Economic Situation Debate

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Department: HM Treasury

Economic Situation

Owen Thompson Excerpts
Wednesday 12th October 2022

(1 year, 6 months ago)

Commons Chamber
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Chris Philp Portrait Chris Philp
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When the hon. Lady was stopped in the street, I presume that she explained the points about global interest rates increasing. When her constituents asked about energy prices, I presume that she explained to them that this Government took decisive action on our third day in office to protect our constituents from bills that could have gone up to £5,000 or £6,000 a year. I presume that she also explained that the Labour party’s plan was good only for six months, but the plan that we have put in place lasts for two years.

Owen Thompson Portrait Owen Thompson (Midlothian) (SNP)
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We have seen the crash of the pound. We have seen mortgage prices going through the roof. We are seeing the cost of living across the country getting out of control. There has been economic chaos since this new Tory Government took over from the last Tory Government. May I ask the Chief Secretary: on a scale of one to 10, how well does he think it is going?

Chris Philp Portrait Chris Philp
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I do not call the lowest unemployment for 48 years, and the top growth rate in the G7, economic chaos.