John Baron
Main Page: John Baron (Conservative - Basildon and Billericay)Department Debates - View all John Baron's debates with the HM Treasury
(2 years ago)
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Rishi Sunak
As I have said, it will be a difficult time, given the degree of shock that we are seeing to energy prices. We know that energy bills will, on average, will increase by about £1,200 this year. Roughly, most of the 8 million most vulnerable households should receive support worth around £1,200.
Mr John Baron (Basildon and Billericay) (Con)
The Chancellor and the Government are absolutely right to recognise that more needs to be done, but I suggest to him that generally, lower taxes bring forward greater prosperity over the medium to longer term. As high inflation will be less transitory than many believed—banks were saying only a few months ago that it would be transitory—will he consider raising the minimum wage above inflation to help the lowest paid, given that unemployment is at a record low, and scrapping the corporation tax increases to help industry pay for that?
Rishi Sunak
I am proud that the minimum wage has gone up significantly this year, which puts £1,000 extra into people’s paycheques. Actually, we have a long-term target to increase it to two thirds of median earnings, which will ensure that it tends to rise faster than inflation in normal times, but I am happy to work with my hon. Friend on making that happen.