Cost of Living: Pensioners

Lord Sikka Excerpts

Thursday 26th May 2022 Lords Chamber

Asked by

[Lord Sikka]

To ask Her Majesty’s Government what assessment they have made of the cost of living increases on recipients of the state pension.

[The Parliamentary Under-Secretary of State, Foreign, Commonwealth and Development Office and Department for Work and Pensions (Baroness Stedman-Scott) (Con)]

My Lords, no assessment has been made. The Government are aware of concerns about the cost of living. My right honourable friend the Chancellor is making an announcement on this issue today. Since 2010, the full yearly amount of the basic state pension has risen by more than £2,300 in cash terms. That is £720 more than if it had been uprated by prices and £570 more than if it had been uprated by earnings. State pension recipients are also supported by further measures for older people.

[Lord Sikka (Lab)]

My Lords, I thank the Minister for her reply. In 2019, 68,000 pensioners died in poverty. That number will increase, as the real value of the state pension has been cut and another £800 energy rise is coming. Can the Minister commit to an immediate increase in the state pension of 15%? If not, can she return to the House in two weeks and explain why the Treasury is failing to support our pensioners?

[Baroness Stedman-Scott (Con)]

The noble Lord understands that I cannot make that commitment. We understand that people are struggling—we really do—with rising prices of energy and other things. The Chancellor is clear that, as the situation evolves, so will our response, with the most vulnerable being his number one priority. He will set out more details today. All noble Lords and I will have to wait to hear what he says.