Youth Unemployment and Bank Bonuses

Baroness Clark of Kilwinning Excerpts

Monday 23rd January 2012 Commons Chamber

[Danny Alexander]

I have already given way to the hon. Gentleman and to the hon. Lady, and I want to make some progress.

[Katy Clark (North Ayrshire and Arran) (Lab)]

The right hon. Gentleman will be aware that while the living standards of those on low and medium incomes are going down, the wealth of the super-rich is going up. Will he give an undertaking that he will take action on this issue, and that the gap between rich and poor will be smaller by the next election?

[Danny Alexander]

The Government have taken on the issue of ensuring that the wealthiest pay a greater share, to ensure that there is fairness in our deficit reduction plans. For example, we have increased capital gains tax and put in place the new bank levy that I have mentioned. We have also maintained the 50p rate of income tax. We are making substantial changes to ensure that the wealthiest pay their fair share.