Topical Questions

Part of Oral Answers to Questions — Treasury – in the House of Commons at 11:30 am on 28th January 2014.

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Photo of Edward Balls Edward Balls Shadow Chancellor of the Exchequer 11:30 am, 28th January 2014

Very good, Chancellor—a joke about my name being Balls. Fabulous.

The reality is that business investment is still weak, housing demand is outstripping supply, the savings ratio is falling and the average working person is £1,600 a year worse off than they were in 2010. Let me ask the Chancellor about the one thing he has refused to talk about now for four days. He has delivered one massive tax cut for the richest 1% earning more than £150,000, when everybody else is worse off. The Prime Minister and the Mayor of London are now saying that they want to cut the top rate of income tax again, to 40p. Is that really the Conservative party’s priority? If the Chancellor still believes that we are “all in this together”, why will he not stand at the Dispatch Box and rule out another top-rate tax cut from the Conservatives in the next Parliament? Come on, George: stand up and rule it out.