Ruth Jones
Main Page: Ruth Jones (Labour - Newport West)Department Debates - View all Ruth Jones's debates with the HM Treasury
(1 year, 6 months ago)
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Chris Philp
As I have said, no decisions have yet been taken; that will happen in the normal way in the coming weeks. I have already explained how the minimum wage has gone up and how we have alleviated the burden of taxation on people on lower incomes, but ultimately what will help the hon. Gentleman’s constituents is ensuring that we have a growing economy so that everyone’s wages can go up, which is why we have a growth plan. I think the hon. Gentleman and his constituents can take comfort from, and be happy about, the fact that we have the lowest unemployment for 48 years and the highest growth in the G7. However, we would like to go further to help his constituents, and that is why we have a growth plan.
Ruth Jones (Newport West) (Lab)
My son currently pays £612 a month for his mortgage. Next year, when his fixed rate comes to an end, he will be paying at least £1,300 a month. My daughter, a hard-working junior doctor, cannot even look at buying a property on her salary of £23,000 a year. The stamp duty cut is no help to her.
What this Government are doing is not hypothetical; it is real, and it is affecting people like my son and daughter. The U-turns, tax cuts for the richest and a failed Budget are all signs of a Government who are out of ideas. Will the Chief Secretary tell me why any person in the UK should listen to a single thing they say?
Chris Philp
As I have already explained repeatedly, there is a global increase in interest rates, and as I have also pointed out, the increase in base rates in the United States this calendar year has been 1.5 times higher than the base rate increase in the United Kingdom. We know that people are facing pressures, for the reason that the hon. Lady set out, and also because of energy prices. That is why we have helped with the energy price guarantee. It is why we have put £37 billion towards helping people. It is why we are alleviating the tax burden on people on lower incomes, and it is why we have a growth plan. That is what we are doing to deal with these global pressures, and our plan is designed to help people exactly like the hon. Lady’s children.