Steve McCabe MP Questions Treasury Ministers on tax rises outweighing tax cuts

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During Treasury Questions on 21 July 2015 Steve McCabe MP asked the Financial Secretary to the Treasury, David Gauke MP whether he accepted that over the course of Parliament, tax rises will be twice as big as any tax cuts.

Steve pointed out to Treasury Ministers that Ernst and Young have estimated that the rise in household taxes is reducing disposable income, outweighing any tax cuts that the Chancellor mentioned in his Summer Budget. Steve also pointed out that with £47.2 billion of tax rises, including insurance premium tax and vehicle excise duty, tax rises are likely to be twice as big as any tax cuts.

For the full Hansard source of Steve’s questions please click here.

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