Alison McGovern
Main Page: Alison McGovern (Labour - Birkenhead)Department Debates - View all Alison McGovern's debates with the HM Treasury
(2 years, 3 months ago)
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Kwasi Kwarteng
I would say two things: the reversal of the national insurance increase will mean £330 a year, on average, for 28 million people; and bringing forward the 1p basic rate cut puts £330 into the average person’s pocket. This is not a bankers’ Budget.
Alison McGovern (Wirral South) (Lab)
We have heard a lot of words, but my constituents care about the numbers. They will think that £18 billion is an awful lot of money, so what are they going to get for it? The Chancellor said it will pay for business investment and job creation and will raise wages. I want to know by precisely how much real wages will rise by the end of this forecast period.
Kwasi Kwarteng
This is not the Soviet Union’s Gosplan. I cannot predict what the average wage will be, but I know that one way to destroy the economic productivity of this country is to raise taxes in the way she campaigned for over many years during her Corbynista days, or whatever. That is not the way to grow this country’s economy.