Tulip Siddiq
MP for Hampstead and Highgate · Labour · United Kingdom
“While I recognise this was not the main part of the Foreign Secretary’s statement, I thank him for raising the plight of British Jewish children who are fearful going to school. As he will know, a lot of British Jewish children live in my constituency, and their safety is my main priority.”
“The hon. Member said that he wanted to take interventions. He mentioned schools. On my way into Parliament today on the Northern line, which appropriately for today’s debate was boiling, I received a number of emails from worried parents.”
“One of my constituents is a former care leaver who is facing immense health conditions and he can no longer work. Given the lack of family and social support that many care leavers experience, they are uniquely vulnerable to financial insecurity.”
“On a point of order, Madam Deputy Speaker. During Prime Minister’s questions today, the Leader of the Opposition called the Secretary of State for Education a “spiteful class warrior”, and previously she has compared her to a Gestapo officer.”
“Could I ask your advice, Madam Deputy Speaker, on whether the language used by the Leader of the Opposition today towards the Secretary of State for Education—a woman who grew up in poverty on a council estate, was raised by a single mother and was on free school meals, and worked her way up to the Cabinet—is appropriate to be used in the…”
“As you will be aware, Mr Speaker, Monday was Windrush Day, founded by Patrick Vernon to celebrate the contribution of migrants to our community. Will the Prime Minister outline exactly what this Government are doing to recognise and serve the Windrush generation, who did so much to play a vital role in our country’s history?”
The complete record
Every one of 608 lines we hold for Tulip Siddiq, in date order, each linked to its source. Free to read, in full, without an account. Page 9 of 13.
“The Opposition support the changes that will assist with compliance checks by making online applications equivalent to paper applications. Has the Minister considered adding the online application as a service to the agent services accounts so that an agent can prepare and submit the claim on behalf of their client? We also support the provisions for modifying the application of VAT for terminal markets, as that will allow for further reforms such as bringing trades in carbon credits within the scope of the Value Added Tax (Terminal Markets) Order. We feel that is a vital and necessary step in developing this important market. We support the changes to legislation that governs the interaction between late payment interest and repayment interest for VAT.”
“This clause is so uncontroversial that we give it our full support. For the first time, I agree with everything the Minister has said, and the Committee will be happy to know that I have no further questions for him. Question put and agreed to. Clause 24 accordingly ordered to stand part of the Bill. Clause 25 Interpretation Question proposed, That the clause stand part of the Bill.”
“However, I am sure the Minister will be aware that the sector still has concerns that the existing language creates some uncertainty. Does the Minister share those concerns, and has he raised the matter with the PRA? Many of the industry’s concerns regarding risk retention and credit granting were not addressed in the current version of the rules, so will the Treasury be working with regulators to ensure that these concerns are taken into account with future policy developments? Finally, in terms of next steps, which the Minister did outline, the FCA and the PRA expect to consult on further changes to their securitisation rules in Q4 2024 and Q1 2025. How confident is the Minister that these timelines will be met?”
“It is a pleasure to serve under you, Madam Chair. I thank the Minister for setting out the purpose of the statutory instrument before us today, which is complementary to the Securitisation Regulations 2024, which we debated in January. We supported those regulations in January and we will be supporting the ones before us today. We feel that these form part of an important package of reform aimed at developing a securitisation market in our country that contributes to growth in the real economy. I have a couple of questions, which are based on the specific measures introduced by this SI. I welcome the fact that the PRA listened to our objections during its consultations and restored the existing language to do with confidentiality.”
“Can he set out exactly what my constituents—British citizens living in Hampstead and Kilburn who have immediate family in Rafah—should say to their terrified and vulnerable relatives, as well as any Government assessment of what support these immediate family members of British citizens should be entitled to? I am sure that people in the Chamber, which is packed, know that my constituent’s family are not alone.”
