The Growth Plan
Debate between Toby Perkins and Kwasi Kwarteng(1 year, 7 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Kwasi Kwarteng
We do care for the most vulnerable in our society. That is a moral duty of Government and we have announced measures in the energy space that are helping a whole range of people and that are fundamental to the cost of living and tackling bills this winter.
Mr Toby Perkins (Chesterfield) (Lab)
In the time that the Chancellor has been on his feet, the pound has reached its lowest rate against the dollar. The FTSE 100 index is down by 1.7% simply today. When my hon. Friend the Member for York Central (Rachael Maskell) raised this issue with him, he said, “Oh, the markets will react,” as they will. But if the point of his plan for growth is to increase confidence and even the City believes that stuffing the pockets of the very wealthiest, and expecting bankers’ bonuses and oil company profits to lead the rest of us to prosperity, is a bad idea, who is actually on his side?
Kwasi Kwarteng
The growth plan is about growing the economy, and we are not going to grow the economy by increasing taxes indefinitely.