Economic Situation Debate

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Department: HM Treasury

Economic Situation

Jim Shannon Excerpts
Wednesday 12th October 2022

(2 years, 2 months ago)

Commons Chamber
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Chris Philp Portrait Chris Philp
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If the hon. Gentleman thinks it was all so disastrous, perhaps he could explain why he voted for it last night. The real gamble is having taxes that are too high. The real gamble is not having a plan for growth. This Government have a plan for growth; the Labour party has no plan.

Jim Shannon Portrait Jim Shannon (Strangford) (DUP)
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Will the Minister outline the specific help that is available to the working poor? They face not simply energy increases but mortgage increases, and increases in the cost of diesel and petrol just to get to work to actually earn some money, and the price of groceries is 15% higher. While those people’s top-line income does not qualify them for universal credit, the present circumstances must surely call for assistance. Will the Minister tell me and the House where that help will come from?

Chris Philp Portrait Chris Philp
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We certainly do stand with the working poor. That is why we have increased the thresholds to ensure that people on lower incomes pay very little income tax and national insurance. It is why we froze petrol duty, and, indeed, cut it by 5p earlier this year. It is why we have increased the national minimum wage by such a large amount, from just £5.93 an hour under the last Labour Government to £9.50 an hour today. So we do stand on the side of the working poor, and I will certainly continue to work with the hon. Gentleman to ensure that his constituents are looked after and protected in the years ahead.