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The Chancellor did not mention the freezing of tax thresholds, which is due to rake in £52 billion in the next six years. Was that an omission, or is he leaving the freeze in place?
The Chancellor did not mention the freezing of tax thresholds, which is due to rake in £52 billion in the next six years. Was that an omission, or is he leaving the freeze in place?
To ask the Chancellor of the Exchequer, for what reason his Department has decided not to uprate the threshold for the High Income Child Benefit Charge in line with inflation.
To ask the Chancellor of the Exchequer, for what reason his Department has decided not to uprate the threshold for the High Income Child Benefit Charge in line with inflation.
The Government knows that families across the UK are worried about the cost of living. This is why the Government has provided support to households for their energy bills through the £400 Energy Bill Support Scheme, the £150 Council Tax rebate (for households in Council Tax bands A, B, C and D), and the Energy Price Guarantee. The Energy Price Guarantee will be extended until April 2024, and is expected to save the typical household in Great Britain around £500 in 2023-24.
The Government considers that the HICBC threshold of £50,000 remains appropriate.
Nevertheless, on targeted support, in 2023-24, there will be an additional Cost of Living Payment of £900 for those on means-tested benefits, £300 for pensioner households, and £150 for individuals on disability benefits.
To ask the Chancellor of the Exchequer, what assessment his Department has made of the effect of not uprating the threshold for the High Income Child Benefit Charge in line with inflation on families during the cost of living crisis.
To ask the Chancellor of the Exchequer, what assessment his Department has made of the effect of not uprating the threshold for the High Income Child Benefit Charge in line with inflation on families during the cost of living crisis.
The Government knows that families across the UK are worried about the cost of living. This is why the Government has provided support to households for their energy bills through the £400 Energy Bill Support Scheme, the £150 Council Tax rebate (for households in Council Tax bands A, B, C and D), and the Energy Price Guarantee. The Energy Price Guarantee will be extended until April 2024, and is expected to save the typical household in Great Britain around £500 in 2023-24.
The Government considers that the HICBC threshold of £50,000 remains appropriate.
Nevertheless, on targeted support, in 2023-24, there will be an additional Cost of Living Payment of £900 for those on means-tested benefits, £300 for pensioner households, and £150 for individuals on disability benefits.
To ask the Chancellor of the Exchequer, whether the Government plans to uprate the threshold for the High Income Child Benefit Charge in line with inflation.
To ask the Chancellor of the Exchequer, whether the Government plans to uprate the threshold for the High Income Child Benefit Charge in line with inflation.
The Government is committed to managing the public finances in a disciplined and responsible way, by targeting support where it is most needed.
The Government considers that the HICBC threshold of £50,000 remains appropriate at the moment. Maintaining the threshold means that the Government supports the majority of families, whilst ensuring the fiscal position remains sustainable.
Nevertheless, the Government knows that families across the UK are worried about the cost of living. This is why the Government has provided support to households for their energy bills through the £400 Energy Bill Support Scheme, the £150 Council Tax rebate (for households in Council Tax bands A, B, C and D), and the Energy Price Guarantee. The Energy Price Guarantee will be extended until April 2024, and is expected to save the typical household in Great Britain around £500 in 2023-24.
If the excess profits of the energy companies persist beyond this year, will the windfall tax persist? Will the Chancellor explain how the sunset clause works? Will he also explain why, when his super-deduction of 130% of investment has so far failed to spark the kind of investment he thought...
If the excess profits of the energy companies persist beyond this year, will the windfall tax persist? Will the Chancellor explain how the sunset clause works? Will he also explain why, when his super-deduction of 130% of investment has so far failed to spark the kind of investment he thought...
I thank the Leader of the House for announcing the business for next week, and may I join him in wishing you, Mr Speaker, all Members of this House and all the staff who work here a happy new year? I would also like to join him in his congratulations...
I thank the Leader of the House for announcing the business for next week, and may I join him in wishing you, Mr Speaker, all Members of this House and all the staff who work here a happy new year? I would also like to join him in his congratulations...
