Parliamentary Search

Proceeding contribution from Brooks Newmark (Conservative) in the House of Commons on Wednesday, 6 May 2009. It occurred during Debate on bill on Finance Bill.

Finance Bill

Does the hon. Gentleman share my concern, which I raised with my hon. Friend the Member for Runnymede and Weybridge (Mr. Hammond), that the Government, as the hon. Gentleman correctly said, have come up with some fantastical growth projections, saying that growth will be negative only this year—at, say, 3.5 per cent.—up 1.25 per cent. next year and perhaps 3.5 per cent. the next year? If the growth is not that great, a sensitivity analysis would show that tax revenues will drop. If tax revenues drop because the Government do not achieve their growth forecasts, they will have an even bigger black hole to deal with.

Secondary information

Type
Proceeding contribution
Reference
492 c231 
Session
2008-09
Chamber / Committee
House of Commons chamber
Subjects
Children Alcoholic drinks Business Corporation tax Credit Bingo Borrowing Finance Income tax Excise duties Fuels Gaming Government assistance Economic growth Forecasts Personal savings Poverty Pensions Public expenditure Scotland Tax allowances Tax avoidance Taxation VAT Trusts Tax rates and bands Tax evasion North Sea oil Trade competitiveness Marginal tax rates
Legislation
Finance Bill 2008-09
Link
View this Proceeding contribution on www.publications.parliament.uk