Oral Answers to Questions

Neil O'Brien Excerpts

Tuesday 29th January 2019 Commons Chamber

[Vicky Ford (Chelmsford) (Con)]

3. What steps he is taking to increase earnings for the lowest paid.

[Neil O’Brien (Harborough) (Con)]

4. What steps he is taking to increase earnings for the lowest paid.

[The Chancellor of the Exchequer (Mr Philip Hammond)]

The national living wage was introduced by my predecessor. It will rise to £8.21 from April this year. In total, it will have delivered a pay rise of over £2,750 for a full-time minimum wage worker since its introduction in 2016. While we are proud of that achievement, my hon. Friend the Member for Chelmsford (Vicky Ford) will know that in the long term, sustainable pay growth relies on improving productivity. That is why we are investing heavily in infrastructure and are delivering a national retraining scheme to ensure that people are equipped for the technology revolution ahead.

[Mr Hammond]

The Government are committed to supporting savers at all levels of income and at all stages of life. In September 2018, we introduced Help to Save, which is targeted at people on low incomes and which Martin Lewis of moneysavingexpert.com described as

“a very clever scheme”

that

“enables people possibly to have the best of both worlds”.

It pays a 50% bonus on savings of up to £50 made by working families on low incomes. We have 80,000 accounts open already, and we expect the numbers to rise substantially over the next few months.

[Neil O’Brien]

My constituency has a quarter more businesses and 6,700 more people in work than in 2010, and Harborough district has seen the fastest growth in wages anywhere in the east midlands over the last five years, but we cannot rest on our laurels. To accommodate 230 more jobs, Harborough District Council is building a new “grow on space”. Will the Chancellor come and visit it once it is complete?

[Mr Hammond]

The sting was in the tale. I am delighted to welcome the new jobs that have been created in Harborough through the action of the council, no doubt with strong encouragement from my hon. Friend. The Government are keeping taxes low and are helping start-ups to access the support that they need. That is why 3.4 million new jobs and 1.2 million more businesses have been created since 2010. With regard to his generous invitation, as I visited his constituency and had the pleasure of seeing what was going on there only very recently, if he does not mind, I will offer it to one of my team.