Oral Answers to Questions
Debate between James Cartlidge and Margaret Ferrier(1 year, 1 month ago)
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Margaret Ferrier (Rutherglen and Hamilton West) (Ind)
Industry stakeholders have been clear that Ministers must now focus on long-term solutions to support people with ongoing high energy prices through improved home energy efficiency. What steps will Ministers take to support households with the rising costs of energy in the long term?
The Exchequer Secretary to the Treasury (James Cartlidge)
The hon. Lady makes an excellent point. We have put in place a huge amount of support to help people through this immediate challenge with their energy bills, but we do need to think long term. That is why the Chancellor has put in place the 15% target to reduce energy consumption in both domestic and non-domestic buildings, but alongside that, and crucially, we have to increase the supply of UK energy, both renewables and in the North sea.
IMF Economic Outlook
Debate between James Cartlidge and Margaret Ferrier(1 year, 2 months ago)
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James Cartlidge
The hon. Gentleman knows there is enormous benefit to Wales from being part of the United Kingdom. I have set out the many ways that we are boosting this country, and I gave the example of the changes to Solvency II regulations. They will hopefully see a significant increase in infrastructure investment, which will be of massive benefit to every part of the United Kingdom, including Wales.
Margaret Ferrier (Rutherglen and Hamilton West) (Ind)
Often it is the retail and hospitality sectors that are hit the hardest during economic slowdown, particularly companies trading in non-essential goods and services. What specific support is being considered for such businesses to ensure that redundancies are minimised and jobs are protected?
James Cartlidge
The hon. Lady makes a very good substantive economic point, which is that when inflationary pressures are higher, as they are at the moment, it is discretionary consumption that comes under pressure—and that means, for example, demand in pubs and shops and so on. I can confirm that we have taken huge steps to support hospitality, as we did in the pandemic. We recently announced that the 50% reduction in business rates would be extended by another year and go up to 75%. I announced in December a six-month extension to the freeze in alcohol duty, but hospitality is an important sector that is creating jobs, and we want to see what more we can do to support it.