Yesterday’s economic figures showed the UK economy has rebounded back into growth. This builds on the recent positive news that not only has unemployment been falling, but we now have record numbers in work. Overall the government is making real strides forward in our main priority areas. The economy is healing; we’ve already cleared a quarter of the deficit left by Labour, and the private sector has created over one million new jobs. We’re capping benefits so no one can earn more on benefits than the average family does by going out to work. And we’re bringing back higher standards and discipline to our schools, so our children and our country can succeed.
On another matter, in Parliament this week we debated the Energy Market Reform Bill. With a number of energy suppliers announcing recent price hikes, it is essential we put the consumer first. Customers who switch suppliers can often save £200 on their annual bills, yet too few people do. Instead we are presented with a maze of complex tariffs and poor advice. A recent survey found that when suppliers were asked for information about the best tariff, they gave the wrong advice in nearly half of all cases. This is unacceptable. We will bring forward plans to limit the tariffs offered to one per payment type, making it easier to compare and switch.
Working with the money saving expert Martin Lewis, I would like to go further. We should build in ‘price locks’ so that customers who switch don’t suddenly find their new supplier puts up their prices. If you switch, they should honour that price for six months. Labour allowed the market to be dominated by the ‘Big Six’ suppliers, squeezing out the competition. We will force the suppliers to open up the market to new entrants which should lead to more competitive pricing. Labour also failed to build any new power stations, forcing us to rely increasingly on imported energy. We know world oil and gas prices will rise and global supplies cannot always be guaranteed. Therefore it’s a priority that we become self-sufficient in energy, and are also in a position to export energy for the benefit of our economy. Overall, we will take the decisive action needed to protect consumers.
Finally, huge congratulations to Swindon Robins who became the Speedway Elite League Champions for the first time in nearly half a century! Only five years ago, in my former role as the Abbey Meads ward Councillor, I stood shoulder to shoulder with Robins fans to help save the Abbey Stadium. The whole town rallied round to secure their future and this victory shows just why that was so important.