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Between March 2021 and April 2023, the cost of first infant formula increased by 24%, on average, with the cheapest formula on the market increasing by 45%. That is an absolute catastrophe for families who rely on infant formula, but a bonanza for the formula companies, which are making significant profits out of this. Can the Chancellor tell me why he believes it is right for companies to profit while families struggle to feed their babies?
Between March 2021 and April 2023, the cost of first infant formula increased by 24%, on average, with the cheapest formula on the market increasing by 45%. That is an absolute catastrophe for families who rely on infant formula, but a bonanza for the formula companies, which are making significant profits out of this. Can the Chancellor tell me why he believes it is right for companies to profit while families struggle to feed their babies?
The hon. Lady is absolutely right to draw attention to the pressures on families caused by very high food inflation in a number of areas, but I can tell her that the Competition and Markets Authority, which undertook a review of the groceries sector earlier
this year, has not yet found evidence that high food price inflation is being driven by weak competition. But it is continuing its review and looking at the supply chain, and we will wait to hear what it says.
What recent assessment he has made of the implications for his policies of trends in the level of food inflation.
What recent assessment he has made of the implications for his policies of trends in the level of food inflation.
UK food inflation has been driven largely by global factors and has already fallen from 19.6% to 12.3%, and external forecasts expect it to continue to fall.
The mortgage crisis is not the only crisis over which this Government are presiding. According to StepChange Debt Charity, 45% of mortgage holders—some 7 million—are now struggling to keep up with all their other bills following the rise in interest rates. What conversations is the Chancellor having with companies providing...
The mortgage crisis is not the only crisis over which this Government are presiding. According to StepChange Debt Charity, 45% of mortgage holders—some 7 million—are now struggling to keep up with all their other bills following the rise in interest rates. What conversations is the Chancellor having with companies providing...
Food price inflation stood at 19.2% in March, up from February. That is causing severe problems for many in my constituency, particularly those who have no recourse to public funds status, meaning that they are not entitled to any support from the Government whatsoever. What will the Minister do to help those people, who are struggling and heading for the food banks because they cannot afford to make ends meet?
Food price inflation stood at 19.2% in March, up from February. That is causing severe problems for many in my constituency, particularly those who have no recourse to public funds status, meaning that they are not entitled to any support from the Government whatsoever. What will the Minister do to help those people, who are struggling and heading for the food banks because they cannot afford to make ends meet?
In the interest of time, I will not repeat for the hon. Lady the support for households, which averages £3,500 across the United Kingdom. If she has constituents with particular needs, the Government have recently extended the £1 billion household support fund and I suggests she works with her local authority to try to meet their needs through that.
The Minister talks about other countries, but the reason why things are so bad in the UK is squarely down to the impact that Brexit is having on the economy—a Brexit that Scotland did not vote for. Can he tell me how piling austerity on top of the austerity that...
The Minister talks about other countries, but the reason why things are so bad in the UK is squarely down to the impact that Brexit is having on the economy—a Brexit that Scotland did not vote for. Can he tell me how piling austerity on top of the austerity that...
That this House notes reports in the Sunday Times suggesting that, at a time of an acute cost-of-living crisis for households and food inflation running at over 14 per cent, UK supermarkets are set to announce higher-than-anticipated profits; further notes reports that Tesco alone will forecast increased operating profits of nearly £2.5 billion, significantly above its five-yearly average; shares the reported fears of industry insiders that the supermarket giants are benefitting from so-called rocket and feather pricing, where prices rise sharply in response to an inflationary spike, only to remain persistently higher than necessary as the rate of inflation falls; is scandalised that corporate shareholders are making excessive profits while more and more households are forced to use foodbanks; is concerned that, despite these rocketing profits, large retailers in the food and drink sector continue to place undue commercial pressures on their suppliers, leading to a further squeeze on the terms and conditions of workers across the food sector and more suppliers closing sites or going into administration; further notes that food workers, like other low-paid groups in society, are disproportionately impacted by the relentless increase in grocery prices; agrees with the Bakers, Food and Allied Workers union in calling for urgent regulatory action to tackle the plague of excessive corporate profiteering by UK supermarkets; and urges the Government to introduce a statutory Right to Food for everyone in the country.
That this House notes reports in the Sunday Times suggesting that, at a time of an acute cost-of-living crisis for households and food inflation running at over 14 per cent, UK supermarkets are set to announce higher-than-anticipated profits; further notes reports that Tesco alone will forecast increased operating profits of...
I am glad that the Minister is monitoring food prices, but does he monitor the cost of infant formula? The all-party parliamentary group on infant feeding and inequalities has been doing so, and many groups are concerned that the cost of formula is now outpacing the amount of money that...
