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Written Question
Pensioners: Income
Wednesday 16th October 2024

Asked by: Gareth Davies (Conservative - Grantham and Bourne)

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, with reference to her oral contribution to the debate on Social Security of 10 September 2024, Official Report, column 735, whether her estimate that pensioners will be £1,700 better off by the end of this Parliament includes tax payable on that income.

Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs

Through this Government’s commitment to the Triple Lock, the full yearly rate of the new State Pension is forecast to increase by around £1,700 by the end of this Parliament. This estimate accounts for potential income tax payable on the full new State Pension income alone, based on current legislation. Where people have other income, income tax may be payable, as has always been the case.

The Personal Allowance threshold is £12,570 per annum and frozen until 2027/28 then assumed to be uprated by CPI till the end of parliament (29/30). The new State Pension is £11,542 per annum and assumed to be uprated by Triple lock till the end of parliament. Economic assumptions for CPI and Triple Lock are consistent with OBR’s Spring Budget 2024 forecasts. OBR’s Spring Budget 2024 economic assumption forecasts are found here: Detailed_forecast_tables_Economy_March_2024.xlsx (live.com)

Written Question
Pension Credit: Take-up
Tuesday 15th October 2024

Asked by: Gareth Davies (Conservative - Grantham and Bourne)

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what estimate her Department has made of the proportion of people who are eligible for Pension Credit who will take up that benefit in the next 12 months.

Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs

No such estimate has been made.

Speech in Commons Chamber - Mon 31 Oct 2022
Oral Answers to Questions

"Last week we celebrated the 10th anniversary of automatic pension enrolment. This is, genuinely, an amazing cross-party policy achievement which has transformed the saving culture across our country. As we look back on that success, will the Ministers consider expanding the system to 18-to-22-year-olds?..."
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Speech in Westminster Hall - Wed 15 Jun 2022
Universal Basic Income

"I congratulate the hon. Lady on securing the debate and giving a considered and well thought-out speech. Will she clarify that point on expense? The cost of this programme, even if it were rolled out using a modest income, would be around £316 billion annually, according to one study. Can …..."
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Speech in Westminster Hall - Wed 15 Jun 2022
Universal Basic Income

"It is a pleasure to serve under your chairmanship, Ms McVey. I congratulate the hon. Member for Lanark and Hamilton East (Angela Crawley) and every Member here. I welcome any debate about moving our economy forward and helping the most vulnerable in society. However, I am afraid, although it may …..."
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Speech in Westminster Hall - Wed 15 Jun 2022
Universal Basic Income

"I am not sure what the argument of the Welsh Government or the Liberal Democrats is, but I am happy to hear it...."
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Speech in Westminster Hall - Wed 15 Jun 2022
Universal Basic Income

"It is beyond the bounds of my intellect to debate what “universal” means. I take it to mean, “being received by everyone.” It could be up to people to give it back, but as we have seen in recent policies, that does not always happen...."
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Speech in Westminster Hall - Wed 15 Jun 2022
Universal Basic Income

"The hon. Member for Lanark and Hamilton East (Angela Crawley), who introduced the debate, made the point that the Conservatives recently implemented a universal policy. She will be aware, as will the hon. Member for Arfon (Hywel Williams), that in exceptional circumstances—be it the first pandemic in over 100 years, …..."
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Speech in Westminster Hall - Wed 15 Jun 2022
Universal Basic Income

"I will make some progress, if that is all right; I am sure that colleagues will disagree with other points that I make. That was my first point, about cost.

My second point is that a universal basic income could exacerbate, not alleviate, inequality. Under a universal system, everybody would …..."
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Speech in Westminster Hall - Wed 15 Jun 2022
Universal Basic Income

"It will shock the hon. Lady to hear that I do not agree. We are going a little off-course, but on a wealth tax, a lot of people invest in our country, and a lot of people start from nothing and go on to achieve great things. I do not …..."
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