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Proceeding contribution from Lord Redwood (Conservative) in the House of Commons on Monday, 23 April 2007. It occurred during Debate on bill on Finance Bill.

Finance Bill

It is quite possible that house prices will be higher in 2010 than they are today, but I would not call the present economic conditions a boom. That illustrates the fantasy world in which some Labour Members live. They really must accept that an inflation rate of 4.8 per cent. is a disgrace. It is far higher than that of all our leading competitor nations. We must compare ourselves with the world as it is, not with the world as it was 15 years ago when everyone was performing rather less well than they are today. That inflation rate is too high. Our interest rates have been consistently higher than those of Japan, the United States of America and euroland throughout this Chancellor’s watch, and they are still at the high end worldwide. When companies think about where to borrow, Britain is not the best place to go, by quite a long way.

Secondary information

Type
Proceeding contribution
Reference
459 c732 
Session
2006-07
Chamber / Committee
House of Commons chamber
Subjects
Crime Agriculture Aviation Business Corporation tax Climate change Buildings Bureaucracy Capital allowances Fraud Housing Education Environment Investment Income tax Energy Electricity generation Economic situation Floods Inflation Pensions Olympic Games Passengers Petrol Partnerships Pension funds Small businesses Regional planning and development Tax allowances Tax avoidance Taxation Research Tax rates and bands Rural areas Off-payroll working
Legislation
Finance Bill 2006-07
Link
View this Proceeding contribution on www.publications.parliament.uk