Oral Answers to Questions

Lindsay Hoyle Excerpts

Tuesday 6th February 2024 Commons Chamber

[Nigel Huddleston]

My hon. Friend makes an important point. Of course, we never know from day to day exactly what Labour’s policy is, and I understand there are even differences among its Front Benchers at the moment, but we heard a firm commitment, without any promises at all about where the money would come from. We therefore know where it would come from: it would come out of taxpayers’ pockets or further borrowing, which is deferred taxation. Everybody will pay for it.

[Mr Speaker]

I call the shadow Minister.

[Darren Jones (Bristol North West) (Lab)]

The Labour party has set out clear proposals to close tax loopholes on non-doms, private schools and private equity to give a much-needed boost to our public services. Will the Treasury Minister confirm whether the Government have assessed, or plan to assess, the merits of such a policy?

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[Nigel Huddleston]

My hon. Friend puts it well. Of course, we have seen the considerable protections and support given in retail, hospitality and leisure business rates relief in England. That has not been extended to the same extent in Wales, and Scotland failed to extend it as well. She makes an important point.

[Mr Speaker]

We go back to Scotland: I call the SNP spokesperson.

[Drew Hendry (Inverness, Nairn, Badenoch and Strathspey) (SNP)]

Contrary to what the Minister said, OECD forecasts show that the UK will have the lowest growth in the G20 and the highest inflation in the G7. Ministers like to pretend that there is no real cost of living crisis, but there is one, and it is biting hard. How long will Ministers—and their Labour counterparts—continue to peddle the fantasy that Brexit is somehow good for the Scottish people?

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[Bim Afolami]

This Government have introduced one of Europe’s largest support packages, worth more than £100 billion during 2022 to 2025. That is an average of £3,700 per household. The point about mortgage rates is that they went up everywhere across the world, to a higher level than ours in many jurisdictions such as the United States. I have already mentioned the work that we have done on the mortgage charter, helping hundreds of thousands of people to manage their mortgages, but the critical thing that we need to do is bring inflation down. She needs to talk to her shadow Chancellor and the shadow Treasury team about their plans, which would make inflation higher.

[Mr Speaker]

Order. I am not sure that “she” is a good word to use to other Members.

[Paul Girvan (South Antrim) (DUP)]

11. Whether he has had recent discussions with Cabinet colleagues on funding for a UK-wide infected blood compensation scheme.

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[Jeremy Hunt]

As my right hon. Friend knows, as Health Secretary I campaigned for extra money for the NHS to make sure that we could pay NHS staff fairly, but I do believe that junior doctors have had a very fair offer—one that is higher than was recommended by the independent pay review body and is about double the rate of this year’s predicted inflation. I know that the Health Secretary is willing to talk about anything else that could help make their working conditions better.

[Mr Speaker]

I call the shadow Chancellor.

[Rachel Reeves (Leeds West) (Lab)]

Last week, at Prime Minister’s questions, when asked about the Tory mortgage penalty, the Prime Minister boasted that someone coming off a fixed-rate mortgage

“will be able to save hundreds of pounds.”—[Official Report, 31 January 2024; Vol. 744, c. 857.]

But the small print was that they had to add many years to their mortgage. Three million people have been coming off fixed-rate mortgage deals this year and last, so does the Chancellor agree with the Prime Minister that British homeowners have never had it so good?

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[Jeremy Hunt]

I am sure the hon. Lady understands that I cannot talk about what will be in the Budget ahead of the Budget because no decisions have been made. I celebrate with her that the UK recently became the first major economy in the world to decarbonise by more than 50%, ahead of France, Germany, Japan and the United States.

[Mr Speaker]

I call the Chair of the Treasury Committee.

[Harriett Baldwin (West Worcestershire) (Con)]

If the Chancellor had an ambition to spend an additional £28 billion a year on something, will he explain to the House what level of tax that would impose on ordinary households?