Good Morning Britain’s Susanna Reid vigorously questioned Conservative MP Chloe Smith on the government’s mini budget last week.
Chancellor Kwasi Kwarteng's mini-budget was delivered in a statement to Parliament and included sweeping tax cuts as part of a package he said would shake up the UK's finances and boost economic growth.
His announcements included scrapping a cap on bankers' bonuses, reversing a rise in National Insurance and cutting stamp duty tax for some buyers.
The ITV presenter co-hosted the first programme of the week with Ed Balls and saw the work and pensions secretary appear on the programme.
During MP Chloe Smith’s appearance on Good Morning Britain, Susanna noted that the mini budget will be supporting millionaires “more than anyone”.
She said: “How should someone earning a million pounds get an extra £55,000 a year from next year? It just seems a little unusual to be rewarding people who already have a lot of money.”
Torsten Bell, the chief executive of the Resolution Foundation think tank, said those earning £1m annually will get a £55,000 tax cut next year.
However, the MP replied: “I would disagree that is the effect of the package more than any other. The effect I see more than any other is that so many households – millions of households across the country – will be able to get support.”
Susanna then cut in to say: “But you could have done that and kept the 45% top rate of top income tax. You could have helped the others. You’re giving millionaires a pay-rise.”
Smith then replied: “Susanna, to finish my point, what I also see in the package is the way that millions of people will be getting a reduction in their income tax because we’re doing multiple changes in income tax rates.”
Susanna again cut in to point out that the country’s millionaires will receive an “extra tax cut”, asking what the benefit is.
The MP replied by continuing her point undeterred, saying: “– and also the national insurance move and also the corporation tax move.
“Together those are what will put billions of pounds into the pockets of households and businesses. That will be what leads to growth.
“That fundamentally Susanna is the bottom line of this. It will lead to growth and greater opportunities for everybody.”
The Institute of Fiscal Studies has said the richest 10% of households would gain the most from Mr Kwarteng's measures.
