Middle East: Economic Update Debate

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Department: HM Treasury

Middle East: Economic Update

Meg Hillier Excerpts
Tuesday 24th March 2026

(1 day, 9 hours ago)

Commons Chamber
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Lindsay Hoyle Portrait Mr Speaker
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I call the Chair of the Treasury Committee.

Meg Hillier Portrait Dame Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)
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As the Prime Minister said yesterday, we have no idea how long this conflict will be and he is not assuming that it will be over quickly. We live in troubled times, and it is quite right that the Chancellor of the Exchequer is making serious contingency plans as we move through spring and summer and into autumn and winter. As she well knows, one of the challenges of targeting support is the availability of data. What is she doing to make sure that the data is available—not just across Whitehall, but in local government and in the energy companies themselves—to target support at those who need it most?

Rachel Reeves Portrait Rachel Reeves
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That is a really important point. The previous Government had not done the contingency planning, so when the energy price shock came along, they said, “We are not going to provide any support.” In the end, they had a choice between doing nothing or providing blanket support. It was that blanket support that cost £78 billion. We have been working with the Department for Work and Pensions, local Government and others to ensure that we will be able to target support at those who need it most, but that is in addition to taking £150 off everyone’s energy bills already. We are doing the work. The prices come down in April for the following three months, and we are a long way off the winter, when 78% of gas is used by households.