Extract from Lords
debate on the Spring Statement
(LD):...Oil and gas
companies are awash with money but are not investing large
amounts of it; the noble Lord, , has described the profits of
some of these major companies. I was stunned to see
that Shell has
announced £8.5 billion in share buybacks this year; it just
cannot find a place to invest it. BP expects £6 billion in share
buybacks and hopes the market will be willing to take more. The
Treasury, which last October forecast £8 billion in increased
revenues from fiscal drag—basically coming from the freezing of
tax thresholds—now expects that drag to deliver over £21 billion.
The noble Lord, , was saying that over five
years it will be £35 billion pounds, a huge figure. Fuel
inflation will give the Government an extra unexpected £2.5
billion even after the cut in fuel duty, so this year alone, when
you put all the pieces together, the Chancellor found himself
with an unexpected extra £26 billion in tax revenues...
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Extract from Business
Questions (Commons)
(Aberdeen North)
(SNP): Energy prices are going to skyrocket overnight, so
today is meter reading day. and Which? have both been
encouraging people to submit meter readings today. It turns out
that the websites of E.ON, EDF, Scottish Power, Shell
British Gas, SSE, Octopus Energy, Sainsbury’s Energy and Bulb are
crumbling under the pressure of trying to deal with all these
meter reading submissions. Will the Leader of the House join me
in encouraging people who cannot submit their meter readings
today to ensure they have an accurate record of their meter
reading by taking a photo of it or attempting to email it to
their provider, so that when the prices go up tomorrow, they are
charged the correct rate up until today?
Leader of the Commons (): The hon. Lady should be
commended for what is a very good idea. I support her suggestion
and I think it is worthy of publicity. I encourage all Members
from across the House to highlight it on their social media
platforms, and I encourage people in those circumstances to do as
she suggests. I think it is a very good idea, and she should be
commended for it.
