Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what recent fiscal steps he has taken to encourage an improvement in living standards; and if he will make a statement.

The IFS state that “there have been very significant falls in real earnings as a direct but delayed result of the 2008 recession, essentially”.

The government has taken continued action to help hardworking families, including raising the personal allowance, which will take over 3.2m individuals out of income tax altogether by 2015/16, as well as freezing fuel duty, council tax and reducing household energy bills. The best way to improve people's living standards is to boost productivity and jobs, and the labour market has continued to strengthen with record numbers of people in work.