Lord Kinnock
Main Page: Lord Kinnock (Labour - Life peer)My noble friend is absolutely right that methodologies vary in different analyses. His comment also touches on the fact that these figures are quite often old ones. Those referred to in the noble Baroness’s Question go back to 2012, and much progress has been made since then.
In introducing the new living wage, the Chancellor referred to the Resolution Foundation with commendation, and rightly so. Is the Minister aware that the Resolution Foundation made it clear that the living wage could be £9 an hour if working tax credits were maintained, but that without working tax credits it would need to be £12? Are we going to hear an announcement to that effect?
My Lords, the Chancellor said yesterday that the living wage should mitigate the reduction in tax credits.