Budget debate (second day). Motion that income tax is charged for the tax year 2026-27. Debate adjourned, to be resumed on 1 December.

Budget debate (second day). Motion that income tax is charged for the tax year 2026-27. Debate adjourned, to be resumed on 1 December.

It is a pleasure to open today’s debate on behalf of the Government, and to respond to the shadow Chancellor. He went through his lines and, as I expected, he talked a fair bit about welfare. If only he had ever been in a position to do something about it....

It is a pleasure to open today’s debate on behalf of the Government, and to respond to the shadow Chancellor. He went through his lines and, as I expected, he talked a fair bit about welfare. If only he had ever been in a position to do something about it....

The hon. Gentleman should be supporting our changes because they have done two things: they are removing a number of luxury brands from the system and they are ensuring that more British-made cars are part of the scheme, and that will continue going forward.

By the end of the decade, we...

The hon. Gentleman should be supporting our changes because they have done two things: they are removing a number of luxury brands from the system and they are ensuring that more British-made cars are part of the scheme, and that will continue going forward.

By the end of the decade, we...

I note the right hon. Gentleman’s request for more public expenditure and I am coming on to the growth and skills levy in a moment. What we will do with that is tilt it more towards young people and towards more short courses, and this Budget puts a further £725...

I note the right hon. Gentleman’s request for more public expenditure and I am coming on to the growth and skills levy in a moment. What we will do with that is tilt it more towards young people and towards more short courses, and this Budget puts a further £725...

I thank the Chief Secretary to the Treasury for the advance copy of his statement. Let me begin by praising the efforts of our NHS staff, teachers, police officers and members of the armed forces. The nurse who looks after someone when they are ill, the teacher who opens up...

I thank the Chief Secretary to the Treasury for the advance copy of his statement. Let me begin by praising the efforts of our NHS staff, teachers, police officers and members of the armed forces. The nurse who looks after someone when they are ill, the teacher who opens up...

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...

I thank everyone who has contributed to this afternoon’s debate. I cannot help noticing that the vast majority of them are Opposition Members, so I thank my hon. Friends the Members for Halton (Derek Twigg), for Bootle (Peter Dowd), for Bradford West (Naz Shah), for Harrow West (Gareth Thomas), for...

I thank everyone who has contributed to this afternoon’s debate. I cannot help noticing that the vast majority of them are Opposition Members, so I thank my hon. Friends the Members for Halton (Derek Twigg), for Bootle (Peter Dowd), for Bradford West (Naz Shah), for Harrow West (Gareth Thomas), for...

We are not going to join the chorus of Government Members attacking the Bank of England. I thought the hon. Gentleman was rising to raise the issue of the 15,000 households in his constituency that are facing an increase in mortgage payments of more than £3,000 a year.

We all wanted...

We are not going to join the chorus of Government Members attacking the Bank of England. I thought the hon. Gentleman was rising to raise the issue of the 15,000 households in his constituency that are facing an increase in mortgage payments of more than £3,000 a year.

We all wanted...

Urgent question on what assessment the Government have made of developments in the mortgage market in recent days.

Urgent question on what assessment the Government have made of developments in the mortgage market in recent days.

(Urgent Question): To ask the Chancellor of the Exchequer what assessment he has made of developments in the mortgage market in recent days.

(Urgent Question): To ask the Chancellor of the Exchequer what assessment he has made of developments in the mortgage market in recent days.

The UK’s homeowners are under increasing financial stress, with two-year fixed rates at 5.86%—up by over 0.5% in just a month—products being withdrawn, and the Resolution Foundation saying that the average mortgage holder is facing an increase in payments of £2,300 this year. This is not just about homeowners; it...

The UK’s homeowners are under increasing financial stress, with two-year fixed rates at 5.86%—up by over 0.5% in just a month—products being withdrawn, and the Resolution Foundation saying that the average mortgage holder is facing an increase in payments of £2,300 this year. This is not just about homeowners; it...

Following the recent levelling-up round 2 announcements, in which all five bids from Birmingham were refused, as were both bids from the great city of Wolverhampton,

but, miraculously, the one from the Prime Minister’s constituency was approved, the Conservative Mayor of the West Midlands Combined Authority, Andy Street, said:

“Fundamentally this episode is just another example as to why Whitehall’s bidding and begging bowl culture is broken”.