That this House considers that the Pensions Increase (Review) Order 2011 (S.I., 2011, No. 827) which was laid before this House on 17 March 2011 should be withdrawn because the Order requires the uprating of public sector pensions using the consumer price index, replacing the retail price index which the Government has indicated will be a permanent change; notes that the Government has refused to heed arguments that a temporary three year change to the index used would represent a fair contribution from benefits and pension recipients, at a time when wage growth generally is suppressed, to reducing the deficit whilst not unfairly impacting on their incomes over the longer term; but regrets that the Government has instead indicated that the change is permanent, leaving public sector workers and the poorest in society disadvantaged permanently, yearafter year, even once the deficit is gone and earnings growth has returned.
That this House considers that the Pensions Increase (Review) Order 2011 (S.I., 2011, No. 827) which was laid before this House on 17 March 2011 should be withdrawn because the Order requires the uprating of public sector pensions using the consumer price index, replacing the retail price index which the...
To ask the Chancellor of the Exchequer if he will estimate the cost to the Exchequer of using the consumer price index rather than the retail price index for calculation of local housing allowance for two years only from 2013-14.
To ask the Chancellor of the Exchequer if he will estimate the cost to the Exchequer of using the consumer price index rather than the retail price index for calculation of local housing allowance for two years only from 2013-14.
To ask the Secretary of State for Work and Pensions what the (a) level of the basic state pension and (b) value of the retail price index uprating applied to it was in each year since 1989; and if he will estimate that level had that pension been uprated in...
To ask the Secretary of State for Work and Pensions what the (a) level of the basic state pension and (b) value of the retail price index uprating applied to it was in each year since 1989; and if he will estimate that level had that pension been uprated in...
| Date of Uprating | Rate of basic state pension, £ per week | Rate if RPI used, £ per week | Rate if CPI used, £ per week |
| April 1989 | 43.60 | — | — |
| April 1990 | 46.90 | 46.90 | 45.85 |
| April 1991 | 52.00 | 52.00 | 49.55 |
| April 1992 | 54.15 | 54.15 | 53.05 |
| April 1993 | 56.10 | 56.10 | 54.65 |
| April 1994 | 57.60 | 57.10 | 56.30 |
| April 1995 | 58.85 | 58.35 | 57.15 |
| April 1996 | 61.15 | 60.65 | 58.85 |
| April 1997 | 62.45 | 61.90 | 60.20 |
| April 1998 | 64.70 | 64.15 | 61.30 |
| April 1999 | 66.75 | 66.20 | 62.15 |
| April 2000 | 67.50 | 66.95 | 62.90 |
| April 2001 | 72.50 | 69.15 | 63.55 |
| April 2002 | 75.50 | 70.35 | 64.40 |
| April 2003 | 77.45 | 71.55 | 65.05 |
| April 2004 | 79.60 | 73.55 | 65.95 |
| April 2005 | 82.05 | 75.85 | 66.70 |
| April 2006 | 84.25 | 77.90 | 68.35 |
| April 2007 | 87.30 | 80.70 | 70.00 |
| April 2008 | 90.70 | 83.85 | 71.25 |
| April 2009 | 95.25 | 88.05 | 74.95 |
| April 2010 | 97.65 | 88.05 | 75.75 |
| Notes: | |||
| 1. In the CPI scenario the basic state pension level has been increased by CPI inflation for September of the preceding year. Where it has been used RPI inflation is taken from the same period. | |||
| 2. The official CPI index starts in 1996 but historical estimates back to 1988 have been calculated based on archived RPI data. These estimates can be considered a reasonable proxy to the official series. Further details are given in Economic Trends No. 541. Prior to the 10 December 2003, the CPI was published as the HICP. | |||
| Sources: | |||
| DWP analysis; The Abstract of Statistics for Benefits, National Insurance Contributions, and Indices of Prices and Earnings, 2009 edition; Office for National Statistics historical CPI data, July 2010 |
To ask the Secretary of State for Work and Pensions if he will bring forward proposals to uprate pension credit by a level no less than that of earnings in each year of the 2010 Parliament.
To ask the Secretary of State for Work and Pensions if he will bring forward proposals to uprate pension credit by a level no less than that of earnings in each year of the 2010 Parliament.
