Oral Answers to Questions

Kim Johnson Excerpts

Tuesday 15th March 2022 Commons Chamber

The Chancellor of the Exchequer was asked—

[Kim Johnson (Liverpool, Riverside) (Lab)]

1. What recent assessment he has made of the impact of inflation on living standards.

[Gerald Jones (Merthyr Tydfil and Rhymney) (Lab)]

6. What fiscal steps he plans to take to help reduce the impact on households of the rise in the cost of living.

--- Later in debate ---

[The Chancellor of the Exchequer (Rishi Sunak)]

The Government, of course, recognise that inflation is rising and are closely monitoring the situation together with the Bank of England. We are also putting in place policies to help families meet the rising cost of living, such as freezing duties, cutting the tax rate in universal credit and increasing the national living wage. Last month I announced to this House a £9 billion package of support to help households with rising energy bills.

[Kim Johnson]

The question was about what assessment has been made. The Resolution Foundation predicts that inflation will rise above 8% but benefits will increase by only 3%. Liverpool has some of the most deprived communities in this country, with 33% of children in my Riverside constituency suffering poverty. Does the Chancellor believe that now is not the time to increase national insurance contributions while the cost of living is increasing, forcing people into poverty at the highest level since the 1970s? Will he commit to putting measures in place in the spring statement?