Central Devon MP Mel Stride, who chairs the influential House of Commons Treasury Select Committee, has pressed the Chancellor of the Exchequer Rishi Sunak to reduce the tax burden on businesses and families once global inflationary pressures stabilise.
Speaking in the House of Commons, Mr Stride urged the Chancellor to make “serious tax cuts” to boost economic growth and job creation. The Chancellor responded by pointing to tax cuts the government has already made to help with the cost of living, but agreed that further tax cuts would be needed to support businesses and encouraging innovation and to help with family finances.
Speaking after the session in the House of Commons, Mr Stride said:
“The Chancellor rightly invested heavily in support measures for businesses, employees and the self-employed during the worst of the pandemic – measures which helped businesses stay afloat and stave off mass unemployment. Then he has had to provide significant support to help families with the cost of living as the Russian invasion of Ukraine has driven up global energy, food and fuel prices. But once inflation subsides, we will need to reduce the tax burden on businesses and families here in Central Devon and across the country and clearly from his response the Chancellor recognises this.”
A video of Mr Stride’s exchange with the Chancellor can be watched above.
