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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 hon. Gentleman said that investment is coming to Britain, but business investment fell by 2% last year, whereas a year ago the OBR predicted that it would grow by 8%. The reality is that the economic data show that investment is falling and the OBR says that nothing in the Budget will materially affect the economic forecast. The proof of the pudding is in the eating and the numbers show that things are moving in the wrong direction. I find it incredibly out of touch for Government Members to try to speak about the economy as if it is booming and creating jobs and as if businesses are investing when all the economic data show just the opposite. Jobs are being shed and investment is falling, rather than rising.

Secondary information

Type
Proceeding contribution
Reference
543 c42-3 
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