I am glad that the Minister is monitoring food prices, but does he monitor the cost of infant formula? The all-party parliamentary group on infant feeding and inequalities has been doing so, and many groups are concerned that the cost of formula is now outpacing the amount of money that...
It is a pleasure to follow the hon. Member for Amber Valley (Nigel Mills), who gave a characteristically thoughtful speech. How strange it is that we agree on so many things in this debate, and yet on so few other things. It would be nice if those on the Government...
It is a pleasure to follow the hon. Member for Amber Valley (Nigel Mills), who gave a characteristically thoughtful speech. How strange it is that we agree on so many things in this debate, and yet on so few other things. It would be nice if those on the Government...
The current Chancellor comes here today as the seventh Chancellor in seven years, and a mere 55 days after the last Chancellor came to this House to present his chaotic mini-Budget. His predecessor managed to crash the economy in 26 minutes; this Chancellor has spent the past 53 minutes trying...
The current Chancellor comes here today as the seventh Chancellor in seven years, and a mere 55 days after the last Chancellor came to this House to present his chaotic mini-Budget. His predecessor managed to crash the economy in 26 minutes; this Chancellor has spent the past 53 minutes trying...
It is a pleasure to see you in the Chair, Ms Ali. I am grateful to the hon. Member for Leeds North East (Fabian Hamilton) for introducing this important debate. When we talk about the cost of living crisis, the impact on young people and children often gets missed. They...
It is a pleasure to see you in the Chair, Ms Ali. I am grateful to the hon. Member for Leeds North East (Fabian Hamilton) for introducing this important debate. When we talk about the cost of living crisis, the impact on young people and children often gets missed. They...
rose—
rose—
Can the Minister explain why people of a younger age are not worth the same as someone older?
Can the Minister explain why people of a younger age are not worth the same as someone older?
That this House calls for benefits to be uprated in line with inflation as a means of mitigating the impact of the cost of living crisis on households in the UK; understands the additional burdens that the cost of living crisis is placing upon low income households; expresses its concern that according to the Joseph Rowntree Foundation, two in three people in Scotland are having to cut down on essentials to survive the crisis; and recognises that without uprating benefits in line with inflation we are at risk of creating a poverty emergency in the UK.
That this House calls for benefits to be uprated in line with inflation as a means of mitigating the impact of the cost of living crisis on households in the UK; understands the additional burdens that the cost of living crisis is placing upon low income households; expresses its concern...
Both Labour and the Tories are Brexit parties now—a Brexit that Scotland did not vote for and wants nothing of. This year, the Scottish Government have faced more than a 5% real-terms cut in resource funding compared with last year’s Budget, and the spending review took place when inflation was at only 3.1%. It has now tripled and continues to rise. That increase will impact on Scotland’s recovery from the pandemic and place severe pressures on public services and public sector wages. Will the Chancellor increase funding to the devolved Governments in recognition of this record inflation over which he presides?
Both Labour and the Tories are Brexit parties now—a Brexit that Scotland did not vote for and wants nothing of. This year, the Scottish Government have faced more than a 5% real-terms cut in resource funding compared with last year’s Budget, and the spending review took place when inflation was at only 3.1%. It has now tripled and continues to rise. That increase will impact on Scotland’s recovery from the pandemic and place severe pressures on public services and public sector wages. Will the Chancellor increase funding to the devolved Governments in recognition of this record inflation over which he presides?
I am so pleased to have a chance to answer Treasury orals for the first time since we saw the Scottish Government’s spending review, which was a couple weeks ago. It was interesting to read through that, because in spite of the largest increase in public spending in the United Kingdom for some decades—record increases in public spending—it is clear that the Scottish Government are now imposing austerity in local government, in education, in justice, and in the environment. All budgets are growing slower than inflation, and that is not happening elsewhere in the United Kingdom. The health budget, the people’s No. 1 priority, is now growing in England two or three times faster than it is in Scotland. Scotland is not passing on the income tax cut. We might ask: why is this? Why are these choices being made? It is because, in Scotland, the welfare budget is being increased by 50%. That is why.
The Chancellor knows fine well that the Scottish Parliament, along with the other devolved Administrations, operates on a fixed budget. We do not have the levers that he has to increase budgets, yet we operate on that incredibly well. [Interruption.] We have a balanced budget in Scotland every year, which says a lot about the Scottish Government than his Government.
Inflation is a global problem, but individual Governments can make it easier for people to make ends meet. Ireland, for example, has cut public transport fares to allow people to save money on ticket and petrol prices, while those have soared under this Chancellor’s Administration. That is an independent country using
its powers to ease the burden on commuters. The Scottish Government have already made bus travel free for under-22s, but we are at the limits of what we can do, because of that fixed budget and because of those real-term cuts to the block grant. If the Chancellor will not provide more money to the Scottish Government, will he give us the full powers so that we can do that?
