Oral Answers to Questions

Debate between Kerry McCarthy and Nigel Huddleston

Tuesday 7th May 2024 Commons Chamber

[Paul Blomfield (Sheffield Central) (Lab)]

17. What recent assessment he has made of the potential impact of his tax policies on living standards.

[The Financial Secretary to the Treasury (Nigel Huddleston)]

Thanks to a combination of national insurance cuts and above-inflation increases to thresholds since 2010, the average worker on £35,400 will pay more than £1,500 less in personal taxes this year. In addition, maintaining fuel duty rates at their current levels represents a further £13 billion benefit to households over the three years since the introduction of the freeze.

[Kerry McCarthy]

The Minister will know that people are still really struggling with the cost of living crisis. One way that the Government could help is by seeking a bespoke veterinary agreement with the EU. That would not only cut costs for businesses but stop food prices rising even more. A future Labour Government would do that, so why will the Government not commit to it?

[Nigel Huddleston]

The hon. Lady’s first comment was correct: everyone in this House recognises the extreme cost of living challenges over the past few years, and that is precisely why the Government have adopted the strategy of a laser focus on inflation, combined with tax cuts and, recently, national insurance cuts. We have a very constructive and positive relationship with the EU, and are always engaging with it on a variety of matters.