Policing Minister Brandon Lewis told parliament that hate crime levels had fallen
Mr Lewis also condemned an "absolutely disgraceful" 36 per cent rise in incidents of anti-Semitism, as he urged the Labour Party to "look carefully" at a new report from the Community Security Trust (CST).
There was a spike in hate crimes after last year's Brexit vote, with 41 per cent more incidents recorded in July 2016 than the previous year.
Speaking at Women and Equalities questions, Mr Lewis said any form of hate crime must not be tolerated, adding: "We have been working with the police, EU embassies and community groups to monitor the situation, provide reassurance and to encourage reporting of racist incidents.
It is important that we stamp out all forms of hate crime
Brandon Lewis MP
"Recorded hate crime has now fallen to pre-referendum levels.
"Police force areas continue to monitor racist incidents on an ongoing basis, to ensure any increases are addressed at the earliest opportunity."
A CST report published on Thursday said the charity had recorded 1,309 incidents of anti-Jewish hate last year, compared with 960 in 2015.
But the Minister spoke about a worrying rise in anti-semitic hate crime
It said anti-Semitic incidents in the Labour Party were among the factors behind the record number of recorded incidents.
"The Labour Party, as well, should look carefully at the CST report this morning, that clearly indicates a 36 per cent rise in totally unacceptable anti-Semitic recording of crime related directly to the problems in the Labour Party," said Mr Lewis.
"It is important, as I've outlined, that we stamp out all forms of hate crime.
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Labour Leader Jeremy Corbyn takes part in a community meeting at the Guru Har Rai Gurdwara Sahib temple
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Britain's opposition Labour Party leader Jeremy Corbyn speaks at an anti-racism rally in London
Mr Lewis drew a direct link between the rise and problems within the Labour party
"That's why that hate crime action plan was put in place in July of last year by the Home Secretary. But also I think we all need to look at ourselves.
"It's very clear, when you look at that CST report, we should be pleased about people having the confidence to come forward and report crime.
"We've seen an increase in recording and that's good, but the fact that hate crime of any description, particularly a 36 per cent rise like that, is absolutely disgraceful and I hope that members across the House will be doing all they can to stamp that out."