Malthouse criticises tax rises in Autumn Statement

Speaking in today’s debate on the Autumn Statement, Conservative MP Kit Malthouse criticised elements of the fiscal package.

Mr Malthouse served as education secretary under Liz Truss.

He said: “One of the most dismaying choices… in the budget has been the increase in capital taxes that is proposed, not least because that is changing the risk reward ratio, [which means it] is less likely that people are going to go out there and start a business”.

He also praised his own foresight on inflation: “I told you so! For those of us who have been tracking the path of the UK money supply over the last ten years, the underlying inflation which had been baked into our system, which emerged or has emerged over the last 12 months, did not, I’m afraid, come as any great surprise”.