Yesterday, the Commons started progress on the Finance Bill, the bill that puts last month’s budget into law. That budget has brought about the highest tax burden ever in our history,
What will the Government do with all the Tax that it is raising?
They will not pay down the national debt—it is going up. They will not employ more teachers; their numbers are falling. They will not employ more police officers either; their numbers are falling too.
Instead, they will turn hard-working taxpayers’ money into handouts: the money is for Benefits Street.
To-day the Chancellor has hailed the Bank of England’s decision to cut interest rates as a measure of her own successful stewardship. On the contrary, the Bank has made it abundantly clear that, despite inflation above target, it cut the interest rate because it is increasingly concerned about the risk “from weaker demand” due to rising unemployment and low growth: Not an auspicious background to begin the committee stage of the Finance Bill.
Sir Desmond Swayne TD
