Financial Statement

Stephen Timms Excerpts

Wednesday 23rd March 2022 Commons Chamber

[Rishi Sunak]

I thank my hon. Friend for what he has said, and look forward to discussing those topics with him over the coming months. The document outlines a range of options for cutting taxes on investment. Hopefully he will have a chance to digest those, and I look forward to discussing them with him.

[Stephen Timms (East Ham) (Lab)]

The Conservative party introduced universal credit, but instead of uprating it in line with current inflation, the Chancellor has chosen to increase the size of the household support fund. Those who have heard of it have to go to their local councils to receive it. What evidence, if any, does the Chancellor have that the fund is effective in delivering help to the families who need help most?

[Rishi Sunak]

The feedback that I receive from colleagues suggests that it has been effective, and I trust councils to know who are the people in their areas who most need our help. I used to be a local government Minister, and, as the right hon. Gentleman knows, I have enormous respect and regard for local authorities. However, we did not just do that: in the autumn Budget, we gave a £2 billion cut through the tax rate on universal credit to nearly 2 million people on the lowest incomes.