The Growth Plan

Anthony Browne Excerpts

Friday 23rd September 2022 Commons Chamber

[Kwasi Kwarteng]

We are absolutely looking at the childcare issue, and I am sure one of my Cabinet colleagues will update the House on that; we are talking about the heating oil intervention; and we are very willing and eager to engage with Northern Ireland colleagues and friends on working out how we can roll out investment zones in Northern Ireland.

[Anthony Browne (South Cambridgeshire) (Con)]

I strongly welcome this radical and generous package of measures to promote growth and provide support for households. I also welcome the position of the Conservative party as a low-tax party, and join my colleagues in welcoming the cuts in income tax, corporation tax and various other taxes. I particularly welcome the cut in the most economically damaging of all taxes, stamp duty, which is seen as reducing labour mobility and clogging up the housing market. However, groups including the Institute for Fiscal Studies have called for its full abolition to promote economic growth. Will my right hon. Friend go even further, and consider more cuts in stamp duty to reduce the economic damage and the damage to households that it causes?

[Kwasi Kwarteng]

I am grateful to my hon. Friend, whose policy prescriptions are always interesting and valuable. I have only been in post for two and a half weeks, but I should be happy to discuss with him how we can simplify our tax system.