Speech in Commons Chamber - Thu 26 May 2022 Economy Update
"I know that my right hon. Friend the Energy Secretary is engaged with all the companies on how best to support people through this. With regard to the support that we have announced today, about 7% of households are on non-smart pre-payment meters and we want to make sure that …..." Rishi Sunak - View Speech
"My hon. Friend is right. The combination of all the support that we have announced means that almost everybody on means-tested benefits should be in receipt of £1,200 of direct support from the Government. As she says, that is double the support offered by the Labour party...." Rishi Sunak - View Speech
"Seventy per cent. of those in work will pay less tax this year than they did last year because of the changes that we have made. As I have said, now is the time to act because we have more certainty over what the price cap in the autumn will …..." Rishi Sunak - View Speech
"My hon. Friend makes an excellent point. On the last count, we have had, I think, £100 billion of spending commitments or tax reductions from the Labour party. Less than a tenth of that has been funded, despite the shadow Chancellor saying that she is committed to fiscal responsibility. It …..." Rishi Sunak - View Speech
"With regard to businesses, we have the energy-intensive industries support scheme, which the Business Secretary is consulting on extending and improving the generosity of, to help the most energy-intensive industries in the country...." Rishi Sunak - View Speech
"My hon. Friend is an excellent champion of the industry, and he is right to be so, because it is an important industry for the success of our future economy. It employs hundreds of thousands of people and it invests an enormous amount. We want to see that industry succeed …..." Rishi Sunak - View Speech
"As I spelled out, over the long term, through responsible fiscal policy, independent monetary policy and supply-side activism we will combat and reduce inflation. We are making progress on all three fronts...." Rishi Sunak - View Speech
"My hon. Friend is right that we want to ensure that our constituents keep more of their hard-earned money. That is why in July we will raise the national insurance primary threshold to equalise it with the income tax threshold—a tax cut for 30 million people, worth around £330 each...." Rishi Sunak - View Speech
"My hon. Friend the Economic Secretary to the Treasury is in regular dialogue with the Financial Conduct Authority to ensure that the industry is properly regulated. Last year, we also introduced the breathing space programme, for which he deserves enormous praise and which we continue to believe will help people. …..." Rishi Sunak - View Speech
"Japan, as my right hon. Friend will appreciate, is a very particular case, but even Japan is experiencing its highest relative inflation rate in many years. For Switzerland, there are a couple of reasons. The first is a particularly strong Swiss franc, which happens at times like this. The second …..." Rishi Sunak - View Speech