MP for Spelthorne
I can confirm that this year’s 1.25% point rise in National Insurance will be reversed on 6th November. Its replacement - the Health and Social Care Levy planned for April 23 - will be cancelled. A tax cut for workers. More cash for businesses to invest, employ and grow.
Today, we’re stepping in to protect businesses, charities and public sector organisations from record high gas prices. Just as we’re doing for consumers, this new scheme will keep energy bills down from October to provide additional peace of mind.
We have to act in the short-term to support households and businesses through the energy shock - just as we did during the pandemic. The UK has the second lowest ratio of public debt to GDP in the G7. We are committed to getting debt to GDP down over the medium-term.
From today, we are limiting the amount suppliers can charge for gas and electricity. Remember: we were heading for £6,500 annual energy bills next year. Now, we are holding bills down at an annual average of £2,500 - and keeping the £400 discount.
NEW – the UK will phase out the import of Russian oil and oil products by the end of 2022. This transition will give the market, businesses and supply chains more than enough time to replace Russian imports – which make up 8% of UK demand. (1/4)
Today we changed the law to allow businesses impacted by strike action to hire skilled, temporary workers to mitigate disruption. This was a criminal offence. Now it’s an option for business. We will not let trade unions grind our economy to a halt. 👉🏾
My message to XR activists gluing themselves (?!) to my Department: You cannot - and we won’t - switch off domestic oil and gas production. Doing so would put energy security, jobs and industries at risk - and would simply increase foreign imports, not reduce demand.