Middle East: Economic Update Debate

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Department: HM Treasury

Middle East: Economic Update

Tom Tugendhat Excerpts
Monday 9th March 2026

(1 day, 9 hours ago)

Commons Chamber
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Rachel Reeves Portrait Rachel Reeves
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I recognise that my hon. Friend’s constituents will be affected more than most by worries about the delivery and price of heating oil. That is why I have instructed the Competition and Markets Authority to look at price gouging and why the Financial Secretary to the Treasury will be meeting my hon. Friend and other concerned MPs on Wednesday this week.

Tom Tugendhat Portrait Tom Tugendhat (Tonbridge) (Con)
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Will the decisions that the Chancellor is making about the strategic reserve being used for defence include consideration about the availability of funding for the Royal Navy to prepare warships to go to sea? There has been rumour over the past few days that one reason why one of His Majesty’s ships is not ready is that the contractor is still working 9 to 5. Will she be able to fund this properly, so that all ships are available as quickly as possible?

Rachel Reeves Portrait Rachel Reeves
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I can confirm that there are no financial impediments to warships going to the middle east. Money is available through the special reserve for personnel and contracts for all our operations in the middle east.