Finance (No. 2) Bill

Debate between Alison Seabeck and Richard Graham

Wednesday 17th April 2013 Commons Chamber

[Alison Seabeck]

I thank my hon. Friend for flagging up what is factually correct and can be substantiated, rather than something resulting from living in some fantasy land of figures, as Government Members seem to do.

The amendment seeks simply to have a review in six months’ time on whether a bank bonus tax within the bank levy would raise significant additional income that could then be reinvested in creating jobs—especially among young people, who have been so hard hit by the Government’s economic failure.

[Richard Graham]

The hon. Lady will have heard the hon. Member for Swansea West (Geraint Davies), her colleague, refer at the end of his very long speech to his belief that people in his constituency are paying more tax as a result of the recent Budget. First, does the hon. Lady believe that her constituents are paying more tax? Secondly, does she know how many people in her constituency are now paying less tax as a result of the changes made in Budgets since 2010? The figure for my constituency is 43,969; I am sure that she knows the figure for hers. Thirdly, how many people in her constituency have been taken out of income tax altogether as a result of the Budget? The figure for Gloucester is 5,000 people; the one for Plymouth will be similar.

[Alison Seabeck]

That is an interesting question and I am delighted that the hon. Gentleman is so well informed about his constituents. However, he seems conveniently to forget that my constituents, like his, are also being hit by increases to VAT, which takes a significant chunk out of their incomes. Furthermore, particularly if they are low-paid workers, they are being hit by a flat-rate pay freeze and in turn by housing benefit changes. I am talking about working members of my constituency. If someone was to knock on the doors of Plymouth, Moor View, that person would find that people said they were significantly worse off and finding life very hard indeed.