Question:
To ask the Chancellor of the Exchequer, what steps she is taking to (a) reduce income inequality and (b) improve social mobility for people from lower-income backgrounds. (43527)
Tabled on: 02 April 2025
Answer:
James Murray:
Distributional analysis shows that the expected impacts of government decisions from Autumn Budget 2024 onwards are progressive and benefit households in the lowest income deciles the most, on average, as a percentage of income in 2028-29.
The Government is committed to making sure the wealthiest in our society pay their fair share of tax. That is why the Chancellor announced a series of reforms at Autumn Budget 2024 to help fix the public finances in as fair a way as possible. The increases in tax are concentrated on the highest income households. Overall, on average, all but the richest 10% of households will benefit from policy decisions in 2028-29.
The answer was submitted on 10 Apr 2025 at 15:19.
