PARLIAMENTARY DEBATE
Tax Thresholds - 1 October 2019 (Commons/Commons Chamber)
Debate Detail
Janet Daby
Lewisham East
12:20:01
Jesse Norman
The Financial Secretary to the Treasury
That was a cruel blow for my right hon. Friend, Mr Speaker, if I may say so.
In answer to the hon. Lady’s question, the House will I am sure rejoice that between 2010 and 2019 the personal allowance has been increased by more than 90%, so that those on the lowest incomes do not pay any income tax, and since 2015-16 alone 1.74 million people have been taken out of income tax altogether. We will publish a full distributional analysis of the recent spending round alongside the next Budget, and it will also capture the effect of any budgetary announcements made at that time.
In answer to the hon. Lady’s question, the House will I am sure rejoice that between 2010 and 2019 the personal allowance has been increased by more than 90%, so that those on the lowest incomes do not pay any income tax, and since 2015-16 alone 1.74 million people have been taken out of income tax altogether. We will publish a full distributional analysis of the recent spending round alongside the next Budget, and it will also capture the effect of any budgetary announcements made at that time.
12:20:11
Janet Daby
Can the Minister explain how it is fair that a small handful at the very top have run into the distance, making up the top 10% of the population and owning 44% of the nation’s wealth?
Jesse Norman
The hon. Lady may not be aware that at the moment the top 1% of the country pay 29% of all tax. That is up from the 25% in 2010-11.
Contains Parliamentary information licensed under the Open Parliament Licence v3.0.