Holly Lynch
Main Page: Holly Lynch (Labour - Halifax)Department Debates - View all Holly Lynch's debates with the HM Treasury
(1 year, 7 months ago)
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Chris Philp
It depends on market prices, as I say. Lacking any clairvoyance about where prices may move in the future, it is not possible to make an assessment not knowing where prices will be in a fast-moving market. I repeat that the volume of gilt purchases by the Bank of England have so far been a great deal below the ceiling that was set out.
Holly Lynch (Halifax) (Lab)
The Resolution Foundation’s chief exec, Torsten Bell, told the Treasury Committee this morning, “This is what happens when you are not paying attention.” He said that the Government’s proposals would not have been a good idea at any time but, “You definitely shouldn’t be doing it in the current climate.” Our constituents need the Government to pay attention. Where is the plan to stabilise the economy now and stem the ongoing damage the mini-Budget continues to cause?
Chris Philp
The growth plan protected the hon. Lady’s constituents and mine from what could have been £6,000 or £7,000 energy bills this winter. Frankly, I think they will welcome that. The growth plan will lay the foundations to continue the G7-leading growth we experienced last year and this.