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Budget Resolutions and Economic Situation

I thank the hon. Gentleman for those comments. It might seem churlish if I were now to say some of the things that I might have wanted to say about his speech. Let me simply say a few more words. He suggested that the Chancellor did not say anything about taxes, but perhaps he missed the section of the Chancellor's speech in which he talked about the 1p increase in national insurance contributions, the 50p rate and the tax relief on pensions. The hon. Gentleman ought to welcome the fact that the Chancellor said we are not raising taxes out of "dogma or ideology". I very much welcome that, and I hope we will be in a position to reduce top tax rates in future, because I believe that they can, if they are too high, be a disincentive to entrepreneurship and innovation. I also want to correct the hon. Gentleman's accusation regarding the Chancellor using net figures and gross figures in relation to bank lending. The Chancellor said that there was £38 billion of lending to small and medium-sized enterprises in the past year. The actual figure for total gross lending last year was £79 billion, and the target that was agreed with Lloyds and RBS is £94 billion for this year. That is a real increase. This is an important Budget. I am proud that there is a strong growth element to it, and I thank the hon. Gentleman and other hon. Members for their personal thanks to me. Ordered, That the debate be now adjourned.— (Lyn Brown.) Debate to be resumed on Monday next.