Statement on the Government's continued response to the war in the middle east.

Statement on the Government's continued response to the war in the middle east.

Statement on the Government's preparedness and economic response to the conflict in the middle east.

Statement on the Government's preparedness and economic response to the conflict in the middle east.

Statement on the Spring Statement.

Statement on the Spring Statement.

Budget statement 30 October 2024. Ways and means resolution. Agreed to on question.

Budget statement 30 October 2024. Ways and means resolution. Agreed to on question.

Statement on public spending inheritance

Statement on public spending inheritance

Budget debate (second day). Motion that income tax is charged for the tax year 2024-25. Debate adjourned, to be resumed on 11 March.

Budget debate (second day). Motion that income tax is charged for the tax year 2024-25. Debate adjourned, to be resumed on 11 March.

Budget debate (second day). Motion that income tax is charged for the tax year 2024-25. Debate adjourned, to be resumed on 11 March.

Budget debate (second day). Motion that income tax is charged for the tax year 2024-25. Debate adjourned, to be resumed on 11 March.

Urgent question on the UK economy entering recession.

Urgent question on the UK economy entering recession.

Nineteenth opposition day debate (part one). Motion that this House is extremely concerned that, under this Conservative Government, average mortgage costs will be increasing by £2,900 per year, with a typical household in the UK paying over £2,000 more per year than in France and over £1,000 more than in Ireland and Belgium, and that renters face huge increases in rent payments; condemns the Government for its slowness in acting to support millions of homeowners and renters and so alleviate the impact of its policies; calls on the Government to bring in mandatory measures, as the current voluntary measures could lead to around one million homeowners missing out on support, and to immediately adopt measures to ease the mortgage crisis and halt repossessions by guaranteeing support from lenders for struggling mortgage borrowers and strengthening the rights of renters; in particular calls on the Government to require lenders to allow borrowers to switch to interest-only mortgage payments for a temporary period, to lengthen the term of their mortgage period, to reverse any support measures when requested and to make mandatory repossession restrictions; and further calls on the Chancellor of the Exchequer to instruct the Financial Conduct Authority to urgently issue guidance that the credit score of borrowers should be unaffected by any temporary switches to interest-only mortgage payments or lengthening of their mortgage period and to introduce a renters' charter that would end no-fault evictions immediately. Negatived on division (213 to 288). Main question, as amended, agreed to on division (283 to 198). Resolved that this House welcomes the Government's drive to halve inflation, grow the economy and reduce debt; particularly welcomes the Government's new Mortgage Charter which has been agreed by 85 per cent of the residential mortgage market and will provide support to mortgage holders through new commitments and flexibilities to help borrowers who are anxious about rising interest rates; notes the extensive package of cost of living support to help families with rising prices, worth an average of £3,300 per household including direct cash payments to the eight million most vulnerable households; and further believes that Labour’s policies to manage the economy would be inflationary, lead to higher interest rates and put more pressure on mortgage holders and renters.

Nineteenth opposition day debate (part one). Motion that this House is extremely concerned that, under this Conservative Government, average mortgage costs will be increasing by £2,900 per year, with a typical household in the UK paying over £2,000 more per year than in France and over £1,000 more than in...

Urgent question on the International Monetary Fund world economic outlook.

Urgent question on the International Monetary Fund world economic outlook.

Fifth Opposition day debate (part one). Motion that this House regrets the long-term damage to the economy as a direct result of the mini budget, where mortgage rates for households have risen and the stability of pension funds has come under threat; notes that despite substantial U-turns in policy since the mini budget, the Government’s funding position has deteriorated, the cost of borrowing is expected to be higher for many years and the UK’s fiscal credibility has been undermined, all while many energy producers continue to make record windfall profits; therefore calls on the Government to take all necessary steps to stabilise the economy and make it work for ordinary working people and business through a plan for growth that puts them at its heart; and further calls on the Government to publish the Office for Budget Responsibility forecasts immediately alongside Government estimates of windfall profits for the next two years from energy producers in the UK. Agreed to on division (223 to 0).

