HM Opposition Day: The Economy

HM Opposition used the Opposition Day Debate on 19 October 2022 to put forward a motion criticising the Government’s mini budget. I voted to support the motion, which was passed, Ayes: 223, Noes: 0.

The text of the motion:

“That this House regrets the long-term damage to the economy as a direct result of the mini budget, where mortgage rates for households have risen and the stability of pension funds has come under threat; notes that despite substantial U-turns in policy since the mini budget, the Government’s funding position has deteriorated, the cost of borrowing is expected to be higher for many years and the UK’s fiscal credibility has been undermined, all while many energy producers continue to make record windfall profits; therefore calls on the Government to take all necessary steps to stabilise the economy and make it work for ordinary working people and business through a plan for growth that puts them at its heart; and further calls on the Government to publish the Office for Budget Responsibility forecasts immediately alongside Government estimates of windfall profits for the next two years from energy producers in the UK.

The Government did not bother to vote.