Inflation

(asked on 1st February 2017) - View Source

Question to the HM Treasury:

To ask Her Majesty’s Government what measures they are taking to ensure that general living standards do not suffer as a result of rising inflation.


Answered by
Baroness Neville-Rolfe Portrait
Baroness Neville-Rolfe
Minister of State (Cabinet Office)
This question was answered on 14th February 2017

Living standards, as measured by real household disposable income per head, grew at their fastest rate in 14 years in 2015. This took living standards to their highest ever level, and they are forecast to have risen further in 2016.

From April 2017, the Personal Allowance will rise to £11,500 and the National Living Wage to £7.50 an hour, meaning families will keep more of what they earn. We are helping households with the cost of living by increasing the supply of affordable housing, banning letting agents’ fees and freezing fuel duty. We also believe our investment to boost productivity will raise living standards in the long run.

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