“It is not clear what someone in that position should do. They are ultimately being forced to consider extremely risky and extortionate routes, because there are simply no other options available. There is no way of knowing the legitimacy of such routes, or of guaranteeing that they will get them to safety. Even then, they are an option only for people who can get hold of that extortionate amount of money. Does the Minister have any information about using such private companies as a route out of Gaza, and can he share the official Foreign Office advice regarding the companies?”
“This seems to have been done without any understanding of the complete impossibility of getting out of Gaza, and it is clear that families like the one I am talking about cannot access these centres, meaning that the Government’s advice is completely unrealistic. Although I appreciate the detail of the Government’s answer, it is sadly nothing close to a solution for this family. Does the Minister have any practical advice that desperately worried family members in the UK can pass on to immediate family members who are going through this trauma? That desperation has led other constituents in similar situations to ask me for advice on paying up to $5,000 per person to a private company in Egypt to get family out of Gaza. The companies have put their prices up fourteenfold since outbreak of the conflict. That is complete exploitation.”
“We know that the humanitarian situation in Gaza is catastrophic. My constituent is desperately worried about the safety of his brother and the young family, and he has been doing all he can to try to enable them to move to this country and be with their immediate family members. I wrote to the Home Office about the situation, and am grateful for the speedy response I received, but the reply made how desperate the situation is even clearer. The Government’s answer was to inform my constituent that the visa application centre in Gaza is closed, and to pass on the opening hours of the centres in Ramallah and Jerusalem.”
“Let me turn to a constituent of mine, whose brother’s family have been forced to leave their home in southern Gaza after it was destroyed by aerial bombardment due to the fighting in the area. He moved with his wife and his four children—the youngest is primary school age—because he could not live there any more and it was too dangerous. They arrived in Khan Yunis and were forced to flee once again, with the four small children, to the border in the city of Rafah due to the extension of the aerial bombardment to that area. The family are now living without access to water, food or basic hygiene facilities, and my constituent is receiving regular updates from his brother, who describes bombs landing less than 1 km away from where he is sheltering with his wife and young children.”
“I thank my hon. Friend the Member for Lancaster and Fleetwood (Cat Smith) for leading the debate. She has championed the cause of Palestinian people since we served in Young Labour maybe 20 years ago, and I am really pleased to see that she is still championing this cause in the Chamber—maybe I have given away how old we are. Before I speak about a specific case that I want to draw to the Minister’s attention, I pay tribute to the bravery of those who have been living in Gaza throughout the conflict. As my hon. Friend the Member for Blackburn (Kate Hollern) said, everyone has seen the appalling scenes on TV, but whereas we go about our everyday lives, that is the reality for the people who are living there. I hope that, when making policy and speaking in the House, we remember the trauma and conflict that they are going through every day.”
“Finally—I know that lots of people want to speak—we know that almost no aid is entering northern Gaza, and it is vital that aid is allowed in as quickly as possible. The bleak picture in Gaza is the situation of my constituent’s family right now, and I am desperate to help them. We need the UK Government to take the strongest possible position to ensure that we get an immediate ceasefire. We also need the Minister—I know that he will listen to this debate—to look seriously at the desperate situation that people are in; they have no one to turn to. I look forward to hearing the Minister’s advice on what I should say to my constituent, who is desperately worried about his immediate family, who are living in a war zone when they could be joining their brother and his family in Hampstead and Kilburn.”
“Everyone in this Chamber will agree that the fighting needs to stop. There must be a ceasefire, the immediate release of hostages and a serious political process towards a two-state solution. International law must be upheld, and it is has been deeply shocking to see reports that indicate that it may have been breached. The Government must ensure that Israel is complying with international law, as well as with the provisional measures set out by the International Court of Justice in January. Ministers have a duty to ensure that the UK Government themselves are fully compliant with international law when it comes to the clear licensing criteria that apply to arm sales to Israel, given the developments in this conflict.”
