Oral Answers to Questions

Dan Carden Excerpts

Tuesday 28th June 2022 Commons Chamber

[Rishi Sunak]

My hon. Friend is without doubt the House’s expert on that matter. I am pleased that the Government have listened to him. I still have the brochure he first gave me with the marvellous pictures of the custom self-build—in Switzerland, I think. There is a £1.8 billion fund, I believe, within the home building programme, and a good chunk of that will go to support exactly what he said: more homes, quicker homes and cheaper homes for all our citizens.

[Dan Carden (Liverpool, Walton) (Lab)]

7. What recent fiscal steps he has taken to help reduce economic inequality.

[The Economic Secretary to the Treasury (John Glen)]

The Government understand that millions of households across the UK are struggling to make their income stretch to cover the rising cost of living. As part of the £15 billion support package being provided by the Government, almost all the 8 million most vulnerable households across the UK will receive support of at least £1,200 this year, including a new, one-off £650 cost of living payment.

[Dan Carden]

The Economic Secretary will know that Her Majesty’s Revenue and Customs payroll data shows that the pay of the top 1% rose three-and-a-half times faster than the pay of those in the bottom 10%, whose meagre pay increases have already been wiped out by inflation and price rises. When we look at wealth, during one year of the pandemic each UK billionaire saw their wealth grow by £630 million on average. While the rich get richer, the working-class communities I represent get poorer. When will the Treasury look at raising taxes on the highest incomes and taxing the wealth of billionaires in order to invest in communities and UK infrastructure?

--- Later in debate ---

[The Chief Secretary to the Treasury (Mr Simon Clarke)]

My hon. Friend is a fantastic champion for his region and his support for a freeport on the Humber has been noted across Government. We are of course investing in our levelling-up programme, which has a direct bearing on areas such as the Humber. Crucially, we want to advance devolution within England to allow areas such as his to reap the full rewards and take full control of this exciting opportunity.

[Dan Carden (Liverpool, Walton) (Lab)]

T4. Recently, it was revealed that Her Majesty’s Revenue and Customs is failing to use the third-party data information that we get through international agreements to investigate how much tax is being evaded through offshore assets. Given that £850 billion is held offshore, with two thirds of it stashed in known tax havens, either Ministers are content for the super-rich to evade paying their fair share in the knowledge that their offshore wealth is not being systematically checked, or they will direct HMRC to use this reporting data, as is done in the US and Denmark, to uncover tax evaders. Which is it?

[The Financial Secretary to the Treasury (Lucy Frazer)]

I am proud that HMRC is a leader in tax transparency, has a number of double tax treaties and co-operates with a large number of countries and international organisations to share tax information to ensure that people pay their fair share.