YouSaid · the spoken record
Laura Trott
On the record 2022–2026
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This is everything the corpus holds for Laura Trott. It is not everything they have said on the record.
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“This will make a huge difference to investment, as more than 200 business leaders and industry bodies across the country have pointed out. We can do this only because—in case anybody is in any doubt—this Conservative Government have more than halved inflation, have met our borrowing rules three years early and are seeing our debt lower every single year. Meanwhile, our small and medium-sized businesses, which account for more than 99% of private business in the country, remain the backbone of the economy. Our business rates support saves the average independent shop more than £20,000. We continue to back those businesses by extending the 75% business rates discount for retail, hospitality and leisure businesses for another year, and by tackling late payments.”
House of Commons22 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Our solution is not simply to borrow more, as the Labour party would, but to back British business and invest in areas that will create growth, driven by our values: living within our means, protecting the poorest and rewarding work. We are attracting an extra £20 billion a year from business investment, reducing taxes on working people and increasing the national living wage to give workers £1,800 year on average, and we are freezing alcohol duties until August next year. Our announcement to make full expensing permanent means that we now have not just the lowest headline corporation tax rate in the G7, but the most generous capital allowances, too. For every £1 million that a company invests, it will get £250,000 off its tax bill at the end of the year.”
House of Commons22 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Before he took the difficult decisions in last year’s autumn statement, headline debt was predicted to rise to 99.6% of GDP by the end of the forecast. Labour’s approach would see that number rising but, in contrast, our approach has seen debt predicted to be 5.5 percentage points lower as a proportion of GDP by the end of the forecast. We will therefore meet our fiscal rule to have underlying debt falling as a percentage of GDP in the final year of the forecast, with double the headroom compared to the OBR’s March forecast. That headroom allows us to take the actions we are proposing in the autumn statement, because the job is not yet done. Debt and inflation are heading the right way, but we must keep pushing. While growth is better than it could be, it is not as high as it should be.”
House of Commons22 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Looking ahead, the economy will continue to grow, boosted by 0.5% through the measures taken in the autumn statement and spring Budget. Perhaps most critically of all, debt is down. I know the Members on the Opposition Front Bench are concerned about that, but reducing debt and borrowing is essential to controlling inflation, keeping mortgage rates down and taxes low. Let me be clear: Labour’s plans would send us all the way back to square one. Labour’s inflationary £28 billion borrowing commitment will drive up inflation, cause interest rates to spiral and hammer families up and down the country. That is a fundamental difference between this Government and the Opposition. By contrast, look at what my right hon. Friend the Chancellor has achieved.”
House of Commons22 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am sure the hon. Lady will be interested to know that taxes for the average worker have gone down by £1,000. However, those on higher incomes have had to pay more, which I am sure she will agree is the right approach in a difficult period. On growth, in 2010 we were facing the worst recession since the second world war, but this Conservative Government have turned things around. Since 2010, we have grown our economy faster than many in the G7, including France, Germany, Italy, Spain and Japan. Following the pandemic and the energy crisis, which were predicted to take us into recession, the economy has recovered more quickly than previously thought and is now 1.8% larger than its pre-pandemic size, growing faster than Germany.”
House of Commons22 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I will say it lots of times, believe me. This Conservative Government are the party of business. This Conservative Government are the party of workers. This Conservative Government are the party of working people. The Government have a plan to keep delivering, and it is presented to this country and to this House in today’s autumn statement. It is a plan that permanently increases the size of the economy, that backs Britain and Britain’s businesses, that rewards work and improves pay and that will deliver growth in every part of this United Kingdom.”
