Economic Update
Debate between Siobhain McDonagh and Jeremy Hunt(2 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Jeremy Hunt
As my hon. Friend will know—sorry; my voice is a bit croaky at the moment, because I have probably been talking too much over the last few days—there are very important projects that we all care about a great deal, but given the severity of the situation at the moment, we are not taking anything off the table, whether that means tax increases or spending reductions. But I do not believe that it is possible to have a long-term, credible economic growth strategy that does not recognise the vital importance of capital spending.
Siobhain McDonagh (Mitcham and Morden) (Lab)
Even a screeching U-turn cannot repair the damage when we have already had the crash. When the Chancellor dismantled Trussonomics overnight, why on earth did he decide to carry on boosting bankers’ bonuses in the heart of a cost of living crisis?
Jeremy Hunt
Because the policy did not work, and we will get more tax from rich bankers with the policy that we now have.