Economic Responsibility and a Plan for Growth Debate

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Department: HM Treasury

Economic Responsibility and a Plan for Growth

Imran Hussain Excerpts
Wednesday 19th October 2022

(1 year, 6 months ago)

Commons Chamber
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Andrew Griffith Portrait Andrew Griffith
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I was in the process of telling the hon. Lady exactly what the Government will do. No one should trivialise the impact of rising global interest rates on mortgages. The last time mortgages were at this level was under her Government, and not after the backdrop of a global pandemic and a war on European soil.

Imran Hussain Portrait Imran Hussain (Bradford East) (Lab)
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Will the Minister give way?

Andrew Griffith Portrait Andrew Griffith
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No, I think I have been relatively generous in taking interventions from the Opposition. I will make some progress, because I am sure that many people would like to speak. As the House knows, we will publish the medium-term fiscal plan, which will be fully reported on by the OBR and will set out our approach to fiscal responsibility: the variable that we can control in Government to help to reduce rates of interest going forward. We remain committed to pursuing growth as the driver of prosperity for all.

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Drew Hendry Portrait Drew Hendry
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My hon. Friend is completely right and he represents a constituency with many off gas grid constituents, as I do. He makes a telling point about the cost of that. What support are the UK Government giving to these people who face twice the bills that other people will? They are giving a measly £100.

Imran Hussain Portrait Imran Hussain
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Even today, the Minister refuses to give us figures on the expected windfall revenue. Does the hon. Gentleman agree that the simple fact remains that this Government always side with the energy giants as opposed to ordinary British people?

Drew Hendry Portrait Drew Hendry
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The hon. Gentleman makes a fair point. As I said in my opening remarks, the Government’s ideology is that the rich will get richer while the poor will suffer. That has been underlined over the past few weeks like at no other time in this place. The scales have fallen away—