Autumn Statement Resolutions

Zarah Sultana Excerpts

Monday 21st November 2022 Commons Chamber

[Zarah Sultana (Coventry South) (Lab)]

Earlier this month, it was revealed that pay for FTSE100 bosses is up nearly 25% this year—their average salary now stands at almost £4 million pounds. Just before that, oil giants BP and Shell announced record quarterly profits of £7 billion and £8 billion pounds respectively. Although billionaires and big corporations are making eye-watering fortunes across the board, the Chancellor is not making them pay for the “difficult decisions” that he says he has to make. His difficult decision is austerity 2.0: slashing £30 billion from public spending, raising taxes on ordinary people, and denying fair pay for nurses and the other keyworkers the Government clapped for. Well, clapping does not pay the bills.

It seems to me that it is ordinary people, never the super-rich, who have to pay for the Tories’ difficult decisions. While the pay of the rich goes up, wages for my constituents go down; while their profits soar, public services crumble, energy bills rocket and millions more face poverty. The truth about the cost of living crisis is that it is not a crisis for their class but for everyone else; it is a crisis not because there is not enough wealth, but because they have hoarded it all. They say that there is no magic money tree, that there is a “fiscal black hole”, and that they have no choice but to unleash austerity—although they have stopped calling it “austerity”—but that is not what senior economists at think-tanks such as the Progressive Economy Forum say.

Even if that were true, there is another way to raise revenue. It is not magic and it does not involve trashing our public services. It is called taxing the rich. Ending the non-dom tax status, which the Prime Minister’s own wife benefited from, would raise £3 billion. Introducing a new 50p tax rate for the highest earners would raise £6 billion. Introducing a 1% tax on wealth of more than £5 million would raise £10 billion. Equalising dividend and capital gains tax with income tax would raise £21 billion. That is how to squeeze the rich, not the people, but of course that is not what the Government are doing. Instead, they will make people pay for yet another crisis. The Chief Secretary shakes his head and looks disapproving, but living standards are set to fall by another 7% over the next two years. Millions more will be in poverty, food bank queues will be even longer and more warm banks will open in our constituencies, while the NHS is in deep crisis. Instead of addressing those challenges, Conservative Members use tried and tested techniques and tactics.

In a very recent debate, the hon. Member for Ashfield (Lee Anderson)—I have notified his office that I would mention him—stated that 5,000 of his constituents were waiting for a council house. But he did not blame his party which has been in government for the past 12 years for selling off millions of council homes and refusing to replace them. He did not blame rip-off landlords or property developers who build skyrises as investments for the super-rich, not as homes for the people. Instead, predictably, he blamed migrants and said that they were at fault. He said that the problem was people coming to Britain for a better life. He is not the only one. Twenty-four hours after a far-right attack on a migrant detention centre, the Home Secretary came to the Chamber and used far-right inflammatory language. It is the old Tory trick: when people are struggling and life gets harder, the party opposite plays divide and rule. Rather than blaming a Government that have gutted our public services and trashed living standards, it chooses to scapegoat.

There is another way, and workers are showing it. From nurses to teachers, cleaners to call centre workers and firefighters to posties, workers are uniting across race and religion, to say enough is enough and to demand their rights. Going on strike is actually a difficult decision. I shall finish this speech by giving my solidarity to all workers who are standing up for their rights, but especially to nurses who for the first time in the Royal College of Nursing’s 106-year history have voted to go on strike, to demand fair pay and the restoration of a properly funded, truly public health service. Victory to the nurses and all workers!