My Lords, I want to highlight three issues. First, on pensions policy, I welcome the Government’s proposal to increase pensions by 2.5%, in line with the triple-lock policy. Despite criticism, that triple lock helps to redress intergenerational unfairness and keeps pensioners’ incomes higher than they would otherwise be, given the relatively low basic level of state pension in the United Kingdom compared to other countries.
Secondly, regarding the Guaranteed Minimum Pensions Increase Order, I want to highlight the unjust frozen pension policy that affects some 500,000 pensioners who, despite paying into the system—and in many cases serving their country—have had their pensions frozen since they moved to places such as Canada, Australia, South Africa and so on. This is a wrong that needs to be put right. Will the Government explain whether action will be taken at long last to pay these pensioners what they are entitled to?
Thirdly, I refer to the £20 a week uplift to universal credit and the working tax credit given last year. Of course, legacy benefits should also have seen the same uplift and the Government should explain why people on legacy benefits have not seen a similar increase. The extra £1,000 and more in universal credit has been very important in helping to support people facing terrible financial disruption from increased unemployment, as well as from increased food, utility and other unavoidable costs as a result of living and working from home. It is clear that the disruption and financial hardship due to Covid will continue beyond April. I urge the Government—I know that this is not a part of today’s instrument, but it is a very relevant issue when we are talking about the uprating of benefits—to announce as soon as possible that the uplift will be extended, rather than waiting nearly until April, when we are approaching a cliff edge.
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