Wage Growth and Inflation

Oral Answers to Questions — Treasury – in the House of Commons at 11:30 am on 21st July 2015.

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Photo of Chris Green Chris Green Conservative, Bolton West 11:30 am, 21st July 2015

What comparative assessment he has made of the rates of wage growth and inflation.

Photo of Damian Hinds Damian Hinds The Exchequer Secretary

The hard work on economic recovery is now paying off as people see their pay packets growing faster. The most recent data show real pay growing at 3.2%. Inflation is low: the price of fuels has fallen by 10.5% in the past year and the price of food by 2.2%.

Photo of Chris Green Chris Green Conservative, Bolton West

As the MP for Bolton West, I strongly welcome the Government’s northern powerhouse plans to invest in transport infrastructure and in science and skills. What are the Government doing to ensure that Bolton West is increasingly attractive as a place for high-tech business to invest, so bringing in high-skilled jobs and higher wages for my constituents?

Photo of Damian Hinds Damian Hinds The Exchequer Secretary

The Budget contained measures that will boost skills and support high-tech businesses across the north, including in my hon. Friend’s constituency. Greater Manchester local enterprise partnership is invited to bid in the new round of enterprise zones, there will be new regius professorships to support universities and there is an ambitious transport package that will provide much needed infrastructure for the north of England.