Fifth Opposition day debate (part one). Motion that this House regrets the long-term damage to the economy as a direct result of the mini budget, where mortgage rates for households have risen and the stability of pension funds has come under threat; notes that despite substantial U-turns in policy since...

Fifteenth opposition day debate (part one). Motion that this House calls on the Government to cancel its planned 1.25 per cent rise in National Insurance Contributions that will cost families an average of £500 per year from April 2022. Agreed to on question. Sitting suspended for a virtual address to Members in the Chamber by President Volodomyr Zelensky of Ukraine.

Fifteenth opposition day debate (part one). Motion that this House calls on the Government to cancel its planned 1.25 per cent rise in National Insurance Contributions that will cost families an average of £500 per year from April 2022. Agreed to on question. Sitting suspended for a virtual address to...

According to the Office for Budget Responsibility, the Government’s supply chain chaos, woefully inadequate post-Brexit planning and a lack of HGV drivers have contributed to higher inflation. The cost of the weekly shop is already going up and up, as the Chancellor will have heard from shoppers in Bury last week. Does he have any idea of how much the average weekly supermarket shop is expected to increase in the next year for a typical family?

According to the Office for Budget Responsibility, the Government’s supply chain chaos, woefully inadequate post-Brexit planning and a lack of HGV drivers have contributed to higher inflation. The cost of the weekly shop is already going up and up, as the Chancellor will have heard from shoppers in Bury last week. Does he have any idea of how much the average weekly supermarket shop is expected to increase in the next year for a typical family?

Let me help the Chancellor with the answer to that question. The typical family shop is likely to go up by £180 more next year. It is not just food prices that are rising: gas and electricity bills are already up by £139 and they are only going to go up more. The Chancellor had the opportunity in the Budget to help people with their gas and electricity bills by reducing VAT to 0% through the winter months—something that Labour has called for and that the Prime Minister backed when he was campaigning to leave the European Union. Who should the public blame for VAT on heating bills not being cut: the Prime Minister, for not keeping his word, or the Chancellor, for choosing to cut taxes for bankers instead?

Let me help the Chancellor with the answer to that question. The typical family shop is likely to go up by £180 more next year. It is not just food prices that are rising: gas and electricity bills are already up by £139 and they are only going to go up more. The Chancellor had the opportunity in the Budget to help people with their gas and electricity bills by reducing VAT to 0% through the winter months—something that Labour has called for and that the Prime Minister backed when he was campaigning to leave the European Union. Who should the public blame for VAT on heating bills not being cut: the Prime Minister, for not keeping his word, or the Chancellor, for choosing to cut taxes for bankers instead?

To ask the Minister for the Cabinet Office what assessment he has made of the likely effect on (a) CPI and (b) RPI inflation of the measures in Budget 2012 relating to the imposition of VAT.

[107990]

To ask the Minister for the Cabinet Office what assessment he has made of the likely effect on (a) CPI and (b) RPI inflation of the measures in Budget 2012 relating to the imposition of VAT.

[107990]

To ask the Chancellor of the Exchequer what recent assessment he has made of the effect of inflation on the annuities market.

To ask the Chancellor of the Exchequer what recent assessment he has made of the effect of inflation on the annuities market.

To ask the Secretary of State for Work and Pensions what recent assessment he has made of the effect of inflation on pensioner poverty.

To ask the Secretary of State for Work and Pensions what recent assessment he has made of the effect of inflation on pensioner poverty.

To ask the Secretary of State for Work and Pensions whether his Department has estimated the average rate of inflation experienced by pensioner households.

To ask the Secretary of State for Work and Pensions whether his Department has estimated the average rate of inflation experienced by pensioner households.

To ask the Chancellor of the Exchequer what progress he has made in working with the Bank of England to investigate how housing costs may be included in the consumer prices index as set out in the coalition agreement.

To ask the Chancellor of the Exchequer what progress he has made in working with the Bank of England to investigate how housing costs may be included in the consumer prices index as set out in the coalition agreement.