Dan Carden
Main Page: Dan Carden (Labour - Liverpool, Walton)Department Debates - View all Dan Carden's debates with the HM Treasury
(1 year, 7 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Kwasi Kwarteng
The investment zones and our ability to incentivise investment will help a whole swathe of communities across the UK. The reversal of the national insurance increase and bringing forward the 1p reduction will also help thousands and thousands, if not millions, of our constituents.
Dan Carden (Liverpool, Walton) (Lab)
The UK is already a deregulated, low-tax economy with the most draconian workers’ rights in the whole of Europe, in which the richest are well rewarded; it would be bizarre if it were not after 12 years of a Tory Government. However, that has not led to a transformation of skills and training across the workforce; it has not led to rising wages, which are still lower in real terms than they were before 2010; it has not lifted children out of poverty; and it has left us ranking 150th in the world for the investment that the Tories always talk about. Let me ask the Chancellor a very specific question. Will he accept that there is no correlation whatsoever between tax burdens and prosperity across high-income countries?
Kwasi Kwarteng
I do not accept the hon. Gentleman’s proposition that the level of tax is immaterial, I do not believe that we can just tax our way to prosperity in the way that the socialists claim, and I absolutely reject the idea that tax does not incentivise economic activity.