Oral Answers to Questions

Damien Egan Excerpts

Tuesday 10th March 2026 Commons Chamber

[The Parliamentary Secretary to the Treasury (Torsten Bell)]

The hon. Lady is right to talk about the long-term answer here, which is more domestic energy security. That is why we are getting on with building nuclear power—whether it is in Wylfa, Suffolk or Somerset. On her specific question, the Chancellor and Ministers have been very clear with the CMA that, particularly at times such as these, we need to ensure that no companies are taking advantage of customers—whether they are customers filling up their domestic heating oil or hospitality businesses.

[Damien Egan (Bristol North East) (Lab)]

T5. Given the events in the middle east, can the Chancellor share with us what work is being done here and alongside our NATO allies and other partners to understand the economic consequences, people’s changing needs and the impact that has on Government spending when countries face times of conflict?

[Rachel Reeves]

I am proud to be the Labour Chancellor who has overseen the biggest uplift in defence spending since the end of the cold war. Just last week we announced a £1 billion helicopter deal with Leonardo, based in Yeovil, just down the road from my hon. Friend. Yesterday I confirmed to the House that the Ministry of Defence has access to the special reserve. That means that the added costs of deploying additional capabilities in the middle east will be funded entirely by the Treasury special reserve.