Poverty Programmes: Audit Debate
Full Debate: Read Full DebateDepartment: Department for Work and Pensions
Baroness Manzoor
Main Page: Baroness Manzoor (Conservative - Life peer)Department Debates - View all Baroness Manzoor's debates with the Department for Work and Pensions
(8 years ago)
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Lord Freud
The design of universal credit, which the noble Baroness is looking at, is very different from existing legacy benefits. It incorporates real incentives to work more and we are already seeing people who are on universal credit looking to work more, looking to do more hours and looking to earn more in a way that they were not on legacy benefits. At the same time as we have those reductions to which she referred, we are moving the basic national living wage up and increasing childcare very substantially in order to go to a low-welfare, low-tax environment.
Baroness Manzoor (LD)
My Lords, the Minister will appreciate the poverty issues that are likely to affect BHS employees if the enormous shortfall in the pension fund is not met. What assurance will the Government give on ensuring that this gap is closed for around 11,000 BHS employees and around 20,000 pensioners?
Lord Freud
We have a strong safety net for pensioners in failed companies, as the noble Baroness will be aware. It is important that we have a strong pension regulator behind that. I also observe that this story has shown the importance of having effective pension trustees when there is a change of ownership.