(2 days, 12 hours ago)
Commons ChamberI am sorry to hear about the case that my hon. Friend has highlighted. He will have heard the reform that I announced earlier, but I absolutely understand why he wants to raise this issue for his constituent, and if he would like to meet me to discuss it further, I would be happy to do that.
The short answer to that question is yes. The Department is contributing to two consultations that will shortly be published by the Business and Energy Departments. They will invite views on the new UK sustainability reporting standards and transition plans. This will help investors, including pension savers and their schemes, to understand the impact of climate and nature on investments.
As a co-chair of the all-party parliamentary groups on sustainable finance and on global deforestation, I remain concerned that around £388 billion in UK pension savings is still invested in fossil fuels and deforestation-related activities. Will the Minister reassure me further that undermining the long-term financial security of savers in South East Cornwall is not the Government’s intention, and will he commit to reviewing this, including via the Pension Schemes Bill and the landmark pensions review?
My hon. Friend has been a powerful campaigner on this issue for some years, and she will know that larger pension schemes are now required to publish annual reports with climate-related disclosures. The evidence shows that around two thirds of pension funds have a net zero commitment in place, and we will be reviewing those regulations over the course of this year.
(1 month, 2 weeks ago)
Westminster HallWestminster Hall is an alternative Chamber for MPs to hold debates, named after the adjoining Westminster Hall.
Each debate is chaired by an MP from the Panel of Chairs, rather than the Speaker or Deputy Speaker. A Government Minister will give the final speech, and no votes may be called on the debate topic.
This information is provided by Parallel Parliament and does not comprise part of the offical record
Many people in South East Cornwall are deeply worried about what the proposals will mean for them and their families. The Government’s consultation is still open, so I urge residents to participate and respond. Alongside the work that I and colleagues undertake daily, raising the issue in public and holding meetings, the consultation is a vital opportunity for people to participate.
In South East Cornwall, 9.3% of working age adults are claiming PIP, well above the south-west average. Behind every one of the numbers is a person—a neighbour, a parent, a carer, a young adult trying to build a life in a rural part of the country where access to services and transport is already difficult. The most common reasons for making a claim include anxiety, depression, learning disabilities and so on, so it is clear that we must do more to support working-age adults who can work to do so. That means quality mental health services and better special educational needs and disabilities provision for our families.
The cost of living continues to hit hard in South East Cornwall, so I welcome the Government’s commitments to raise the standard universal credit allowance above inflation and to introduce the new health premium for those who will never be able to work, but I ask the Minister: what is being done to ensure that those affected are protected from being pushed into poverty? Will he commit to reviewing how to ensure that more accurate decisions are made in the first place to reduce stress, deliver better for our communities and reduce costs? Ultimately, South East Cornwall people rely on these services, and that is who I work for every day and will continue to fight for as their MP.