Fuel Duty
Debate between Simon Hoare and Torsten Bell(2 weeks, 1 day ago)
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Torsten Bell
The right hon. Member is nodding. So I would offer that by way of comparison.
Torsten Bell
I will make a bit of progress, and then take some interventions.
As I was saying, we are providing additional capabilities to the middle east, but I want to be clear that the UK will not be drawn into a wider war. We on the Labour Benches have been clear about our approach. We are in the business of protecting British nationals, not of trying to deliver regime change from the air. We need to de-escalate the conflict and we are playing our part in doing so, but the full economic impact of the conflict will of course depend on its severity and duration. Recent events have led to significant increases in oil and gas prices. As of this morning, oil prices remain over $100 per barrel and gas prices at 129p per therm.
Simon Hoare
We see you as responsible for everything, Mr Speaker!
The Minister was clearly right to point out the inflationary cost pressures as a result of the Iranian situation. He might be reminded that the announcement the Chancellor made on the increase in fuel duty predates that situation. Were it not to have been made, and given the impact that we are seeing on, among other things, fuel costs from Iran, would he and the Chancellor be thinking that now is a good time to make an announcement about increasing fuel duty? The world has changed and surely this policy should change as well to reflect the immediacy of the situation.
Torsten Bell
I thank the hon. Member for his question and his invitation to discuss some hypotheticals. I would just point out that it is only next week that the policy of extending the 5p freeze comes into effect. Fuel duty will be frozen until the end of August this year. That is the position as it is. I will turn later to how we think about the future, because that is a fair question, but the policy I am talking about comes into effect next week exactly.
Simon Hoare
There are a huge number of families up and down the country who manage their household budgets incredibly tightly. They will be thinking about whether they can afford a holiday this year and so on. I appreciate that August seems a long way away, but many of those people will be sorting out their budgetary plans now. I am not certain that those “just about managing” families, as we used to call them, can wait until August for any clarity or certainty. Do not play cat and mouse with the British people; take the sensible decision now, and press pause to reflect the dramatic change in circumstances we are seeing.
Torsten Bell
I completely agree with the hon. Member that families up and down the country are worried about what they are seeing on their TV screens about the conflict in the middle east—maybe because they know people directly, but also much more universally about the effect on all of us and on their budgets—and they expect a Government who take a sensible approach, meaning that we protect household finances, which I will come to, as well as the public finances. That means taking decisions based on recognising the unavoidable uncertainty about how the future of the conflict plays out.
Winter Fuel Payment
Debate between Simon Hoare and Torsten Bell(9 months, 3 weeks ago)
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Simon Hoare (North Dorset) (Con)
I assume that because the Minister cannot find the word “sorry” in his vocabulary this afternoon, he expects pensioners in North Dorset and elsewhere to be saying thank you to him for this screeching U-turn. However, just a few weeks ago, what he has announced today was predicted to cause financial Armageddon. When should the City of London, mortgage payers and everybody else now expect the run on the pound that was predicted by the Leader of the House of Commons?
Torsten Bell
What this Government are doing is sorting out the mess in the public finances left by the Conservative party, and not repeating its irresponsibility. All Opposition parties oppose all of the tax rises set out in the autumn Budget, yet claim that they support the spending on the NHS and on pensioners—they cannot have it both ways. The party of Liz Truss has not learned its lesson.