Economic Update Debate

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Department: HM Treasury

Economic Update

Ronnie Cowan Excerpts
Thursday 3rd February 2022

(2 years, 2 months ago)

Commons Chamber
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Rishi Sunak Portrait Rishi Sunak
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I agree with my hon. Friend. She puts the point excellently. Government Members are in favour of more investment in domestic energy, more jobs for the British economy and greater energy security for our nation.

Ronnie Cowan Portrait Ronnie Cowan (Inverclyde) (SNP)
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With families facing an extra £2,800 of expenses, this package does not really touch the sides at all, does it? With regard to electricity, the Chancellor said:

“with the Government meeting the cost in full.”

But he is not is he? He is spreading it over five years, which means that next year, when electricity prices continue to rise, the poorest families will face increased bills and have to find £40 to pay back to the Chancellor. You have not put a lid on it, Chancellor, you have just kicked the can further down the road.

Rishi Sunak Portrait Rishi Sunak
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As my right hon. Friend the Member for Harlow (Robert Halfon) said earlier, £350 is a significant amount of money for families up and down the country, and I think it will make a real difference and lessen their anxiety. What I was talking about was the council tax rebate, which will be fully Exchequer funded with no cash due back.