Oral Answers to Questions

Dennis Skinner Excerpts

Tuesday 24th April 2012 Commons Chamber

The Chancellor of the Exchequer was asked—

[Mr Dennis Skinner (Bolsover) (Lab)]

1. If he will consider imposing a further bonus tax on banks to fund job creation for young people who are unemployed.

[The Financial Secretary to the Treasury (Mr Mark Hoban)]

The bank payroll tax is a one-off measure, but the Government have gone further by imposing a permanent bank levy that will raise £10 billion over the course of this Parliament. Those funds will help to pay for the youth contract, introduced this month, which will provide up to 500,000 young people with new education and employment opportunities.

[Mr Skinner]

So the answer is no: they are not going to introduce a bank bonus tax that could provide jobs for 100,000 young people and still leave money to spend on providing a training facility at Markham vale, which would serve all the constituencies of south Yorkshire and the north midlands. What an opportunity! If this posh, arrogant Government will not do that, the next Labour Government will do it for them.