Wealth Tax 2023-11-14

2023-11-14

TAGS
Response quality

Questions & Answers

Q1 Partial Answer
Rachael Maskell Lab Co-op
York Central
Context
The MP questioned the fairness of the current tax system and highlighted the disparity in wealth accumulation between the richest families and the rest of the population.
But the burden of tax is increasingly falling on working people's incomes, while the richest 50 families have accumulated a combined wealth equivalent to half the UK's population. Research from the University of Greenwich shows that a wealth tax could generate £70 billion for public services. Will the Government establish a commission to investigate and introduce fairer taxation?
We have a progressive tax system in the UK where the top 5% of taxpayers are projected to pay nearly half of all income tax, while the top 1% will contribute as much as 28%, compared to figures from 2010 when Labour was in power.
Assessment & feedback
Did not address the request for a wealth tax investigation or commission establishment
Progressive Tax System
Response accuracy
Q2 Direct Answer
Rachael Maskell Lab Co-op
York Central
Context
The MP highlighted the disparity between VAT rates for electric car charging for those with driveways versus terraced houses, suggesting it is less wealthy individuals who suffer.
Those living in terraced homes face a 20% VAT rate to charge cars commercially while those with driveways pay only 5%. Given this tax anomaly affects less wealthy homeowners, will the Minister meet me and other members of the Conservative Environment Network to address this issue?
My right hon. Friend is a great champion on such issues and I would be delighted to meet her to further discuss how we might address this anomaly.
Assessment & feedback
Response accuracy
Q3 Partial Answer
Context
The MP noted the Government's efforts to raise personal allowances, benefiting low-income earners. He asked if similar focus will be given to reducing taxes for hard-working middle-income families.
While raising personal allowances benefits lower-income individuals, does the Treasury now plan to focus on reducing tax burdens for hard-working, middle-income families?
Since 2010, we have taken over 3 million of the lowest-paid people out of paying income tax altogether; however, I cannot comment further given it is close to a fiscal event.
Assessment & feedback
Did not address if the Treasury will consider measures for middle-income families specifically
Close To Fiscal Event
Response accuracy
Q4 Partial Answer
Gregory Campbell DUP
East Londonderry
Context
The MP welcomed the new minister and noted a humorous situation regarding tax proposals from both opposition backbenchers and government backbenchers.
I welcome my hon. Friend to his post. Is there humour in Opposition Back Benchers proposing taxes that Front Benchers reject, while Government Back Benchers want tax cuts but are rejected by their Front Bench?
We have heard such proposals before from Labour, which did not work in the '70s and will fail now. We are proud of our record on taking the lowest-paid out of income tax.
Assessment & feedback
Same Old Labour Tax Record
Response accuracy
Q5 Partial Answer
Richard Fuller Con
North Bedfordshire
Context
The MP welcomed the minister and urged him to abolish non-dom tax status to fund NHS improvements and free breakfast clubs for primary children.
I welcome the Minister to his place. Given the opportunity, will the Chancellor abolish non-dom tax status next week, using funds for NHS support and free breakfast clubs for primary-age children?
The hon. Gentleman is aware that abolishing non-dom tax would make the UK less attractive; non-doms paid £8.5 billion in income tax and invested over £7 billion in the UK last year.
Assessment & feedback
Less Attractive Investment
Response accuracy