Asked by: Ian Lavery (Labour - Blyth and Ashington)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to help amend UN frameworks to tackle global debt.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
Tackling unsustainable debt in low-income countries is a key development priority for this government. We are working closely with partners to strengthen and speed up the G20 common framework, and to enhance debt transparency for debtor and creditors. We have set up the new London Coalition on Sustainable Sovereign Debt, to promote contractual innovations for increased resilience and to make restructurings quicker.
The government welcomes the package to support debt sustainability in the outcome document agreed at the UN’s Seville Conference on Financing for Development in June, specifically the strong action to improve debtor voice, debt transparency, disaster pause clauses and strengthen the G20 Common Framework. We will maintain momentum on reforms to the existing debt architecture. We are also engaging with partners on the intergovernmental process at the UN
Asked by: Ian Lavery (Labour - Blyth and Ashington)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to support global debt relief.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
Tackling unsustainable debt in low-income countries is a key development priority for this government. We are working closely with partners to strengthen and speed up the G20 common framework, and to enhance debt transparency for debtor and creditors. We have set up the new London Coalition on Sustainable Sovereign Debt, to promote contractual innovations for increased resilience and to make restructurings quicker.
The government welcomes the package to support debt sustainability in the outcome document agreed at the UN’s Seville Conference on Financing for Development in June, specifically the strong action to improve debtor voice, debt transparency, disaster pause clauses and strengthen the G20 Common Framework. We will maintain momentum on reforms to the existing debt architecture. We are also engaging with partners on the intergovernmental process at the UN
Asked by: Ian Lavery (Labour - Blyth and Ashington)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, for what reason is the Government abolishing the Retail Price Index by 2030.
Answered by Andrew Griffith - Shadow Secretary of State for Business and Trade
The decision over how to reform Retail Prices Index (RPI) was not one made by HM Treasury or the Government. It is a matter for the independent UK Statistics Authority (UKSA), whose role – as set out in legislation – is to promote and safeguard official statistics.
The UKSA has set out plans to reform RPI by bringing in the methods and data sources of the Consumer Prices Index including Owner Occupier Housing Costs (CPIH). This will happen from 2030.
The Government agrees with UKSA that RPI is a flawed measure of inflation, which at times overstates and at times understates changes in prices. RPI’s shortcomings are well-documented. In 2013, as a result of flaws in the way it is measured, RPI lost its status as a National Statistic.
Since 2010 the Government has been reducing its use of RPI and has committed to not introduce any new uses of RPI.
Asked by: Ian Lavery (Labour - Blyth and Ashington)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to support (a) care workers and (b) other workers in low paid sectors with the recent increase in the cost of fuel.
Answered by Helen Whately - Shadow Secretary of State for Work and Pensions
In recognition of high prices at the pump and the fact that fuel represents a major cost for households and businesses, the Chancellor announced at the Autumn Budget 2021 that fuel duty would remain frozen for a twelfth consecutive year. This benefits consumers across the UK, and represents savings worth almost £8 billion over the next five years.
More widely, the Government is providing over £20 billion this financial year and next to help families, which also includes cutting the Universal Credit taper rate, freezing alcohol duty, and helping households with their energy bills through our £9.1 billion Energy Bills Rebate.
Asked by: Ian Lavery (Labour - Blyth and Ashington)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of increasing the amount that employees can claim in fuel costs per mile in tax relief from 45p in the context of the recent increase in fuel costs.
Answered by Helen Whately - Shadow Secretary of State for Work and Pensions
The Government sets the Approved Mileage Allowance Payments (AMAPs) rates to minimise administrative burdens.
Organisations are not required to use the AMAPs rates. Instead, they can agree to reimburse the actual cost incurred, where individuals can provide evidence of the expenditure, without an Income Tax or National Insurance charge arising.
Alternatively, they can choose to pay a different mileage rate that better reflects their employees’ circumstances. However, if the payment exceeds the amount due under AMAPs, and this results in a profit for the individual, they will be liable to pay Income Tax and National Insurance contributions on the difference.
