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Proceeding contribution from Rachel Reeves (Labour) in the House of Commons on Monday, 16 April 2012. It occurred during Debate on bill on Finance (No. 4) Bill.

Finance (No. 4) Bill

The point I am making is that the consumption growth forecast for this Parliament is being funded by increased indebtedness. A VAT reduction would boost the spending power of households without their having to take on extra debt. With incomes stagnating and, in many cases, falling, many families are resorting to taking on more debt because they cannot afford to make ends meet—that is the point I am making. That is why a reduction in VAT would help put money into the pockets of ordinary families, who are struggling so much with rising gas, electricity, train, bus and petrol prices.

Secondary information

Type
Proceeding contribution
Reference
543 c41 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
Child benefit Alcoholic drinks Charities Business Corporation tax Banks Caravans Air passenger duty Housing Donors Income tax Excise duties Fuels Fiscal policy Economic situation Foreign companies Pension credit Personal income Pensioners Low incomes Pensions Prices Welfare tax credits Small businesses Tax allowances Tax avoidance Taxation VAT Stamp duties Tax rates and bands Stamp duty land tax Age allowances
Legislation
Finance Bill 2010-12 to 2012-13
Link
View this Proceeding contribution on www.publications.parliament.uk