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Average Earnings/Rate of Inflation

Volume 587: debated on Tuesday 4 November 2014

15. What recent comparative assessment he has made of growth in average earnings and the rate of inflation since May 2010. (905854)

Inflation is at 1.2%—lower than at any point since 2009. We appreciate that times have been tough for families in recent years, but as the Institute for Fiscal Studies has said, that is

“a direct but delayed result of the 2008 recession”.

Since May 2010, this Government have taken decisive action to support families. We have increased the personal allowance, frozen fuel duty and council tax, and cut energy bills. In the past year, unemployment has fallen at the fastest rate since records began, and the proportion of workless households is lower than it ever was under the previous Government.

We have gone through a difficult period, but, as I said, that is

“a direct but delayed result of the 2008 recession”.