A fuming Mr Bacon asked Tory MP Paul Scully if it was “absurd” that the Government was cutting the top rate of tax when there wasn’t “enough food at foodbanks”. The former Big Breakfast presenter added that it was “wild” that the Government had lifted the cap on bankers bonuses when people “could barely” afford shoes for their children.
He said: “Isn’t it also in a way Paul slightly absurd that in the middle of a cost of living crisis.
“That we’ve known is coming and people can barely afford to buy shoes for their kids and there’s not enough food at foodbanks.
“It sounds absurd to say this out loud but last Friday you reduced the top rate of income tax for rich people and you took away the cap of bankers bonuses which the bankers weren’t even asking for.
“Doesn’t it just seem wild.”
Mr Scully hit back with the Minister for Local Government, Faith and Communities arguing it was an issue around optics.
He said: “In terms of optics there’s always going to be that accusation.”
Mr Bacon blasted back arguing that the Government should be more concerned with the impact of its policies than how they might look.
He said: ” What about optics, how about just doing it.”
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“It just does not compete when you look at the US I think it’s 37 percent.
“You look at Italy, look at Norway as a lower top tax rate.
“But that’s about growth.”
In response Mr Bacon quoted the International Monetary Fund who argued that the mini budget from Chancellor Kwasi Kwarteng would increase inequality.
He said: “The IMF said that this mini budget is going to increase inequality and one of the reasons is the reduction in the top rate of tax.”
Mr Scully hit back by insisting that the cut in the top rate of tax was necessary in order to stimulate growth.
He said: “But that’s about growth Richard, that’s about growth.”