Cost of Living — Supports the Government — 9 Jul 2008 at 16:20

The majority of MPs voted to accept the motion, which read:^[1]

• This House
• notes that the Governor of the Bank of England's letter of 16th June 2008 to the Chancellor of the Exchequer said that 1.1 per cent. of the 1.2 per cent. increase in recent months in inflation was due to global energy and food prices;
• further notes the Government's global leadership and supports the Government's action to tackle price rises with action on an international level, including pushing for a successful conclusion to the Doha round of negotiations in the World Trade Organisation and examining the impact of biofuels on food production;
• acknowledges the significant increases in world prices, with the oil price rising by 80 per cent. and food prices up by 60 per cent. in the 12 months to May 2008;
• recognises that these increases in global prices affect every country and put real pressure on family budgets throughout the UK;
• further acknowledges that the measures that the Government has taken and will continue to take to support families, individuals and businesses throughout the UK include extra tax credits, increased tax allowances, further winter fuel payments and increases in child benefit;
• considers that a strong and stable economy delivers the most important support for working families; and
• supports the Government's actions that have delivered unemployment, inflation and interest rates all at historically low levels.

This followed the rejection of a previous motion.^[2]

• [1] Motion made, House of commons, 9 July 2008
• [2] Cost of Living - Calls for a review of mechanisms - rejected, House of Commons Division, 9 July 2008

Debate in Parliament | Source |