Rachel Reeves

Rachel Reeves

Labour — Leeds West and Pudsey

Speaking in the House of Commons on 21 April 2026

Debate

Middle East: Economic Update

Contribution

In Newbury, and indeed in all of our constituencies, people got £150 off their energy bills in April this year. There are very few countries in the world where energy bills fell in April; in most countries they are going up. That was possible only because of the measures I took in last year’s Budget. I have extended the 5p cut in fuel duty two times already since becoming Chancellor. Obviously, we are following very carefully what is happening in the middle east and looking at the impact on the UK economy, families and businesses, and we will be ready to respond. However, the best way to get bills and prices at the pump down is to de-escalate this conflict and reopen the strait of Hormuz. That is the policy of the hon. Gentleman’s party, and it is the policy of this Government, because that is the best way to help people with the costs of energy.

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