House of Commons22 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“As a result of the Government’s triple lock, the basic state pension is now more than 50% higher in cash terms than it was in 2011. The Secretary of State for Work and Pensions is undertaking his review at the moment, and I cannot pre-empt that.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Government are committed to supporting households with the cost of living, delivering over £94 billion of support, including uprating benefits by 10.1% this year. As I have said, the Secretary of State for Work and Pensions is undertaking his review, and I cannot pre-empt that.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We understand that things are really tough at the moment, which is why we have put in place £900 of cost of living support this year, but we also all need to work on bearing down on inflation. We are seeing it start to come down, but we know it is still too high, and we hope we will reach the Prime Minister’s pledge of halving inflation, because that is the biggest help we can give to households this year.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Tuition fees have been frozen for 2023-24 and 2024-25, which will help affordability for future graduates. For new graduates, interest rates will move with the retail prices index but will have nothing added.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I thank my hon. Friend for his question. The most important thing we can do is bear down on inflation, because that will bear down on interest rates, which affect us all. I would also point to the cost of living support that the Department for Education is providing for students. I would be happy to discuss the matter with him further.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My hon. Friend is rightly very focused on making sure that every single pound of taxpayers’ money is spent wisely, and I can assure him that the Government share that goal. In June, the previous Chief Secretary to the Treasury launched the public sector productivity programme, and we will provide an update at the autumn statement.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My hon. Friend is right that public sector productivity must be improved. That is exactly what the review is looking at and what we will address. I look forward to talking to him more about it in due course.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We have announced UK-wide support for households, including cost of living payments, the energy price guarantee and the energy bills support scheme. Taken together, support for households is worth £94 billion and is among the largest packages in Europe.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I was pleased to see this morning’s figures, which show that wages are going ahead of inflation. This is very good news and I hope it spreads to Scotland.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“These decisions involve tough trade-offs, but because of our history of delivery and our long-term plan for the future captured in this King’s Speech, I know that the Government can achieve their aims for this country and help every part of the country to reach its potential. I commend the Loyal Address, unamended, to the House.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is important that the public understand the challenges that we face, so that they can understand the changes we have made to safeguard their future. This Government’s legislative agenda recognises that, balancing the delivery of both security and opportunity. The Government have a track record and a long-term plan to do just that, and I am hugely proud to play my part as Chief Secretary to the Treasury. That is why we will deliver licences for fresh oil and gas fields, continue to work to halve inflation and bring forward the trade Bill, cementing our place in the comprehensive and progressive agreement for trans-Pacific partnership, locking in long-term rights for UK firms to do business in the fastest growing region of the world. None of this is easy.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The £36 billion that we are saving by cancelling HS2 will be reinvested to deliver Network North, improving journeys and infrastructure between and within the towns and cities of the north and the midlands, instead of just giving the people of the north a quicker way to move south. The legislative agenda cuts through the noise of those who want to talk Britain down, who speak freely about our challenges but are tight lipped on solutions, and provides clarity, certainty and stability for those who need it most. The last years have not been easy; the coming ones will offer their own challenges. I understand those who want to wish those truths away, but this Government’s instinct is to treat the public like adults.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is the world’s greatest privilege. This place, across the House, does an enormous amount of good. I hope and expect that the family, colleagues and friends that he brought along today were proud to see his excellent speech, and I look forward to further contributions. We are taking the actions that will make this country better. The King’s Speech aims to push the UK into the spotlight on the international stage, embracing our role as a champion of global free trade, open for business and investment from around the world. Just look at our decision to scrap HS2, a one-route project where the right decision was postponed and kicked down the road as costs mounted up.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I was slightly incredulous to hear the Opposition talk about boosting housing when they have just blocked a measure that would have added 100,000 much-needed homes. Being in opposition is as much about what to support as it is about what to oppose, and that was a mistake. However, I welcome the Opposition’s support, albeit grudging, for the Renters (Reform) Bill and the leasehold Bill. Before I close, I should mention the brilliant maiden speech by the hon. Member for Mid Bedfordshire (Alistair Strathern), whose beautiful constituency we have all been seeing a little bit too much of recently. It was a gracious and accomplished maiden speech that spoke to his decency in the way he conducted the campaign. I wholeheartedly agree with him that there is nothing better than to represent the place in which one grew up.