Bulb Energy: Administration Debate
Full Debate: Read Full DebateDepartment: Department for Business, Energy and Industrial Strategy
Catherine West
Main Page: Catherine West (Labour - Hornsey and Wood Green)Department Debates - View all Catherine West's debates with the Department for Business, Energy and Industrial Strategy
Bulb Energy: Administration
Catherine West Excerpts(2 years, 5 months ago)
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Kwasi Kwarteng
One word that the hon. Lady did not mention was covid. As a consequence of covid, my right hon. Friend the Chancellor of the Exchequer has put £400 billion into the economy to support the very businesses that she refers to. Many, many of the businesses in Scotland have been supported by that.
Catherine West (Hornsey and Wood Green) (Lab)
Just since the Budget, several companies have gone under. Will the Secretary of State inject some urgency into this matter and look again at the suggestion, now that the Treasury has the freedom to do so, to lift the VAT burden both on households and on small businesses, so that we could have an immediate lift that will happen in this country regardless of what is happening to global prices?
Kwasi Kwarteng
The hon. Lady will appreciate that matters to do with taxation, VAT and all those things are subject to the Chancellor of the Exchequer’s departmental policy. She will also know that there is urgency about this. I speak to Ofgem every day. We monitor the market extremely closely. We are looking at how the supplier of last resort process is working—it is working reasonably well. As I have said, we are looking at the special administration regime with regard to Bulb.