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Finance Bill

I have personally never been in charge of the Treasury, but I was for a time the leader of Wandsworth council, which was in a sense a little, local Government. When faced with a similar situation in about 1981, when there was a financial and economic crisis, our council found that resources coming in from the Government were going down and it saw affordability issues in respect of local taxation from households and businesses. In those days, of course, we had business rates that were a great burden on entrepreneurs. What happened then was that we as a council reduced our expenditure by some 20 per cent. in one year. Last night, as it so happens, I attended a reception at Wandsworth council to celebrate its 31st year under Conservative control, and it still has the lowest council tax in the country. I am delighted to see in his place on the Front Bench my hon. Friend the Member for Hammersmith and Fulham (Mr. Hands), because Hammersmith and Fulham council is fast catching up with Wandsworth on that sort—