Member

The uplift will see the benefits rise in line with inflation. The level of the rise is based, as we know, on retrospective statistics—1.7%—in line with the September CPI rate of inflation, which has been alluded to today. As the noble Baroness, Lady Lister, and the right reverend Prelate the Bishop of Chelmsford have said, we should all be concerned about the latest ONS figures on inflation, up 0.5% from December and now at 3% for January. Inevitably, this will erode the value of family finances. Price rises of certain goods are the core of the problem. This is another blow on top of the winter fuel allowance cut for pensioners and the employer national insurance contribution rises, with their impact on businesses and job security, and the emerging evidence of a chill on recruitment, I am afraid.