Tim Loughton
Main Page: Tim Loughton (Conservative - East Worthing and Shoreham)Department Debates - View all Tim Loughton's debates with the HM Treasury
(9 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
We have increased the personal allowance, taking low-paid people out of tax, and we are now introducing a national living wage, but we make no apology for supporting aspiration and the human instinct that people have to pass something on to their children. If the Labour party is against that as well, it really is moving backwards rather than forwards.
Tim Loughton (East Worthing and Shoreham) (Con)
T4. The Chancellor’s announcement on the living wage was widely welcomed, but what assurances can he give to residential care homes that offer subsidised places, of which there are many in Worthing, which will suffer from the proposed changes but will not benefit on the other side from the record reductions in corporation tax?
Mr Osborne
The reduction in corporation tax now applies to small companies as well as larger ones, and we have increased the employment allowance, which will help with the national insurance bills of companies in my hon. Friend’s constituency. We are of course aware of the pressures on the social care system, and that is one thing we will address in the spending review.