“I thank my hon. Friend for his intervention. My mother came to this country as a political asylum seeker in the 1970s, because this country—our country, of which we are proud—has always been seen as a safe haven for people who are escaping conflict or places that are too dangerous to live in. We now need to show the same compassion to people who are fleeing unimaginable situations and trauma. I hope that the Government will listen—I know that the Minister will—when we say that the advice that we have been given is not realistic on the ground. We need practical advice that we can give to our constituents, who are constantly writing to us, petrified about their immediate family members. Nearly 75% of Gaza’s total population has been displaced by this terrible conflict, and over 33,000 people have been killed.”
“We therefore fully support the proposals and for once, I do not have a host of questions for the Minister. Question put and agreed to.”
“It is a pleasure to serve under your chairmanship, Sir Graham. We welcome this draft statutory instrument. The changes are part of the IMF’s worldwide resolution to change its funding model to reduce the level of IMF temporary loan facilities, and will increase the funding provided through the quota system to the same extent, as the Minister explained. We believe that the changes serve to make the IMF stronger and more legitimate, and are key to ensuring economic stability. The official Opposition are completely committed to such stability, which is underpinned by strong fiscal rules, robust independent institutions—the Treasury, the Bank of England and the Office for Budget Responsibility— and international economic institutions such as the IMF, which promote financial literacy, stability and monetary co-operation.”
“Since 2022, almost 400 communities have lost their local bank branch, which has had a devastating impact on local and small businesses. Despite witnessing the decline of the British high street, the Government have been dragging their feet on rolling out banking hubs, which would help local and small businesses. Will the Minister finally back the Labour party’s plans to provide a banking hub in every community that needs one?”
“Yes. In his response to me, the Exchequer Secretary said, “Any area that loses bank branches is entitled to get a banking hub”, but I have numerous examples of towns that lost bank branches, applied for a banking hub and then had their application rejected. Please could you advise me, Mr Speaker, on how I can get some clarity on this matter and what the Minister said about “any area that loses bank branches”?”
“In contrast, the Labour party’s offer to the country will be carefully costed and fully funded, and we will always put working people and British businesses first. The Government have failed to reduce the tax burden, failed to boost business investment, and delivered only stagnation and chaos, whereas our economic plan is built on the pillars of stability, investment and reform: stability brought about by iron discipline, and guarded by strong fiscal rules, robust economic institutions and certainty on corporation tax; investment, working with the private sector, so that we can lead the industries of the future and make work pay; and reform, starting with our planning system, to tackle vested interests. The British people deserve better than this. The British people deserve change.”
“Likewise, we are committed both to strengthening the windfall tax to raise more revenue to support our country’s energy transition, and to giving as much certainty as possible to the companies affected. That is why our shadow Chancellor has made it clear that, under Labour, our one-off, time-limited energy profits levy will cease to apply by the end of the next Parliament. We will not be opposing the Bill today, but we will be looking closely at the detail in the specific clauses in the coming weeks. However, let us be under no illusions: this is an exhausted and directionless Conservative Government who are out of ideas and out of time. All they have to offer are U-turns, unfunded promises and an ever-growing tax burden on working people and our constituents.”
“If not, will he accept that the Conservatives are once again putting the interests of non-doms before those of ordinary British taxpayers and British businesses? Let us take corporation tax, which clause 12 sets at 25%. All this Chancellor has had to offer British businesses is uncertainty. Despite promising to cut corporation tax from 19% to 15% in his 2022 leadership bid, he has increased it from 19% to 25%. In contrast, our shadow Chancellor has committed to capping the headline rate of corporation tax at its current rate for the whole of the next Parliament, and we would take action if tax changes in other advanced economies threatened to undermine UK competitiveness. The Opposition will be supporting the energy security investment mechanism in clause 19 of the Bill before us, as it will help investors get the confidence they need.”
