Economic Update Debate

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Department: HM Treasury

Economic Update

Steve Baker Excerpts
Thursday 3rd February 2022

(2 years, 10 months ago)

Commons Chamber
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Rishi Sunak Portrait Rishi Sunak
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If the hon. Gentleman looks at the remarks I made earlier, he will see that I was clear that there are 400,000 more people on payroll, and that is the right use of that statistic. It is obviously harder to track those in self-employment because we have real-time information numbers from HMRC for those on payroll. We are proud of our track record on jobs. Unemployment in this country was forecast to reach 12%, with millions of people unemployed, but unemployment has now fallen for almost 10 straight months. It is almost back to the record lows we saw pre-pandemic, and we have record job vacancies and record low redundancies. That is all evidence that our plan for jobs is working.

Steve Baker Portrait Mr Steve Baker (Wycombe) (Con)
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As somebody who supported a VAT cut, may I invite my right hon. Friend to confirm that people in Wycombe will receive more help faster under his plan?

Rishi Sunak Portrait Rishi Sunak
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I can give my hon. Friend the reassurance that the vast majority of people in his constituency will receive £350. Those in council tax bands A to D will get £150 in April. That is more than a VAT cut would have given them, and it will come faster. I am grateful to have his continued support.