The Government keeps this policy under review.
Asked by: Ian Lavery (Labour - Blyth and Ashington)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will undertake an impact assessment of the increasing cost of energy, food and fuel on families with average and low incomes.
Answered by Simon Clarke
The independent Office for National Statistics (ONS) is responsible for the calculation of consumer price indices (CPI). On 28 January 2022, the ONS restarted publication of CPI inflation broken down by income, having previously suspended this due to the unavailability of many items for price quotes during the pandemic. The ONS find that high-income and low-income households have experienced similar annual inflation rates since 2014. This publication looks at CPI up to December 2021, and we recognise that since then there have been increasing pressures, particularly for lower- and middle-income households, as a result of rising energy prices and high inflation.
We understand the pressures people are facing with the cost of living, and that a range of factors mean individuals may experience cost rises differently. We are providing support worth over £20 billion across this financial year and next that will help families with the cost of living. This includes the £9.1 billion package announced in February 2022 to help households, in particular lower- and middle-income households, with rising energy bills.
Asked by: Ian Lavery (Labour - Blyth and Ashington)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what impact assessment the Government has conducted of the effect of the increased cost associated with motoring expenditure on low income families.
Answered by Simon Clarke
As the global economy recovers, many economies are experiencing high inflation, in part due to pressures from rising energy prices and disruptions to global supply chains. These global pressures are the main driver of higher inflation in the UK.
We understand the pressure that a higher cost of living places on people and low-income families. The government is providing support worth over £20 billion this financial year and next that will help families with the cost of living. This includes cutting the Universal Credit taper rate and increasing work allowances to make sure work pays, freezing alcohol and fuel duties to keep costs down, and the £9.1 billion package announced in February 2022 to help households with rising energy bills.
Asked by: Ian Lavery (Labour - Blyth and Ashington)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what impact assessment his Department has made of the effect of the cost of travel on low income families.
Answered by Simon Clarke
As the global economy recovers, many economies are experiencing high inflation, in part due to pressures from rising energy prices and disruptions to global supply chains. These global pressures are the main driver of higher inflation in the UK.
We understand the pressure that a higher cost of living places on people and low-income families. The government is providing support worth over £20 billion this financial year and next that will help families with the cost of living. This includes cutting the Universal Credit taper rate and increasing work allowances to make sure work pays, freezing alcohol and fuel duties to keep costs down, and the £9.1 billion package announced in February 2022 to help households with rising energy bills.
Asked by: Ian Lavery (Labour - Blyth and Ashington)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment his Department has made of the effect of clothing and footwear price increases on low income families.
Answered by Simon Clarke
As the global economy recovers, many economies are experiencing high inflation, in part due to pressures from rising energy prices and disruptions to global supply chains. These global pressures are the main driver of higher inflation in the UK.
We understand the pressure that a higher cost of living places on people and low-income families. The government is providing support worth over £20 billion this financial year and next that will help families with the cost of living. This includes cutting the Universal Credit taper rate and increasing work allowances to make sure work pays, freezing alcohol and fuel duties to keep costs down, and the £9.1 billion package announced in February 2022 to help households with rising energy bills.
Asked by: Ian Lavery (Labour - Blyth and Ashington)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment his Department has made of the impact of the increase in household goods prices on families on a low income.
Answered by Simon Clarke
As the global economy recovers, many economies are experiencing high inflation, in part due to pressures from rising energy prices and disruptions to global supply chains. These global pressures are the main driver of higher inflation in the UK.
We understand the pressure that a higher cost of living places on people and low-income families. The government is providing support worth over £20 billion this financial year and next that will help families with the cost of living. This includes cutting the Universal Credit taper rate and increasing work allowances to make sure work pays, freezing alcohol and fuel duties to keep costs down, and the £9.1 billion package announced in February 2022 to help households with rising energy bills.