Economic Update Debate

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Department: HM Treasury
Monday 17th October 2022

(2 years, 2 months ago)

Commons Chamber
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Jeremy Hunt Portrait Jeremy Hunt
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After my hon. Friend’s generous comments, the answer is absolutely, yes.

Beth Winter Portrait Beth Winter (Cynon Valley) (Lab)
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The Chancellor has raised the prospect of further departmental savings—he means cuts—but from the TUC to the Institute for Government and the Welsh Local Government Association, people agree that there is nothing left to cut. When will the Chancellor listen to the Wealth Tax Commission and others who urge the Government to raise tax on wealth and non-earnings income, rather than decimate public services on which our constituents rely?

Jeremy Hunt Portrait Jeremy Hunt
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We already, with Conservative support, ask wealthier people to pay far more tax than people on low means, but the kind of taxes that the hon. Lady is advocating would destroy the wealth of the overall economy, so we would have less money for the NHS and the people who need it most.