Incomes and Prices

Lord Woodley Excerpts

Monday 31st October 2022 Lords Chamber

[Lord Woodley (Lab)]

My Lords, there seems to be consensus in the Government at last that the economy benefits when people have more money to spend or in their pockets. Government statistics show that the best way to improve pay is to join a trade union, such as my union, Unite, which has put £200 million into workers’ wallets through pay increases in the last year alone. It has won four in five out of more than 450 disputes. That is why, as my noble friend Lord Hendy said, the reintroduction of sectoral collective bargaining would make such a massive difference by growing wages, productivity, and the economy. Does the Minister agree?

[Viscount Younger of Leckie (Con)]

I have said already that the unions play an important part through their role in representing workforces, and I stick by that, but it is not just that. There is the amount of support that we are giving over and above it. The noble Lord mentioned the energy price guarantee, but millions of the most vulnerable households will receive £1,200 of support this year through the £400 energy bills support scheme, the £150 council tax rebate and the one-off £650 cost of living payment. It is to do with how much they earn, but also how much we can stretch their pockets.