domestic Product

"Much of the discussion in the House today has been about the fiscal aspects of inflation, but a huge part of the rise in inflation in this country and across the western world is the monetary system, in particular quantitative easing, which has continued long beyond the financial crisis, when …..."
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View all Bim Afolami (Con - Hitchin and Harpenden) contributions to the debate on: UK Gross Domestic Product
Speech in Commons Chamber - Tue 17 May 2022
Oral Answers to Questions

"I welcome the Government’s increased investment in infrastructure, but as the Minister knows, for the investment to be most useful we need to improve the deliverability of that infrastructure practically on the ground. Could she set out further what the Government are doing to improve the efficacy of all of …..."
Bim Afolami - View Speech

View all Bim Afolami (Con - Hitchin and Harpenden) contributions to the debate on: Oral Answers to Questions