Economy Update Debate

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Department: HM Treasury

Economy Update

Joy Morrissey Excerpts
Wednesday 16th June 2021

(2 years, 10 months ago)

Commons Chamber
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Steve Barclay Portrait Steve Barclay
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Today’s announcement clearly pertains to commercial rents. Of course, colleagues continue to listen to Members from across the House on other issues as they arise. I am very happy to have further discussions with my hon. Friend.

Joy Morrissey Portrait Joy Morrissey (Beaconsfield) (Con)
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I thank my right hon. Friend for the assistance and tax cuts that he has given to businesses. Unlike Opposition Members, I will not demand additional spending and borrowing: does my right hon. Friend agree that we must come to grips with our level of borrowing and spending? We must have sound financial management moving forward out of the pandemic. Will he confirm that the Government have firm plans to do that?

Steve Barclay Portrait Steve Barclay
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I strongly welcome my hon. Friend’s question. She is absolutely right to focus on that. That is why, at the Budget, my right hon. Friend the Chancellor announced key measures such as maintaining the level of personal tax thresholds until 2025-26 and increasing the main rate of corporation tax. It is important that we take measures to protect the public finances and get them back on to a sustainable path in the medium term. She is absolutely right to highlight that important issue.