“I am delighted to say that the Prime Minister and the Chancellor have finally come around to the Labour party’s way of thinking, but it is not quite what it seems. I am not denying that Conservative Members have come a long way after years of opposing our plan to scrap the non-dom status, but there are still some gaping loopholes in the Government’s plans. The discount in year 1 is unnecessary and unjustified, and particularly concerning is the loophole that will allow non-doms to exploit offshore trusts so that they can avoid inheritance tax. As my hon. Friend the Member for Ealing North made clear, these loopholes must be closed. I hope that the Minister, when he responds, will commit to closing these loopholes, so I wait with bated breath to hear what he has to say on this policy.”
“For every £5 that the Government are giving back to families, they will be taking an average of £10 in higher taxes under their plans, and they expect the British public to thank them for it. While we will always call out the Conservatives for pickpocketing the British taxpayer, we do welcome their recent pickpocketing of Labour policies. Labour has long argued that if people make Britain their home, they should pay their taxes here too. However, the Prime Minister himself has said that scrapping the non-dom tax status would somehow end up costing Britain money, and the Chancellor previously tried to argue that the non-dom status supports jobs and that reforming it would damage long-term growth.”
“That is why we opposed the current Prime Minister when he wanted to increase national insurance two years ago, and it is why we supported the measures announced last month to bring national insurance down by an additional 2p. Although on the surface this Bill leaves the basic and higher rates of income tax unchanged, let us be clear: this is a Government who have raised the tax burden to record levels, and taxes are continuing to rise. Because of the tax choices that this Chancellor has made, households will be, on average, £870 worse off. His decision to freeze tax thresholds will create 3.2 million new taxpayers by 2028, and 2.6 million more people will be paying higher rates.”
“Unable to defend his own Government’s record, and unable to offer any plan to get the country out of the economic mess that his party has created, this Chancellor has resorted to undeliverable promises. The Chancellor ended his Budget last month with a £46 billion unfunded tax plan to abolish national insurance, which would put our economic stability at risk. That is even bigger than the unfunded tax cuts announced by the right hon. Member for South West Norfolk (Elizabeth Truss) in her Budget, which added hundreds of pounds to people’s mortgages. In contrast, the Labour party has consistently said that we would reduce the tax burden on families.”
“As my hon. Friend the Member for Ealing North (James Murray) set out in his opening speech, this Finance Bill and last month’s Budget are nothing but the last gasps of a dying, desperate Government. Neither does anything to address 14 years of Conservative economic failure, and as always with this Government, it is working people who pay the price, because taxes are still rising. The British people, already facing the highest tax burden in 70 years, will see tax rises in every single year of the forecast period. As much as the Government try, they simply cannot hide from that record: after a decade and a half of Conservative rule, people have less money in their pockets.”
“However, as the Minister may have seen in the Financial Times last August, UK challenger banks have faced multi-year delays to regulatory approvals, which has undermined the potential boost to competition in the market. Has the Treasury given any thought to whether section 138BA could be used to speed up the IRB model approval process for mid-tier banks currently on the standardised approach? I believe—and the Minister may agree—that that could dramatically improve competition in the banking market.”
“It is a pleasure to serve with you in the Chair, Mrs Cummins. The Opposition are supportive of the proposed changes, which would enact section 138BA to enable the PRA to more easily adapt, disapply or modify its rules for individual firms. The greater flexibility the Minister outlined is welcome, but could a similar approach be used to clear the logjam of mid-tier banks wanting to use the internal ratings-based approach? The PRA has helpfully provided some flexibility in relation to IRB model approvals, which could narrow the capital requirements gap between mid-tier and large banks, therefore improving competition in UK banking markets.”
“I thank the Minister for that answer, and I understand what he is trying to say, but I would like to push this point. If we could speed up the IRB model approvals process for mid-tier banks currently on the standardised approach, that would help our country and the banking market generally, and both sides of the House obviously want to boost competition. I understand that that is not what this particular legislation will do, but have the Minister or the Treasury given any thought to the issue? In the long run, such a change would benefit the financial services sector.”
