Skip to content
Sunday 26 July 2026London --:--Frankfurt --:--Zurich --:--
NewslettersSearchEN · DE
City PM

European business, markets and politics

FTSE 100
10,736.23
+0.91%
DAX
25,099.00
+1.36%
CAC 40
8,372.28
+0.88%
STOXX 50
6,280.94
+1.14%
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
More
GermanyFranceBankingAIEnergyFintechPropertyCapital Markets
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Economy
  • Technology
  • Politics
  • Opinion
  • DE
Wednesday 31 January 2024 5:31 pm

PMQs sketch: A taxing affair

By: Jessica Frank-Keyes

Political Reporter

Add as a preferred source on Google
Britain's Prime Minister Rishi Sunak leaves from 10 Downing Street in central London on January 31, 2024 to take part in the weekly session of Prime Minister's Questions (PMQs) in the House of Commons. (Photo by JUSTIN TALLIS / AFP) (Photo by JUSTIN TALLIS/AFP via Getty Images)

Labour’s Big Business Week got off to a not-inauspicious start as Sir Keir Starmer gained the endorsement of Iceland chairman – and former wannabe Tory MP – Richard Walker.

But if he hoped that a C-suite level convert was enough to set Sunak’s tetch-o-meter rising, he was sorely mistaken.

Exuding the air of someone who’d nibbled a few extra nuts during Monday’s fast, the PM and his opponent needled each other with accusations of question dodging on everything from mortgages, taxes and Labour’s evergreen £28bn pledge. 

And Sunak had plenty of ammunition to hurl back, thanks in part to shadow City minister Tulip Siddiq’s choice of tortured metaphor on LBC this morning and Rachel Reeves’s decision to stand squarely behind bankers’ bonuses – reportedly a surprise to both Sunak and the shadow cabinet – amid the one-time alleged plagiarist’s apparent confusion over tax cuts.

“She obviously can’t decide which Wikipedia page to copy this week,” he crowed. 

Despite mentioning supermarket worker Phil, who Starmer earnestly maintained is “worried about his mortgage” a total of 15 times, the Labour leader failed to generate the frosty atmosphere he was so blatantly aiming for.

It’s not clear that the Corbyn-esque tactic of laying the average voter’s plight on the Commons table across from the PM, like a cat dragging in bundle of feathers, did the trick – at least not judging by guffaws of Tory laughter. 

What was clear was the greatest hits parade of attack lines. Sunak hit the Labour leader with the £28bn question four times, reheated the Wikipedia comment, and reminded us all we’d be heading straight back to square one with Keir Starmer thrice. 

For his part, Starmer’s offering was a robust series of mortgages, tax, then mortgages, Phil’s mortgage, council tax, before finally he got bored of the merry go round and demanded an election. 

It was almost a relief to return to the usual suspects, as MPs jeered at Ed Davey’s return to the House in the wake of the Post Office Horizon scandal. Meanwhile, ‘freethinker’ Andrew Bridgen opted to compare the dodgy software to the Covid-19 vaccines, giving the PM a rare opportunity to be “unequivocal from this despatch box”.

“Covid vaccines are safe,” he insisted, while declining to state the same for his own electoral prospects. 

Read more

Top Tory slams ‘ivory tower’ financial regulators as takeover bids blight London Stock Exchange

Shadow business secretary Andrew Griffith has said he would make it easier for small businesses to open bank accounts. (Photo by Dan Kitwood/Getty Images)

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News

Categories

  • Politics

Trending Articles

  • BT braces for loss of 800,000 customers as it banks on fibre to keep turnaround ‘on track’

  • Wise denied US banking licence in blow to expansion plans

  • Regulator flags BDO’s ‘unacceptable’ audit issues for fifth year in a row 

  • Housebuilder hits a wall: How did Vistry become the UK’s most shorted stock?

  • Greek wine perfectly suits summer. These 5 bottles are the best

More from City PM

  • Top Tory slams ‘ivory tower’ financial regulators as takeover bids blight London Stock Exchange

    Markets
    Shadow business secretary Andrew Griffith has said he would make it easier for small businesses to open bank accounts. (Photo by Dan Kitwood/Getty Images)
  • Here’s how to fix London listings

    Opinion
    AIM100 stock market data display showing risers and fallers, with financial charts and percentage changes.
  • Victory wasted: The cautionary tale of Keir Starmer

    Opinion
    Keir Starmer exiting a building, dressed in a suit, amid media attention, reflecting leadership and political significance
  • Vance says ‘broken’ Britain must rebuild economy, not just change PM

    Politics
    Andy Burnham returns to Parliament
  • Burnham scraps digital ID scheme

    Politics
    Andy Burnham speaking at a public event, emphasizing local governance and policy changes, wearing a suit and gesturing pas...
  • Burnham risks ‘breaking manifesto’ without business rates reform

    Retail
    Andy Burnham speaking at a public event, addressing the audience with a focused expression, highlighting his leadership role.
  • John Healey becomes Chancellor as Andy Burnham names top Cabinet appointments

    Politics
    Chancellor John Healey speaking at a professional event, likely a press conference or address.
  • Unfunded Digital ID will not free up new cash for Burnham’s cost of living plans

    Politics
    Burnham cityscape at sunset with historic buildings and bustling streets, highlighting the vibrant urban landscape
CityPM

Independent European business, markets and political news for decision-makers.

Morning Briefing

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Business

  • Markets
  • Banking
  • Technology
  • Energy
  • Property
  • Fintech

Editorial

  • Opinion
  • Editorial Policy
  • Corrections
  • Contact

Company

  • About City PM
  • Privacy Policy
  • Terms of Use
  • Cookie Policy
© 2026 City PM Ltd · Published by CityPM Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
Privacy · Terms · Cookies · Facebook