Reducing Economic Inequality

Part of Treasury – in the House of Commons at 11:36 am on 17 May 2022.

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Photo of Jeff Smith Jeff Smith Shadow Minister (Digital, Culture, Media and Sport) 11:36, 17 May 2022

The New Economics Foundation says that recent measures such as the fuel duty cut and the national insurance threshold increase will benefit the richest 5% of families twice as much as the poorest half of households. At the same time, does the Chancellor not accept that his decision to raise taxes on working people while shielding those with incomes from other sources such as a large portfolio of properties is only going to increase income inequality further?