Rushanara Ali MP spoke out in Parliament on the Government’s decision to cut the top rate of tax for millionaires.
Speaking in a debate about fairness in the tax system, Rushanara argued that the Government was wrong to award a tax break to millionaires at a time when local residents of Bethnal Green and Bow were facing a cost of living crisis. She said:
“It is simply not acceptable and not fair that millions of people are paying more in tax – whilst millionaires pay less. We have seen people dependent on food banks in a way they’ve never been, rising homelessness, and rising poverty – and child poverty in particular. This is not only in my constituency, but across the country. Yet the Government still focuses on rewarding the Top 1% of earners while everyone else suffers.”
The debate focused on the Government’s decision last year to award an average tax cut of around £3 billion tax cut to millionaires. Rushanara went on to cite recent figures recently released which show that the average family supporting children – with one person in work – would be £3,720 a year worse off by 2015.
Speaking after the debate, Rushanara argued that it was only the Labour Party who could be trusted to give support to lower and middle incomes:
“People are asking for a fair chance, and they want the Government to be fair in its taxation system. Labour’s vision is to work towards cutting taxes for the 24 million people on middle and lower incomes – through introducing a 10p starting rate of tax. That is not only the way to a fair system of taxation, but the only way to nurture sustainable growth for all.”