Paul Blomfield
Main Page: Paul Blomfield (Labour - Sheffield Central)Department Debates - View all Paul Blomfield's debates with the HM Treasury
(1 year, 7 months ago)
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Kwasi Kwarteng
I do not accept the hon. Gentleman’s proposition that the level of tax is immaterial, I do not believe that we can just tax our way to prosperity in the way that the socialists claim, and I absolutely reject the idea that tax does not incentivise economic activity.
Paul Blomfield (Sheffield Central) (Lab)
After 12 years of Conservative economic failure, the Financial Times reported earlier this week that those on the lowest incomes in the UK are much poorer than their counterparts across the rest of Europe—20% below Slovenia, for example—while those at the top are among the wealthiest. The Prime Minister has said she does not believe in redistribution. The measures announced today suggest she does—but in the wrong direction, taking from those who have the least and giving to those who have the most. Does the Chancellor not recognise that the British people will see it exactly for what it is?
Kwasi Kwarteng
What I do recognise is that socialism and high tax do not work. The hon. Gentleman and others have stood four times on a socialist platform and the British people have rejected them four times, and if they go back to their socialism, they will be rejected once again.