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Member for Lancaster and Fleetwood is in her place, but I note her remarks on sodium valproate and will make sure that they are fed into the Health team. That was very important. On the supply side, many Members, including my hon. Friends the Members for Burnley, for Burton (Kate Kniveton) and for Hastings and Rye (Sally-Ann Hart), the hon. Member for Paisley and Renfrewshire North (Gavin Newlands) and my hon. Friend the Member for Stoke-on-Trent South, talked about the importance of transport in their local areas and of protecting consumers travelling by air. Housing has been brought up by a number of Members. We are on track to deliver the 1 million houses over this Parliament, and the Chancellor is looking at what more we can do to support planning reform, particularly on infrastructure.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“This is the welfare reform that was called for by my hon. Friend the Member for Waveney (Peter Aldous) and others. At the autumn statement, the Government will announce a package of long-term measures, creating an investment economy by unlocking business investment. I welcome the remarks by my hon. Friend the Member for Stoke-on-Trent South (Jack Brereton) about the digital network Bill and the importance of broadband. I am glad to have heard the hon. Members for Lancaster and Fleetwood (Cat Smith) and for Walthamstow (Stella Creasy) bring up childcare. This is an important measure for growth as well as the right thing to do, and I hope that they welcome our £200 million investment. I do not think that the hon.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Friend the Member for Middlesbrough South and East Cleveland (Sir Simon Clarke), with whom I hope to engage a lot as I hugely respect the work he did as Chief Secretary to the Treasury, pointed out the dramatic impact that a Conservative Government and a Conservative Mayor, the brilliant Ben Houchen, have had on Teesside. He talked about Labour’s legacy there as one of mediocrity and failure, and he is right. With steelmaking back, carbon capture and storage, and a new net zero power station, this is levelling up in action, and that is what a Conservative Government deliver. Turning to growth and supply side reform, which lots of people have mentioned today, at the spring Budget we announced a comprehensive employment package designed to remove the barriers that are preventing people from getting back into work.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Member for Birmingham, Selly Oak (Steve McCabe) asked who is better off. I will tell him who is better off: the 1.7 million people who have been taken out of poverty since 2010, the 200,000 pensioners taken out of poverty, those helped by the 40% drop in youth unemployment, those for whom it now pays to go out to work, children learning in schools that are more likely to be good or outstanding and, as my hon. Friend the Member for West Worcestershire (Harriett Baldwin) said, the low-paid, the number of whom has dramatically fallen since the national living wage was introduced. Since 2015, the proportion of people on low pay has halved. My right hon.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is true that she did not mention the deficit-busting, inflation-producing £28 billion of borrowing in her speech, but that is another Labour policy well overdue for a U-turn. Key to driving non-inflationary growth will be boosting trade. The Brexit zombies on the SNP Benches fail to recognise the potential of the trade deals we have with the rest of the world. My right hon. Friend the Member for North Somerset and my hon. Friends the Members for Crawley (Henry Smith) and for Burnley (Antony Higginbotham) know the benefits that our open, international, free trading stance will bring. Deals such as the CPTPP with the fastest-growing economies in the world will deliver the clear benefits of Brexit, and we should be talking them up, not down. Indeed, there was too much talking down in the debate today. The hon.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I am sure even Opposition Members would recognise that that is not an optimal outcome. Indeed, the Opposition seem to have put forward a plethora of new spending commitments today prior to an updated OBR forecast, which I would suggest is not in the spirit of their own amendment. Turning to some of the measures mentioned today, the shadow Chancellor criticised the lack of action on the cost of living, yet did not once mention inflation. It is up there with the right hon. Member for Doncaster North (Edward Miliband) forgetting the deficit. Getting inflation down is the ultimate solution to the cost of living pressures we face. It requires disciplined, unglamorous work, which means keeping inflationary spending down. There was not one proposal in the shadow Chancellor’s speech to address it.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Perhaps most impressive of all, we have done this while slashing our borrowing by 70% between 2010 and the start of the pandemic. This is what a Conservative Government deliver. Here I should consider the amendment in the name of the Leader of the Opposition and the shadow Chancellor, the right hon. Member for Leeds West (Rachel Reeves), although I will be brief as Opposition Members did not cover it much. If their amendment had been in force in 2020, we surely would have found ourselves in a much worse position. It would have hampered the Government from acting in an emergency, as we did during the pandemic, because instead of taking decisive action to support people and businesses up and down the United Kingdom, we would have been forced into a 12-week process with the OBR before we were able to deliver any support whatsoever.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We came to power with a duty to tackle what was then the worst recession since the second world war: 2.5 million people were unemployed and 1.4 million were stuck on out-of-work benefits. What has changed since 2010? Unemployment is down by 1 million people, and 1.7 million have been able to lift themselves out of poverty thanks to a new living wage. While many in the EU are experiencing a recession, here in the UK, as my right hon. Friend the Member for North Somerset (Dr Fox) regularly points out, since 2010 we have grown faster than France, Germany, Italy, Spain, the Netherlands and Japan, and our recovery from the pandemic has been one of the strongest in the G7. We have grown our economy by 65%, and cut our emissions by almost 50% since 1990.”
