Middle East: Economic Update Debate

Full Debate: Read Full Debate
Department: HM Treasury

Middle East: Economic Update

David Chadwick Excerpts
Monday 9th March 2026

(1 day, 10 hours ago)

Commons Chamber
Read Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
Rachel Reeves Portrait Rachel Reeves
- View Speech - Hansard - - - Excerpts

As my hon. Friend knows, we have increased the funding available to both UK Export Finance and the National Wealth Fund to invest and support our defence industry. I also support the work that she and my hon. Friend the Member for York Outer (Mr Charters) are doing in ensuring that the financial services sector also lends to defence businesses, including scale-up businesses.

David Chadwick Portrait David Chadwick (Brecon, Radnor and Cwm Tawe) (LD)
- View Speech - Hansard - -

Almost two thirds of homes across Brecon, Radnor and Cwm Tawe are dependent on heating oil, the price of which is now surging thanks to Donald Trump’s decision to bomb Iran. Will the Chancellor reassure my constituents that help will be on the way from the Government?

Rachel Reeves Portrait Rachel Reeves
- View Speech - Hansard - - - Excerpts

The meeting with the Financial Secretary to the Treasury will be open to all MPs and is taking place on Wednesday this week, and I urge the hon. Gentleman to attend that meeting. We are aware of the unique situation with heating oil. That is why I have instructed the Competition and Markets Authority, but I am also keen to hear directly from MPs.