It’s been another busy month in Parliament. I’ve been talking on things that are important to the Isle of Wight, such as regeneration, housing and the investment projects that are happening, including the new building work at St Mary’s, the new diagnostic centre and the repairs now underway to Ryde Pier’s railway.

It’s all part of the £120million of extra investment we have been getting in the Isle of Wight in the past five years. It’s all part of getting a better deal for the Island.

The Chancellor’s statement earlier this month was tough. Taxes will go up, although we are protecting spending that will support the creation of jobs and opportunities.

READ MORE: Work on Isle of Wight's historic Ryde Pier to begin this autumn

READ MORE: Isle of Wight hospital improvement works get underway next week

We will aim to get taxes down as soon as we can. We know people expect us to run the national finances properly and be the party of lower taxes and opportunities.

I was delighted that the triple lock will be reinstated from April 2023. This means that in April, the state pension will increase by 10.1 per cent, in line with the inflation figures for September 2022.

This is the biggest cash increase in the state pension ever. I fully support and welcome this.

I raised this issue in Parliament a few weeks ago. It is important that those folks on fixed incomes have greater support, especially those who have paid into the system all their lives.

However, all households, not just pensioners, are being supported as the cost-of-living increases.

Under the Energy Price Guarantee (EPG), the typical household will pay no more than £2,500 on their energy bill until April 2023. 

Thereafter, the price cap will rise so that the typical household will pay no more than £3,000 until April 2024. The EPG will save the average household a further £500 and means they will not have to face energy bills of £6,000 this winter.

On top of the EPG and £49 billion cost-of-living support package, pensioners continue to receive other support, including free bus passes, winter fuel payments, tax-free pension contributions worth over £50 billion, and free TV licences for the over-75s in receipt of pension credit.

Times are a little tough at the moment. We know folks on the Isle of Wight and throughout the UK are concerned. That’s why government is acting.

It’s why I will continue to seek to get investment in the Island to help create jobs and better opportunities for Islanders.