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“Putin’s appalling war in Ukraine has now dragged into another year of suffering and brave defiance; the terrorist actions of Hamas in the middle east have caused unspeakable suffering in Israel and Gaza; and all the while, the spectre of inflation haunts the globe, as the financial echoes of Putin’s war, covid-19 and the global financial crisis continue to ring out. What will work to address them is the careful, deliberate efforts that this Government are pursuing, which we will continue in the Chancellor’s forthcoming autumn statement. This is what the Government have done ever since we came to power, and this is what the King’s Speech does now. Before I turn to the measures in the King’s Speech, it is worth taking a look at what this Government have already achieved.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I will continue to hold that understanding as I take on my new role, and I look forward to working with Members across the House to make sure that the economy grows, that the wealth spreads, and that the Government are responsible and restrained with the public purse strings. I am sure the hon. Gentleman recognises, as I do, that the Chief Secretary’s job is a vital one that shows a clear difference between our two parties, and I am sure we will have robust discussions in the months ahead. I very much look forward to those opportunities. We live in a changing world. Even since this Government set out their previous legislative agenda in 2022, we have seen huge upheavals.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is an honour to participate in the debates following the first King’s Speech for more than 70 years. I thank all hon. Members who have contributed to this debate, including the hon. Member for Bristol North West (Darren Jones) both for his warmish welcome and for his remarks. He and I are both quite new to our posts, and much as we might disagree quite fundamentally on major topics such as taxes and spending, I am sure he agrees that it is a privilege to be closing today’s debate. During my time at the Department for Work and Pensions, I saw at first hand the impact that Government decisions have on people, and the hugely positive effect that work has on households and regions.”
House of Commons14 November 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I thank the hon. Gentleman for the work he is doing in his constituency. I assure him that that is exactly what the Government are doing. We recently launched an “invitation to claim” trial, which has been rolled out in 10 constituencies and is using housing benefit data to target those who might also be eligible for pension credit. We will report back on the results of that trial later this year.”
House of Commons4 September 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“With respect to the hon. Lady, that is exactly what we are doing. That is why we have put the cost of living payments in place, which are worth £900 to all those on pension credit, and why a cost of living pensioner payment worth £300 is coming out in the winter. All the while the Labour Mayor of London is charging pensioners £12.50 when they want to drive to the hospital.”
House of Commons4 September 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“My hon. Friend is absolutely right on that, and I praise all the work he has done in his constituency on pension credit. We are trying to do exactly what he sets out: encourage as many people as possible to claim this important benefit, at a time when they are going to need it most. I note that across the House good work has been done in individual constituencies.”
House of Commons4 September 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“With the comprehensive package of support I have talked about today, we have shown that we are taking action during the cost of living crisis to help pensioners as much as we can. We know that accuracy is the most important thing when it comes to the state pension, which is why we have taken action very quickly to correct issues where they have occurred, for example, with LEAP—the legal entitlement and administrative practices exercise. We will do the same in all such cases.”
House of Commons4 September 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The DWP has conducted an extensive campaign across TV, radio and social media, and with partner organisations, to boost pension credit take-up, with a number of pushes being made before cost of living payment deadlines. I am pleased to tell the House that that is working; applications were up by 75% in the year to May.”
House of Commons4 September 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Let me reassure my right hon. Friend and her constituents that asylum seekers are given no recourse to public funds. They are given payment for their food and shelter, but they are unable to claim benefits. Pensioners in her constituency will receive a state pension, if they qualify, which for the first time is worth on average more than £200 per week or over £10,000 a year. Pensioners who have not built up sufficient contributions may be eligible for pension credits, worth on average £3,500 per year, to top up their income. They are also eligible to receive the cost of living payment, if they ever receive pension credit, and the pensioner cost of living payment.”
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“In April, we announced plans to address this issue by introducing a retrospective national insurance credit, which will ensure that more people—especially women—have the opportunity to obtain a full state pension.”
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“The hon. Lady asked about this last time, and I believe I informed her previously that all alive people will be receiving the benefits they are entitled to by the end of this year.”
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“The triple lock was a Conservative invention. It was a pledge in our manifesto and the Secretary of State will be looking at it again this year when he makes his decision on benefits.”
House of Commons4 September 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Obviously this is without looking at the individual case, but it is important to note that the threshold has gone up significantly, so it is worth questioning whether the hon. Lady’s constituents are now eligible. If not, applications to the household support fund can be helpful, and local councils may be able to offer housing benefit support. If there is an individual case that she would like to write to me about, I am happy to respond.”
House of Commons4 September 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The connection timetable set out in guidance will require scheme trustees or managers to have regard to the guidance; not doing so would be a breach of the regulations. [Official Report, 10 July 2023, Vol. 736, c. 2MC.] While the instrument amends the requirements on trustees or managers by the removal of schedule 2, there are no other material changes to the 2022 regulations. The amendment regulations will facilitate a collaborative approach to connection that delivers on our commitment to introduce pension dashboards. I am satisfied that the draft regulations are compatible with the European convention on human rights. Pension dashboards have the potential to transform retirement planning forever, and the regulations are another step in the right direction.”
