Oral Answers to Questions

Bill Esterson Excerpts

Wednesday 14th March 2018 Commons Chamber

[The Prime Minister]

I am very happy to join my hon. Friend in wishing all the very best to the Zephyr team in the attempt that they are making. He is right that his constituency plays a crucial role in the aerospace industry. I am pleased to say that we are continuing to work with that industry through the aerospace growth partnership to ensure that we can further enhance the industry. We wish the Zephyr team well.

[Bill Esterson (Sefton Central) (Lab)]

Q5. The UK has the lowest growth in the G7. Why is the Government’s answer to that to give handouts to some of the wealthiest bankers, to fund an already lavish lifestyle, paid for by taking the crumbs off the table of those on universal credit, whose children depend on free school meals?

[The Prime Minister]

First, the hon. Gentleman might not have noticed but the wealthiest 1% of people in this country are now paying a bigger share of tax—28%—than they ever did under a Labour Government. If he is referring to the bank levy, may I also say to him that the Conservative party introduced the bank levy, which has raised £15 billion and is predicted to raise a further £11 billion that we can spend on public services. It is the Conservative Government who are changing the way we do it, so that we do it in a better way. We will be raising nearly £19 billion extra from the banks over the next five years—that is £3 billion more from the banks to be spent on public services.