What is the Chief Secretary’s response to the Conservative Mayor’s comments?

Following the recent levelling-up round 2 announcements, in which all five bids from Birmingham were refused, as were both bids from the great city of Wolverhampton,

but, miraculously, the one from the Prime Minister’s constituency was approved, the Conservative Mayor of the West Midlands Combined Authority, Andy Street, said:

“Fundamentally this episode is just another example as to why Whitehall’s bidding and begging bowl culture is broken”.

What is the Chief Secretary’s response to the Conservative Mayor’s comments?

Right now in the United States, job opportunities and investments throughout the country are being driven by the Inflation Reduction Act. The European Union is responding with an incentive package of its own. But the new Energy Secretary describes both those policies as “dangerous”. Does the Chief Secretary agree that the Inflation Reduction Act is dangerous? Or does he think that the UK needs a response that makes sure that we do not lose out on the green transition and that we, too, need a Government who want to see investment and jobs from the green transition in every part of the UK?

Right now in the United States, job opportunities and investments throughout the country are being driven by the Inflation Reduction Act. The European Union is responding with an incentive package of its own. But the new Energy Secretary describes both those policies as “dangerous”. Does the Chief Secretary agree that the Inflation Reduction Act is dangerous? Or does he think that the UK needs a response that makes sure that we do not lose out on the green transition and that we, too, need a Government who want to see investment and jobs from the green transition in every part of the UK?

Motion, That the Charter for Budget Responsibility: Autumn 2022 update, which was laid before this House on 26 January, be approved. Agreed to on question

Motion, That the Charter for Budget Responsibility: Autumn 2022 update, which was laid before this House on 26 January, be approved. Agreed to on question

May I begin by echoing the Chief Secretary’s condolences to the family of Robert Key, his predecessor as MP for Salisbury?

It does feel like this is the time of the year when we have the annual George Osborne tribute debate. This exercise began in his period as Chancellor, but little...

May I begin by echoing the Chief Secretary’s condolences to the family of Robert Key, his predecessor as MP for Salisbury?

It does feel like this is the time of the year when we have the annual George Osborne tribute debate. This exercise began in his period as Chancellor, but little...

I am happy to—I thought mention of the IMF might bring the right hon. Gentleman to his feet.

I am happy to—I thought mention of the IMF might bring the right hon. Gentleman to his feet.

I suspect that the Bank of England will not be the only institution attacked by the right hon. Gentleman tonight, but I remind him that part of the purpose of the charter is to restore our faith in the economic institutions, after what happened less than six months ago.

The IMF...

I suspect that the Bank of England will not be the only institution attacked by the right hon. Gentleman tonight, but I remind him that part of the purpose of the charter is to restore our faith in the economic institutions, after what happened less than six months ago.

The IMF...

Budget debate (second day). Ways and means resolution. Motion that (a) provision may be made increasing the rate at which energy (oil and gas) profits levy is charged to 35%, (b) provision may be made reducing the percentage in section 2(3) of the Energy (Oil and Gas) Profits Levy Act 2022 (amount of additional investment expenditure) to 29%, and (c) (notwithstanding anything to the contrary in the practice of the House relating to the matters that may be included in Finance Bills) provision may be made for and in connection with extending the period for which the levy has effect until 31 March 2028. Agreed to on question.

Budget debate (second day). Ways and means resolution. Motion that (a) provision may be made increasing the rate at which energy (oil and gas) profits levy is charged to 35%, (b) provision may be made reducing the percentage in section 2(3) of the Energy (Oil and Gas) Profits Levy Act...

I am grateful for the opportunity to wind up on behalf of the Opposition. I welcome the new Minister to her place and wish her well. I also thank all right hon. and hon. Members who have contributed to the debate. We have heard many passionate speeches, appeals for different...

I am grateful for the opportunity to wind up on behalf of the Opposition. I welcome the new Minister to her place and wish her well. I also thank all right hon. and hon. Members who have contributed to the debate. We have heard many passionate speeches, appeals for different...

I will tell the hon. Member one thing about taxation: the burden is much higher under this Government than it was under the Government in which I served as a Minister. That mini-Budget was a mistake for which the country and the public will be paying for a long time....

I will tell the hon. Member one thing about taxation: the burden is much higher under this Government than it was under the Government in which I served as a Minister. That mini-Budget was a mistake for which the country and the public will be paying for a long time....