By the time this column has been printed the Chancellor will have presented his Autumn Statement to Parliament. I am sure Jeremy Hunt’s plans will disappoint some people; however, he has promised that the most vulnerable will be protected.
We are recovering from the pandemic while dealing with the consequences of Russia’s war in Ukraine. Huge increases in food and energy costs are driving the global inflation surge, which has seen the UK economy contract by 0.2% in the third quarter. The Government cannot control what is happening in the rest of the world, but it can make decisions in the interests of the UK, and our economic stability.
Nobody wants to see spending cuts and tax rises, and as a Conservative MP for a constituency with some of the worst levels of deprivation in the country, I find this very hard. However, I know that the Government must take urgent action to ease our fiscal problems, whilst getting us back on track to grow our economy healthily. What is crucial is that the Autumn Statement provides protection to our most vulnerable.
We have already seen huge support for households and businesses through the Energy Price Guarantee and the Energy Bill Relief Scheme, respectively, which have discounted the unit cost for gas and electricity use until April. The £400 Energy Bills Support Scheme and the £650 one-off Cost of Living Payment for those on means tested benefits have further protected households from cost-of-living pressures. However, I recognise that many more people need protecting.
I recently visited the Citizen’s Advice offices in St Leonards, who are doing a fantastic job in helping people by giving referrals to food banks and providing energy advice. People should not have to rely on food banks in this country, but it is a reality for many as inflationary pressures take their toll on people’s spending capabilities. It is for this reason that I hope benefits and the state pension will be uprated in line with inflation.
These are testing times and difficult decisions will be made to get us through this period of uncertainty. I know that the Government is resolved to help us in a compassionate manner - not leaving behind those who need help the most. We have been through challenging times before and we know that storms never last forever.