“The tax burden is at a record high, wages are stagnant, rents and mortgages are up by hundreds of pounds, and food prices have gone up by 25%. The Resolution Foundation has confirmed that this is the only Parliament on record during which living standards have fallen. Our constituents deserve better. When is the Minister going to give the British public a chance to vote for change and call for a general election?”
“I look forward to the Minister’s response, because I am sure he will break down exactly where that £46 billion will come from.”
“Rather than people being £900 better off, as the Conservatives claim, household income is set to fall by £200 over the course of this Parliament. A week ago, the Chancellor had the opportunity to deliver a Budget that would finally break our country out of the low-growth, low-wage, high-tax cycle that we have been trapped in because of 14 years of economic failure. The British people needed a Budget for the long term to bring prosperity and rebuild our public services, and yet the Chancellor ended his Budget with a £46 billion unfunded tax plan to abolish national insurance. That would leave a gaping hole in the public finances, put family finances at risk and create huge uncertainty for pensioners. I have not heard one attempt from the Government Benches to explain where that money will come from.”
“His decision not to increase tax thresholds in line with inflation means that the tax burden is forecast to rise by another £41.1 billion over the next five years. That fiscal drag will create 3.7 million new taxpayers by 2028-29. OBR figures show that for every 10p extra that working people pay in tax under this plan, they will get back only 5p as result of the combined cuts to national insurance contributions. As usual, the Conservatives give with one hand, and take with the other, and they expect the British public to be grateful. Paul Johnson, the director of the Institute for Fiscal Studies, said after last week’s Budget that “this remains a parliament of record tax rises”, and that is before we consider the rising cost of bills, with food prices up by 25%, rents by 10% and mortgages by an average of £240 a month.”
“Indeed, this will be the only Parliament on record in which living standards have fallen. Unwilling and unable to fix the economic mess that they have created, the Government have resorted to empty promises—pledge after pledge, but never a plan. Last week, the Chancellor made a £46 billion unfunded promise to abolish national insurance altogether, with no explanation of how he would pay for it. I look forward to the Minister explaining in his speech exactly how it will be paid for. The British people are sick and tired of Conservative spin. Let us take the Government’s claim that a person on average earnings will be £900 better off as result of this national insurance cut, when combined with the changes made in January. That completely ignores the Chancellor’s own stealth tax rises.”
“Thank you, Mr Deputy Speaker. Labour will always support policies that ease the burden on working people. Labour has said consistently that we want taxes on working people to be lower. That is why, two years ago, when the current Prime Minister wanted to increase national insurance, we opposed it. That is why we supported the cut to national insurance last autumn and why we will support these measures we are debating to bring down national insurance by a further 2p. Let us be clear, however, that the measures come in the context of the highest tax burden on working people since 1949—a tax burden that is continuing to rise. The British public face not just further tax rises, but stagnant growth and wages, prices still going up in the shops, and higher mortgages and rents.”
“I hope that he will finally break with his party’s irresponsible promises and endless spin. I hope that he will be honest and say that, as a result of decisions taken by his Government, the tax burden on working people is forecast to go up each year over the next five years, and that for every 10p extra that working people pay in tax under the Conservatives, they will get only 5p back. Most importantly, I hope that he takes the opportunity to be straight with the British people, as we have repeatedly asked him to do, by setting out exactly how his Government will pay for their unfunded £46 billion promise to abolish national insurance.”
“The Chancellor’s commitment last week exposed a Conservative Government who are putting party first and country second. Labour is under no illusions about the state of the public finances after 14 years of Conservative government. We know that if we are elected at the next general election, we will have to take tough decisions in government, but instead of the chaos and recklessness we have seen under the Conservatives, Labour will bring stability and security back to the economy. We will never make a commitment without first saying where the money will come from. We will always be honest with the public because that is the responsible approach. I hope that the Minister, whom I like very much, will finally come clean with the British people in his response.”
