Oral Answers to Questions

Debate between Jo Stevens and Rachel Taylor

Wednesday 21st January 2026 Commons Chamber

[The Secretary of State for Wales (Jo Stevens)]

The Government are absolutely determined to lower the cost of living for families across Wales and the whole UK. That is why we are benefiting 69,000 children in Wales by scrapping the two-child limit. It is why we are slashing household energy bills by an average of £150 a year, and why we are again increasing the national minimum and living wage, building on the previous increase, which boosted the incomes of up to 160,000 workers in Wales.

[Rachel Taylor]

The latest interest rate cut—the sixth since Labour formed this Government—is great news for mortgage holders in Wales, North Warwickshire and Bedworth and across the UK, bringing down the cost of family mortgages by almost £1,400 a year. Will the Secretary of State update the House on how this Government’s policies are helping to strengthen our economy and improve the cost of living as a result?

[Jo Stevens]

My hon. Friend is absolutely right; this Government are supporting people across Wales and the UK with the cost of living. In comparison with when we came into government, households that take out a new mortgage are saving around £1,400 a year on their mortgage repayments. We have also increased the state pension by 4.8%, which will take effect in April, benefiting 700,000 pensioners across Wales. We have also uprated the universal credit standard allowance by over 6%—the first ever permanent real-terms increase—benefiting 320,000 households in Wales.