Finance Bill. Third reading debate. Agreed on division (322 to 242) and bill passed.
Finance Bill. Third reading debate. Agreed on division (322 to 242) and bill passed.
People should learn from their economic history; I only wish that this Government would. The OBR's heroic assumptions about export growth and business investment also strain credibility, but Sir Alan Budd will not be around for much longer to defend his forecasts, whatever happens in the real world. One thing...
People should learn from their economic history; I only wish that this Government would. The OBR's heroic assumptions about export growth and business investment also strain credibility, but Sir Alan Budd will not be around for much longer to defend his forecasts, whatever happens in the real world. One thing...
I will not give way because the hon. Gentleman has not been here for the entire debate; if he had been, I would have done. We see in this Finance Bill that the Tory-led Government have made precisely that error with their deliberate, ideologically driven choice to go for a...
I will not give way because the hon. Gentleman has not been here for the entire debate; if he had been, I would have done. We see in this Finance Bill that the Tory-led Government have made precisely that error with their deliberate, ideologically driven choice to go for a...
We have had an interesting debate on the Third Reading of the Finance Bill, although it has gone over a lot of old ground, with no surprising new positions taken on either side. The Exchequer Secretary to the Treasury claimed again that the Budget is progressive—a claim that I shall...
We have had an interesting debate on the Third Reading of the Finance Bill, although it has gone over a lot of old ground, with no surprising new positions taken on either side. The Exchequer Secretary to the Treasury claimed again that the Budget is progressive—a claim that I shall...
I thank the hon. Gentleman for his generosity in giving way. On this point about uprating pensions, will he take this opportunity to admit that the shift from the retail prices index to the consumer prices index as the definition for which all benefits and now all pensions will be...
I thank the hon. Gentleman for his generosity in giving way. On this point about uprating pensions, will he take this opportunity to admit that the shift from the retail prices index to the consumer prices index as the definition for which all benefits and now all pensions will be...
I am listening to the hon. Gentleman's arguments very carefully. Will he tell us whether he is so disappointed that he will now finally consider not going into the Lobbies to support the Budget on Third Reading?
I am listening to the hon. Gentleman's arguments very carefully. Will he tell us whether he is so disappointed that he will now finally consider not going into the Lobbies to support the Budget on Third Reading?
To ask the Secretary of State for Work and Pensions what assessment she has made of the merits of uprating earnings-related state pensions at the same rate as the basic state pension from April 2010.
To ask the Secretary of State for Work and Pensions what assessment she has made of the merits of uprating earnings-related state pensions at the same rate as the basic state pension from April 2010.
To ask the Chancellor of the Exchequer if he will make it his policy to increase the state earnings-related pension scheme (SERPS) by 2.5 per cent. in line with the basic state pension; and what recent guidance his Department has issued to those considering a SERPS pension.
To ask the Chancellor of the Exchequer if he will make it his policy to increase the state earnings-related pension scheme (SERPS) by 2.5 per cent. in line with the basic state pension; and what recent guidance his Department has issued to those considering a SERPS pension.
To ask the Chancellor of the Exchequer pursuant to the contribution of the Minister for Pensions and the Ageing Society of 10 December 2009, Official Report, column 523, on benefits uprating, if he will introduce an immediate increase in the additional pension in line with January's retail price inflation figures;...
To ask the Chancellor of the Exchequer pursuant to the contribution of the Minister for Pensions and the Ageing Society of 10 December 2009, Official Report, column 523, on benefits uprating, if he will introduce an immediate increase in the additional pension in line with January's retail price inflation figures;...
My hon. Friend mentioned the Turner report, which was not purely the property of Lord Turner himself, but the result of a commission. Does my hon. Friend agree that the Turner commission said:""we do not believe that a rapid increase over a short period (e.g. to 70 by 2030 as...
My hon. Friend mentioned the Turner report, which was not purely the property of Lord Turner himself, but the result of a commission. Does my hon. Friend agree that the Turner commission said:""we do not believe that a rapid increase over a short period (e.g. to 70 by 2030 as...