The Growth Plan
Debate between Jess Phillips and Kwasi Kwarteng(2 years, 3 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Kwasi Kwarteng
I was very focused on small modular reactor production when I was BEIS Secretary, as my hon. Friend knows, and I want to bring the thinking about that into the heart of the Treasury. There are still negotiations to be had, but he is absolutely right that SMRs and nuclear are part of our energy mix in the future.
Jess Phillips (Birmingham, Yardley) (Lab)
Can the Chancellor just confirm for me that he has announced a tax cut that means someone earning £1 million will be £40,000 better off—more than a nurse earns, and £10,000 more than the average wage in Birmingham?
Kwasi Kwarteng
What I will confirm is that the top rate of tax has gone back to what it was before the hon. Lady entered the House, when the Labour party was successful and winning elections. That was the top rate for 20 years, and that is what we have gone back to.