Household Finances

Treasury – in the House of Commons am ar 14 Tachwedd 2023.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Gareth Davies Gareth Davies The Exchequer Secretary

The Government continue to stand by households with one of Europe’s largest support packages, amounting to some £3,300 a household on average across 2022-23 and 2023-24.

Photo of Ben Lake Ben Lake Shadow PC Spokesperson (Treasury), Shadow PC Spokesperson (Environment, Food and Rural Affairs), Shadow PC Spokesperson (Education), Shadow PC Spokesperson (Digital, Culture, Media & Sport), Shadow PC Spokesperson (Health and Social Care), Shadow PC Spokesperson (Housing, Communities & Local Government), Shadow PC Spokesperson (The Constitution and Welsh Affairs)

The Minister will be aware that a big concern for rural constituencies is the cost of fuel. The RAC has found that the margin enjoyed by the big supermarkets on fuel sales in October was double the figure for the year to date at 14p per litre. That reflects concerns raised by the Competition and Markets Authority that although wholesale fuel prices fell in September and October, retail prices did not. What is the Treasury’s assessment of the impact that these higher margins will have on households in the coming winter?

Photo of Gareth Davies Gareth Davies The Exchequer Secretary

Fuel duty is a major cost for households and businesses. We recognise that. That is why in the spring Budget 2023, the Chancellor extended the 5p temporary duty cut. That was a £5 billion saving for motorists, worth £100 for the average motorist, but we always keep these things under review.