“I will not take any lectures from a party that puts oil and gas companies ahead of working people. If the hon. Member wants to change his policy on oil and gas companies having priority over working people, he can intervene again, but somehow I do not think that it will change. The last time the Conservatives implemented a proposal like this, just 18 months ago, they crashed the economy. In fact, the Chancellor’s plan to abolish national insurance contributions would cost more per year than the proposals in that disastrous mini-Budget. The Conservatives might deny it, but millions of people are still paying the price of their last ideological experiment: the typical family faces an extra £240 a month when remortgaging this year.”
“No, I am finishing. The British people deserve better. This is just another Conservative pledge without a plan. The Conservatives should call a general election now.”
“Government debt has almost tripled under the Conservatives from £1 trillion to just under £2.6 trillion. Did last week’s Budget give the British people or British businesses any hope that the Government could turn things around? Absolutely not. Household disposable income is set to fall by £200 per person over the course of this Parliament. Real GDP per capita is expected to be lower at the end of this year than it was at the start of this Parliament, and borrowing has been revised up in the next five years of the forecast period. The Institute of Directors described the Chancellor’s efforts as an “unremarkable Budget for business”, and the British Retail Consortium has said that it “will do nothing to turbo charge investment and growth in communities”. This was a failed Budget from a failing Government.”
“Let me repeat that, because it is worth repeating: this will be the worst Parliament on record for living standards. It is the only Parliament on record in which living standards have fallen. Real pay has gone up by just £17 a week over almost a decade and a half of this Conservative Government. When the Labour party was last in power, wages rose by £183 a week over 13 years. After 14 years of Conservative rule, people have less money in their pockets. As my hon. Friend the Member for Bedford (Mohammad Yasin) touched on, the latest ONS figures show seven consecutive quarters of falling GDP per capita from the start of 2022. This is the longest period of economic stagnation in this country since the 1950s, and now, under this Prime Minister and this Chancellor, the country has fallen into recession.”
“Rents are up by 10%, and a typical family will pay an extra £240 a month when remortgaging this year. Nothing the Chancellor said in last week’s Budget changes that. As much as he tries, he cannot hide from his Government’s record: 14 years of low investment, stagnant wages and poor productivity, the country in recession, wrecked public finances and an economy crippled by debt. The Chancellor tried to wash away the realities last week, but families in our constituencies cannot do the same. People feel worse off under the Conservatives because they are worse off. As my hon. Friend the Member for Liverpool, Walton (Dan Carden) focused on, the Office for Budget Responsibility—not us—has now confirmed that this will be the worst Parliament on record for living standards.”
“This Budget was the last gasp of a dying, desperate Government. It did nothing to address 14 years of Conservative economic failure and, as always with this Government, it is working people who pay the price. Many Opposition Members have made powerful contributions to today’s debate, and I apologise for not being able to mention every single one. However, I pay tribute to my hon. Friend the Member for Huddersfield (Mr Sheerman), who said it was his last ever Budget speech today. The British people are struggling with the highest tax burden in 70 years, and they still face further tax rises over the next five years—a point that was powerfully made by my hon. Friends the Members for Tamworth (Sarah Edwards) and for Newport West (Ruth Jones). Food prices are still 25% higher than they were two years ago.”
“This is even bigger than the unfunded tax cuts announced in the Conservatives’ mini-Budget that added hundreds of pounds to people’s mortgages, as my hon. Friend the Member for West Ham (Ms Brown) powerfully pointed out. I will be listening intently to the Minister’s response today, and I hope that he will set out how his Government would fill that gaping hole in the public finances to avoid rerunning the disastrous experiment that crashed the economy just 18 months ago.”
