Commons Sense

House of Commons · Ministers' Questions

Cost of Living: Wales

Wednesday 21 January 2026 · 2 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 2 Partly answered 0 Not answered 0

Key points

  • The latest interest rate cut is the sixth since the Labour Government formed, reducing annual mortgage costs by nearly 1,400.
  • Households taking out new mortgages save around 1,400 a year compared to when the current government came into power.
  • All households will see an average 150 reduction in energy costs from April, automatically passed on by energy suppliers.

Topics (select to filter)

Questions & Answers

Q1 Rachel Taylor Lab North Warwickshire and Bedworth
Economy Benefits & Welfare
Context

The latest interest rate cut is beneficial for mortgage holders, reducing annual costs by £1,400.

Question

The latest interest rate cut—the sixth since Labour formed this Government—is great news for mortgage holders in Wales, North Warwickshire and Bedworth and across the UK, bringing down the cost of family mortgages by almost £1,400 a year. Will the Secretary of State update the House on how this Government’s policies are helping to strengthen our economy and improve the cost of living as a result?

Answer from The Secretary of State for Wales (Jo Stevens)

My hon. Friend is absolutely right; this Government are supporting people across Wales and the UK with the cost of living. In comparison with when we came into government, households that take out a new mortgage are saving around £1,400 a year on their mortgage repayments. We have also increased the state pension by 4.8%, which will take effect in April, benefiting 700,000 pensioners across Wales. We have also uprated the universal credit standard allowance by over 6%—the first ever permanent real-terms increase—benefiting 320,000 households in Wales.

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Q2 Nia Griffith Lab Llanelli
Wales Energy
Context

There is a concern about the eligibility and process for receiving £150 to help with domestic energy bills.

Question

The cost of living is still a major concern for my constituents in Llanelli, so I very much welcome the decision by this Labour Government to give households £150 to help with their domestic energy bills, but can the Secretary of State explain exactly who is eligible and when and how they will receive the money?

Answer from The Secretary of State for Wales (Jo Stevens)

Energy bills are a significant issue for people across the country. That is why, thanks to this Labour Government, from April this year all households will see an average £150 reduction in costs on their energy bills. Energy suppliers will pass on the savings automatically to households.

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