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“At the same time as providing more flexibility than is available in the 2022 regulations, retaining the broad framework of a phased approach will continue to help manage the flow of connections and maximise the coverage as early as possible. Government will work with key partners and the pensions industry on a connection timetable to be published in guidance. We expect that the connection timetable in guidance will continue to prioritise large schemes with the greatest number of members for the first connections. It is also important to note that the dashboards’ available point—the point at which dashboards will be available for widespread public use—could happen before the October 2026 connection deadline in the regulations.”
House of Commons3 July 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The 2022 regulations, however, did not provide the flexibility necessary to deliver a programme of this magnitude: a digital undertaking that will enable users to search more than 3,000 schemes to find their pensions. The draft instrument curtails the period of uncertainty for the pensions industry. As the staging profile in the 2022 regulations required the first schemes to connect at the end of August 2023, the amendment regulations were laid to avoid any perception that schemes are in breach through no fault of their own. The draft instrument uses powers in the Pensions Act 2004 to amend the 2022 regulations to compel all schemes in scope to connect to dashboards by 31 October 2026.”
House of Commons3 July 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Since then, we have been examining several challenges facing the pensions dashboards programme. The decision to pause, review and reset the programme is providing the time to ensure complete delivery of the ecosystem and supporting documentation before industry begins to connect. So far, the reset has assessed the digital architecture and no fundamental issues have been identified. That has provided reassurance to Government to move forward with amending the regulations. The staging profile in schedule 2 to the 2022 regulations set out the order in which different types of schemes, categorised by size and type, would connect to pensions dashboards.”
House of Commons3 July 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The PDP faced several key issues: the technical solution had not been sufficiently tested and there was still work to do to finalise the necessary supporting documentation and to get the necessary systems in place to support industry with the connection process. It was concluded that more time was needed to deliver dashboards successfully and that a reset of the programme was required. In my written statement in March 2023, I announced the delay and set out that the pensions dashboards programme would be reset to get it back on the path for successful delivery. Following the announcement, my Department engaged with a broad cross-section of industry and gave assurance that it would legislate at the earliest possible opportunity to provide certainty to schemes.”
House of Commons3 July 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We anticipate that, once all schemes in scope of the draft regulations are connected, the pension records of more than 71 million memberships from relevant occupational pension schemes and providers of Financial Conduct Authority-regulated entities will be accessible to people at the touch of a button at a time of their choosing. The reason for the draft regulations is that, at the end of last year, the pensions dashboards programme, which is responsible for delivering the digital architecture that underpins pensions dashboards, informed the Department for Work and Pensions that more time was required to complete the build of the digital architecture.”
House of Commons3 July 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Research published by the Pensions Policy Institute estimates that there were 8 million deferred pots in 2020 and that, without intervention, that number is likely to rise to 27 million by 2035. Pensions dashboards will help hard-working savers to locate pension pots that they have accumulated over time, reconnecting them with lost and forgotten pots, supporting better planning for retirement. People will be able to deal with their various pensions, including their state pension, securely in one place online. There can be no doubt that pensions dashboards have the potential to change the pensions landscape, but delivering dashboards for widespread use efficiently and securely is a complex undertaking.”
House of Commons3 July 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I beg to move, That the Committee has considered the draft Pensions Dashboards (Amendment) Regulations 2023. It is a pleasure to serve under your chairmanship, Mr Robertson. The draft regulations were laid before the House on 8 June. I am pleased to introduce this statutory instrument, which removes the staging profile from the Pensions Dashboards Regulations 2022 and introduces a single connection deadline of 31 October 2026 for relevant occupational pension schemes to connect to the pensions dashboards. The successful introduction of automatic enrolment more than a decade ago, combined with a trend towards people working multiple jobs in their lifetime, has seen a substantial increase in pension pots.”
House of Commons3 July 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“From a cost-to-industry perspective, the overall benefits far outweigh the costs, and from a scheme perspective I am confident that it is keeping to its outline budget, although we will continue to keep that under review. On the AE extension, I will not miss an opportunity to praise my hon. Friend the Member for Stoke-on-Trent North (Jonathan Gullis), who has done a fantastic job. Hopefully his Bill will go quickly through the other place, and I promise to get the consultation on the regulations out as quickly as I can, to ensure that we get it moving through. We need to evaluate the impact of Stronger Nudge so far, and then base any next steps on that. I think that that covers everything, but Members are welcome to intervene if not. I commend the draft regulations to the Committee. Question put and agreed to.”
House of Commons3 July 2023Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