“I thank my hon. Friend for her intervention. Those on the Conservative Benches do not want to hear it, but if they have so much confidence in their record, why do they not do as she asks, call a general election and put a test to the public? Unable to defend his own Government’s records and unable to offer any plan to get the country out of the economic mess that his party created, this Chancellor has resorted to undeliverable promises. When we thought things could not get any worse, the Chancellor bizarrely ended his Budget last week with a £46 billion unfunded tax plan to abolish national insurance. This would leave a gaping hole in the public finances, put family finances at risk and create huge uncertainty for our pensioners.”
“The Conservatives have failed on growth, failed on living standards and delivered only stagnation and chaos. Labour’s economic plan will build on the pillars of stability, investment and reform: stability brought about by iron discipline and guarded by strong fiscal rules and robust economic institutions. [ Interruption. ] Conservative Members love chuntering, but they would hear our plan if they listened properly. Investment—we will work with the private sector so that we can lead the industries of the future and make work pay. Reform—starting with our planning system, we will take on vested interests to get Britain building again. Britain deserves better, Britain deserves change and the British people deserve an election.”
“I do not deny that the Conservative party has come a long way since their opposition to our windfall tax on oil and gas producers but, even after yesterday’s announcement of a one-year extension, the Chancellor is leaving loopholes that mean the energy giants will still pay billions less in tax. Surely the Government have learned by now that they would save themselves a lot of time, and the country a lot of money, if they adopted Labour’s policies in full. This exhausted and directionless Conservative Government are out of ideas and out of time. All they had to offer last week were unfunded promises and an ever growing tax burden on working people. In contrast, our offer to the country will be carefully costed and fully funded, and it will always put working people first.”
“Even more bizarrely, the Chancellor previously tried to argue that the non-dom status supports jobs and that reforming it would cause long-term damage to growth. I hope the Economic Secretary to the Treasury will explain what caused this road to Damascus moment. Is he personally responsible for finally getting his party to listen to us about the importance of closing the non-dom loophole, which the OBR estimates will raise £3 billion a year? As my right hon. Friend the Member for Walsall South (Valerie Vaz) and my hon. Friend the Member for Wakefield (Simon Lightwood) said, Labour first called for the loophole to be closed two years ago, meaning that the Government have cost the country £6 billion that could have been spent on precious public services.”
“Friend the Member for Nottingham South (Lilian Greenwood) pointed out, OBR figures show that, as a result of last week’s announcements, for every 10p extra that working people pay in tax under the Conservatives, they will get only 5p back. And the Government expect the British public to thank them for it! However the Chancellor tries to spin it, his Budget means that Britain will go into the next general election with taxes at their highest level since 1949. Although we will always call out the Conservatives for pickpocketing the British taxpayer, we welcome their recent pickpocketing of Labour policies. Labour has long argued that people who make Britain their home should pay their taxes here. Bizarrely, however, the Prime Minister said that scrapping the non-dom status would somehow cost Britain money.”
“Turning to the other tax cuts in the Budget, Labour has consistently said that we want to reduce the tax burden on working people. That is why, when the current Prime Minister wanted to increase national insurance two years ago, we opposed it. Let us be under no illusions: we support the measures announced last week to bring national insurance down by an additional 2%, but that does not change the fact that this Government have raised the tax burden to record levels and taxes are continuing to rise. Under the Chancellor’s plan, households will be £870 worse off on average. His decision to freeze tax thresholds will create 3.7 million taxpayers by 2028-29. As my hon.”
“Apologies, Mr Deputy Speaker. I will answer both interventions by saying that I know those on the Conservative Benches do not want to hear it, but if you make a pledge without the plan, you have to clarify where the money is coming from— [ Laughter. ] It is not a laughing matter. It is causing havoc in people’s finances. Then again, nothing would surprise me from this clown show of a Government. Less than a week after committing to a British ISA, the Chancellor has apparently U-turned and ditched the plan until after the election, because he has apparently just noticed that he has no idea how he is going to pay for it. Another U-turn, another uncosted announcement, another promise without a plan from this clueless Conservative Government.”