Oral Answers to Questions

Derek Thomas Excerpts

Tuesday 1st February 2022 Commons Chamber

[Paul Blomfield (Sheffield Central) (Lab)]

8. What fiscal steps he plans to take to help reduce the impact on households of the rise in the cost of living.

[Derek Thomas (St Ives) (Con)]

17. What steps he is taking to help people with the increasing cost of living.

[Lloyd Russell-Moyle (Brighton, Kemptown) (Lab/Co-op)]

18. What fiscal steps he plans to take to help reduce the impact on households of the rise in the cost of living.

--- Later in debate ---

[Rishi Sunak]

Although I do not know the specific circumstances of the hon. Gentleman’s constituent, it sounds like she will benefit from two measures that we have already announced: the significant increase in the national living wage by 6.6% in April; and the cut in the universal credit taper rate, which will mean that a single mother working full time on the national living wage will be an extra £1,200 better off. That will help significantly with energy and other bills, and of course the warm home discount provides a £140 rebate to those who need it.

[Derek Thomas]

I have met a number of pensioners in my constituency who are on the state pension, but who also worked hard and saved for a private pension; not a huge pension, but a pension that they believed would help them meet the cost of living. Unfortunately, years of low interest rates and now the rising cost of energy, food and other things have made them begin to worry and they are very concerned about the year ahead. Can the Chancellor provide more information on how he will monitor the situation, and support the families and pensioners whom we encouraged to get private pensions but now find that they cannot meet the cost of living?

[Rishi Sunak]

My hon. Friend is absolutely right to highlight pensioners and their needs. As I said, I am proud of the Government’s track record in supporting them. I can also provide him with the reassurance that we continue to look at the best way to provide support to all those in need, as we have done over the last year of two. In the meantime, he will be reassured to know that we have protected pensioners this coming year with the double lock and, as I said, the winter fuel payments providing up to £300.