New Wealth Taxes — [Sir Edward Leigh in the Chair]

Part of the debate – in Westminster Hall at 3:59 pm on 14 June 2022.

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Photo of Lucy Frazer Lucy Frazer The Financial Secretary to the Treasury 3:59, 14 June 2022

My hon. Friend the Member for Christchurch was right to identify that that option is available, if people choose to take it. The Government have set out our tax regime, and that option is available to those who wish to pay more tax.

I was touching on the cost of living, which is important. As many Members have said, this is not just about statistics; it is about people. To give an example, a single mother with two children who works full time on the national living wage will receive £2,500 a year in additional support because of the measures we have taken. On the subject of statistics, the right hon. Member for Hayes and Harlington did mention some, but our latest statistics show that in 2020-21 1.2 million fewer people were in absolute poverty than 10 years earlier, in 2009-10.