Following a thoroughly enjoyable long weekend to celebrate the coronation of HM King Charles, Parliament resumed this afternoon with questions to the Chancellor of the Exchequer. As ever, parliamentary questions are a vital part of parliamentary scrutiny, allowing MPs to raise a plethora of issues, whether national or local. During this afternoon's session, I chose to question Ministers about the work being done to support individuals on a low income.
It is clear that since Putin's invasion of Ukraine, countries across the world have been struggling with increased costs that has led to inflation and debt spiralling. This disproportionately affects those who are on the lowest incomes, and it is these people who stand ready to benefit from a strong and resolute economy. We know that in order to achieve this we need to reduce debt, reduce inflation and balance the books. I am glad that this formed a key part of the Prime Minister's five pledges that were made at the beginning of the year.
I am grateful for the Minister's response in which he outlined the work already being done by the Government to restore economic confidence and to provide immediate relief for vulnerable households. This support includes targeted support for the most vulnerable in our society through additional cost of living payments and the uprating of benefits by 10.1% this year. The Government has also increased the national living wage by 9.7%, representing an increase of more than £1,600 in the annual earnings of a full-time worker on the national living wage. In total, this support is worth £3,300 per household on average over this year and last. Interestingly, the Minister outlined that this meant that households in the bottom half of the income distribution will see, in cash terms, twice as much benefit from Government support as households in the top half of the income distribution.
