Ben Lake
Main Page: Ben Lake (Plaid Cymru - Ceredigion Preseli)Department Debates - View all Ben Lake's debates with the HM Treasury
(2 years, 7 months ago)
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Lucy Frazer
The Chancellor set out at the spring statement that he would be cutting taxes. We have seen that already in the universal credit taper rate and in the increase in the national insurance contributions threshold to £12,570, which will come in just a few weeks. We have also seen the announcement that income taxes will be cut in 2024.
Ben Lake (Ceredigion) (PC)
Small businesses in Ceredigion have told me how increasing electricity and fuel costs are having a direct impact on their operating costs in addition to an indirect impact in reduced demand for their goods and services. They are concerned that those costs are being disproportionately felt in rural areas. Does the Treasury share that assessment? Will it consider bringing forward bespoke measures to support the rural economy?
Helen Whately
The hon. Member and I met recently to speak about the cost of fuel in rural areas. As I also represent a rural constituency, I appreciate his point. As he knows, the cut that we made to fuel duty is benefiting people in rural areas as well as those across the whole country. That, combined with the duty freeze, is £5 billion-worth of help for people. As we have discussed today, we are also providing targeted support to people: in particular, there is the £1,200 for 8 million households on benefits to help with the rising cost of living.