Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of the Autumn Statement 2022 on levels of household wealth in the North East.

The Distributional Analysis published at Autumn Statement 2022 shows that government decisions made at this fiscal event are progressive: low-income households will receive the largest benefit in cash terms and as a percentage of income, and will on average be net beneficiaries from decisions on tax, welfare and amendments to the Energy Price Guarantee in 2023-24.

The government announced at Autumn Statement an additional £900 Cost of Living Payment in 2023-24, benefitting around 400,000 households in the North East. A further 266,000 households in social rented housing in the North East will benefit from the Social Rent Cap.

In addition, the government will shortly be agreeing an expanded mayoral devolution deal with local authorities in the North East.