Oral Answers to Questions

Debate between Steve Webb and Julian Huppert

Monday 26th January 2015 Commons Chamber

[Dr Julian Huppert (Cambridge) (LD)]

Local housing allowance levels in Cambridge are far too low, and have been for years. In 2008, Shelter could find only four properties that were affordable, and the position is essentially unchanged. The Minister helpfully gave us an above-inflation increase, but it still has not solved the problem. Will he investigate further to check that local housing allowances match the cost of renting, and undo the legacy of the broad rental market areas?

[Steve Webb]

My hon. Friend, and, indeed, his predecessor have been doughty campaigners on behalf of the city of Cambridge. He will be aware that the rent levels are set across the whole Cambridge rental market area, not just in the city of Cambridge. As he said, in 2014-15 we allocated £45 million for targeted affordability funding. We will be allocating £95 million in 2015-16, and the rates will be announced at the end of this week.

Oral Answers to Questions

Debate between Steve Webb and Julian Huppert

Monday 23rd June 2014 Commons Chamber

[The Minister of State, Department for Work and Pensions (Steve Webb)]

The Department has commissioned an independent review of the changes to local housing allowance, including the extension of the shared accommodation rate. The final report of that review is due to be published this summer.

[Dr Huppert]

I thank my hon. Friend for that answer. The situation worries many of my constituents, and a recent study by Crisis showed that in many parts of the country such as Cambridge only a tiny fraction of shared houses are available for people to rent. When he considers the review, will he change the broad rental market areas and ensure that people can find somewhere to live if they wish to be in Cambridge, Blackpool or any other location?

[Steve Webb]

My hon. Friend has made repeated representations about the broad rental market area for his constituency. We have used targeted funding to provide additional local housing allowance rates in areas of pressure, so although the general increase in the LHA rate is 1%, four of the five LHA rates for Cambridge, including that for shared accommodation, increased this April by 4%.

Oral Answers to Questions

Debate between Steve Webb and Julian Huppert

Monday 23rd April 2012 Commons Chamber

[Dr Julian Huppert (Cambridge) (LD)]

15. What steps he is taking to ensure that pension funds adopt ethical and infrastructure investments.

[The Minister of State, Department for Work and Pensions (Steve Webb)]

If I may refer briefly to the grouping of earlier questions, Mr Speaker, I understand that we failed to notify my right hon. Friend the Member for Bermondsey and Old Southwark (Simon Hughes) and my hon. Friend the Member for East Dunbartonshire (Jo Swinson) of the grouping and so apologise to them and to you.

Pension scheme trustees can consider companies’ environmental, social and governance practices. I am clear that trustees’ duties do not require them simply to maximise short-term investment returns. On infrastructure, the autumn statement set out details of a memorandum of understanding signed by the Government with two groups of UK pension funds to support additional investment in UK infrastructure.

[Dr Huppert]

I thank the Minister for his comments. He will be aware of the whole range of investments that give more than just short-term financial returns. For example, the Cambridge Retrofit programme, which was launched last week, will try to retrofit every building in Cambridge by 2050. However, how will he communicate with trustees and ensure that they are aware that their fiduciary duties do not prevent them from doing this, because many of them seem to be unaware of it?

[Steve Webb]

The Pensions Regulator communicates regularly with trustees and provides a trustee toolkit on its website that sets out their duties, but I think that auto-enrolment provides an opportunity for ethical investment. For example, the National Employment Savings Trust will specifically have an ethical fund for those who wish to invest in that way, and I hope that the schemes my hon. Friend refers to will seek to find investment through that sort of route.