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Finance (No. 3) Bill

Part of the debate – in the House of Commons at 5:16 pm on 12th November 2018.

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Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General 5:16 pm, 12th November 2018

My hon. Friend is entirely right. Let us take employment: in this country we have a near record level of employment, we have a near record number of women employed, and we have the lowest level of unemployment since the 1970s. What is Labour’s record? Every single Labour Government in history have left office with unemployment higher than when they started. That is a simple fact. [Interruption.] It may be an inconvenient one, but it is a simple fact none the less.

The tax cut in the Bill is worth £9.5 billion. That means more money in people’s pockets. Since 2015, some 1.7 million more people have been taken out of tax altogether. The saving to the average taxpayer has been more than £1,200 since 2010.