Harriett Baldwin
Main Page: Harriett Baldwin (Conservative - West Worcestershire)Department Debates - View all Harriett Baldwin's debates with the HM Treasury
(11 months, 2 weeks ago)
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Harriett Baldwin (West Worcestershire) (Con)
If the Chancellor had an ambition to spend an additional £28 billion a year on something, will he explain to the House what level of tax that would impose on ordinary households?
Jeremy Hunt
I thank my hon. Friend for asking that question. I am curious to know where that figure of £28 billion has come from, but as she has asked the question, I will tell her that, if we were to stick to the fiscal rules, as the Labour party claims it will do, to increase spending by £28 billion would mean increasing income tax by 4% or increasing corporation tax, which Labour says it will cap, by 8%.