Economy Update

Patricia Gibson Excerpts
Thursday 26th May 2022

(1 year, 11 months ago)

Commons Chamber
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Rishi Sunak Portrait Rishi Sunak
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That is why, as well as the very generous support for those on means-tested benefits, we have put in place universal support to ensure that all households receive an extra £200 on top of the £200 we have announced. That will help those people, as will the discretionary fund that we have established.

Patricia Gibson Portrait Patricia Gibson (North Ayrshire and Arran) (SNP)
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It is right that those companies making billions in excess profits should contribute more tax in these difficult times, and the Chancellor recognised that today by announcing a windfall tax on oil and gas companies. Disappointingly, Labour has been strangely silent on the huge profits made by other big businesses such as Amazon, even though that company’s tax-to-turnover rate is a shameful 0.37%. Can the Chancellor tell us why large corporations such as Amazon, which made billions during the pandemic, are not subject to this windfall tax? If they were, more help could be given to more people.