Oliver Heald – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Oliver Heald on 2015-02-09.

To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 2 February 2015 to Question 222161, what estimate he has made of the extent of the increase in UK GDP provided by falling oil prices.

Priti Patel

As noted in the answer given to the Honorable Member on 2 February 2015, falling oil prices will provide a further boost to the UK’s GDP, which in 2014 grew faster than any other major advanced economy. Cheaper oil and low inflation will support living standards across the country for hardworking families and reduce business costs.