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Budget Resolutions and Economic Situation

I will not give way now. Underneath it all, no matter now compassionate their rhetoric, the Conservatives still have the desire to cut. We could do that too, of course, but it would be the wrong thing to do, and the Conservatives know it. We cannot face global competition with one hand tied behind our back. Instead, we will have spent some £5.4 billion a year on science by 2008. This year alone, we have invested more than £2.6 billion to renew UK university research infrastructure. This Budget adds to that by creating a single £1 billion a year health research fund. It also simplifies research funding arrangements and expands R and D support for medium-sized companies. Our drive is to improve the UK’s position as the best location for inward investment, and that means strengthening our reputation as one of the world’s finest locations for higher education. It also means promoting London as the world’s leading centre for financial and business services. This is a Budget for the future, and for a strong and strengthening economy. I commend it to the House. Question put and agreed to. Resolved,"(1) That it is expedient to amend the law with respect to the National Debt and the public revenue and to make further provision in connection with finance.""(2) This Resolution does not extend to the making of any amendment with respect to value added tax so as to provide—"