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Proceeding contribution from Jacob Rees-Mogg (Conservative) 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

Very simply, because £150 billion extra has not got to be borrowed. Forecasts of what may happen are fundamentally unreliable. In a large economy, no efforts to forecast a small percentage of growth that there may or may not be have been successful. In the history of economic forecasts both in this country and across the world, there is one thing of which we can always be certain: that they are wrong and that the outcome will be different. This extra £150 billion that is proposed is based on a theoretical level of growth that was never going to be achieved, and that was never able to be achieved.

Secondary information

Type
Proceeding contribution
Reference
543 c118 
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