Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of falling oil prices on the rural economy.

The sterling oil price has fallen by around 50% since the middle of last year. The IMF have forecast that world GDP could be boosted by up to 0.7% as a result of the fall.

The Government is committed to ensuring that the benefits of these price falls are passed through to households in rural areas of the UK, which combined with the Government’s action to help these hardworking families, will boost real household incomes in these areas.

Our rural communities rely on their cars, with 93% of households in the most rural areas owning one or more vehicle. The recent falls in pump prices will therefore be benefitting these rural communities more than those in towns and cities.