The Chancellor knows fine well that the Scottish Parliament, along with the other devolved Administrations, operates on a fixed budget. We do not have the levers that he has to increase budgets, yet we operate on that incredibly well. [Interruption.] We have a balanced budget in Scotland every year, which says a lot about the Scottish Government than his Government.
Inflation is a global problem, but individual Governments can make it easier for people to make ends meet. Ireland, for example, has cut public transport fares to allow people to save money on ticket and petrol prices, while those have soared under this Chancellor’s Administration. That is an independent country using
its powers to ease the burden on commuters. The Scottish Government have already made bus travel free for under-22s, but we are at the limits of what we can do, because of that fixed budget and because of those real-term cuts to the block grant. If the Chancellor will not provide more money to the Scottish Government, will he give us the full powers so that we can do that?
We all have to operate with fixed budgets—that is news to the hon. Lady—but there have been record Barnett settlements for Scotland of £4.5 billion a year. Beneath that, however, are the choices that Governments make. On the Conservative side of the House, we choose to support the NHS and public services; in Scotland, they are choosing to impose austerity on public services. That is the difference between us and the SNP.
Today is National Numeracy Day and there will be a lot of figures flying about this afternoon. It often makes me think that it would be helpful in this place if we were
allowed to do as they do in the US Senate and have great big charts we can...
Today is National Numeracy Day and there will be a lot of figures flying about this afternoon. It often makes me think that it would be helpful in this place if we were
allowed to do as they do in the US Senate and have great big charts we can...
This tax plan that the Chancellor has announced is very thin. It is lightweight and it is superficial. It is exactly what we have come to expect from this Chancellor. What we heard today from the Chancellor was not enough. It was utterly detached from the needs of our constituents...
This tax plan that the Chancellor has announced is very thin. It is lightweight and it is superficial. It is exactly what we have come to expect from this Chancellor. What we heard today from the Chancellor was not enough. It was utterly detached from the needs of our constituents...
On a point of order, Madam Deputy Speaker. I want to use this opportunity to allow the Chancellor to hear a clarification. He suggested that the Scottish Government might want to follow the UK Government in eventually introducing a 19% rate of income tax. Would it be possible to get...
On a point of order, Madam Deputy Speaker. I want to use this opportunity to allow the Chancellor to hear a clarification. He suggested that the Scottish Government might want to follow the UK Government in eventually introducing a 19% rate of income tax. Would it be possible to get...
Inflation is running at 5.4%, the highest level in nearly 30 years. It is already having a real and painful impact on people and businesses, with worrying reports today that increased bills are pushing businesses to lay off staff. The upcoming national insurance hike is a tax on jobs as well as on individuals. This is a cost of living crisis, yet today is the first time that the Chancellor has been to this House since the start of December, and we still do not hear a plan from him—he is too distracted by plotting for the Prime Minister’s job to help those affected by this crisis. People are struggling, so what additional practical financial support can they expect from this Chancellor, and when?
Inflation is running at 5.4%, the highest level in nearly 30 years. It is already having a real and painful impact on people and businesses, with worrying reports today that increased bills are pushing businesses to lay off staff. The upcoming national insurance hike is a tax on jobs as well as on individuals. This is a cost of living crisis, yet today is the first time that the Chancellor has been to this House since the start of December, and we still do not hear a plan from him—he is too distracted by plotting for the Prime Minister’s job to help those affected by this crisis. People are struggling, so what additional practical financial support can they expect from this Chancellor, and when?
The hon. Lady talked about inflation; she is right and I am very cognisant of the anxiety that people are feeling about rising inflation. It is also right to put that in context. She said it is the highest tier since the early 1990s, and that is right. We are also seeing this as a global phenomenon—inflation in the US is running at its highest since the 1980s, and the highest since the eurozone was created—so we are not alone in facing those challenges. The Government have already set out a plan, but it is a plan that is working. In contrast to what she said about people losing their jobs, what we have seen is 11 months of falling unemployment, which is now back to the almost record pre-pandemic lows, and record numbers of people in work. That is the best way to tackle the cost of living—get people into work and make sure those jobs are well paid.
We have heard in this debate heartbreaking stories of constituents who are facing real and enduring hardship; of the choices that people are already making in the face of the poverty that they endure; and of the impact of the cost of living crisis on those we represent. The crisis...
We have heard in this debate heartbreaking stories of constituents who are facing real and enduring hardship; of the choices that people are already making in the face of the poverty that they endure; and of the impact of the cost of living crisis on those we represent. The crisis...