7. If she will make an assessment of the potential impact of trends in the level of living standards on the economy.

Rising living standards are the ultimate goal of economic policy, and living standards are now rising following the unprecedented fall during the last Parliament. The latest data shows that the average person’s real disposable income is £800 higher than in the final year of the previous Parliament.

As the Minister says, the previous Parliament was the worst on record for living standards, so my constituents—for many of whom the cost of living is the No.1 issue—welcome the action taken to freeze rail fares, which will save them £350 on average, and to take £150 off their energy bills, as well as today’s groundbreaking commitment to cap ground rent, which we will hear about later. Will he confirm that the Government will continue to strain every sinew, clear every obstacle and use the power of government to cut the cost of living and raise living standards for my constituents over the course of this Parliament?

My hon. Friend is a powerful campaigner on this issue; week after week, he consistently raises the issue of living standards for people in Basingstoke. He is right to highlight the key role of energy bills in that. The Budget took levies off energy bills to save families £150 on average next year, as part of wider measures to directly cut inflation by 0.4 percentage points, further supporting living standards by making it easier for banks to cut mortgage rates and giving businesses the confidence to invest. Energy bills cut, ground rents cut—change promised, change delivered.

What assessment has the Minister made of the recent trends in household living standards across the United Kingdom, including through discussions with the relevant Minister in Northern Ireland? What steps has his Department taken, in conjunction with regional Administrations, to ensure that the Northern Ireland Executive can support households facing rising costs? I know that the Minister gives lots of answers, so will he give us an answer on this one, please?

We will always give the hon. Member an answer—and I mean always, at every single one of these sessions. Government Ministers, particularly at the Northern Ireland Office, spend a lot of time speaking to Ministers in Northern Ireland. He is absolutely right to say that the cost of living crisis affects not just one part but all parts of the United Kingdom. To take just one example, the six interest rate cuts since the general election have already made a big difference to those in Northern Ireland whose mortgage renewal is coming up.

I call the shadow Minister.

Persistently high inflation and fears that things will get tougher for their children are top issues for the British public, but the Office for Budget Responsibility’s assessment of Labour’s plans was that: “Growth in real household disposable income per person is projected to fall… to around ¼ per cent a year… well below the last decade’s average”. Minister, why is the sum of all this Government’s economic policies condemning the British public to such a despairing prospect?

Mr Speaker, that is called leading with your chin. Members on the Conservative Benches were in power in the last Parliament, which saw living standards fall by 2.9%. Living standards have already risen under this Government by 1.5%, because we are turning around their mess day after day after day.