Listening to the Chancellor's speech, no one can doubt now that the Prime Minister's claim to have abolished boom and bust was one of the greatest deceits ever told to the British people. The Chancellor has just announced the largest amount of borrowing ever undertaken by a British Government in...

Listening to the Chancellor's speech, no one can doubt now that the Prime Minister's claim to have abolished boom and bust was one of the greatest deceits ever told to the British people. The Chancellor has just announced the largest amount of borrowing ever undertaken by a British Government in...

If we see a stronger—[Interruption.] If we see a stronger economy and increased tax revenues, we will review whether we need to take these tax raising measures, but I believe that it is right that, as we all benefit fairly from the exceptional measures we take today, we should all...

If we see a stronger—[Interruption.] If we see a stronger economy and increased tax revenues, we will review whether we need to take these tax raising measures, but I believe that it is right that, as we all benefit fairly from the exceptional measures we take today, we should all...

If we see a stronger—[Interruption.]

If we see a stronger—[Interruption.]

The hon. Member for Blyth Valley (Mr. Campbell) is very excited because he has his U-turn on the vehicle excise duty increase, for which he has been campaigning for so long. Unfortunately, it is coming down the track. Instead of boasting about his bank rescue abroad, the Chancellor could have...

The hon. Member for Blyth Valley (Mr. Campbell) is very excited because he has his U-turn on the vehicle excise duty increase, for which he has been campaigning for so long. Unfortunately, it is coming down the track. Instead of boasting about his bank rescue abroad, the Chancellor could have...

This means that the projection for the underlying budget deficit, excluding investment, will be 2.8 per cent. of GDP this year and 4.4 per cent. next year. But consistent with my commitment to sustainability and as a result of my announcements today, the underlying budget deficit, excluding investment, then improves,...

This means that the projection for the underlying budget deficit, excluding investment, will be 2.8 per cent. of GDP this year and 4.4 per cent. next year. But consistent with my commitment to sustainability and as a result of my announcements today, the underlying budget deficit, excluding investment, then improves,...

The Crown dependencies, such as the Isle of Man and the Channel Islands attract banking customers with lower taxes—without contributing to the UK Exchequer. But at times of stress, depositors need to know who will compensate them. The British taxpayer cannot be expected to be the guarantor of last resort,...

The Crown dependencies, such as the Isle of Man and the Channel Islands attract banking customers with lower taxes—without contributing to the UK Exchequer. But at times of stress, depositors need to know who will compensate them. The British taxpayer cannot be expected to be the guarantor of last resort,...

My pre-Budget statement today is made against a background of economic uncertainty not seen for generations. These are extraordinary, challenging times for the global economy, and they are having an impact on businesses and families right across the world. In these exceptional economic circumstances, I want to take fair and...

My pre-Budget statement today is made against a background of economic uncertainty not seen for generations. These are extraordinary, challenging times for the global economy, and they are having an impact on businesses and families right across the world. In these exceptional economic circumstances, I want to take fair and...

Although there is much to be welcomed in my right hon. Friend's statement, his announcement on empty property rates will not save a number of the companies in my constituency—and, I am sure, elsewhere—that are destined to be put out of business by that tax. Pallion Engineering, for example, is...

Although there is much to be welcomed in my right hon. Friend's statement, his announcement on empty property rates will not save a number of the companies in my constituency—and, I am sure, elsewhere—that are destined to be put out of business by that tax. Pallion Engineering, for example, is...

One problem that we face is that we undoubtedly have the world's largest financial centre and, because of that, we are more directly affected in relation to revenues than would otherwise be the case. If the hon. Gentleman cares to look at all the IMF assessments, particularly the assessments that...

One problem that we face is that we undoubtedly have the world's largest financial centre and, because of that, we are more directly affected in relation to revenues than would otherwise be the case. If the hon. Gentleman cares to look at all the IMF assessments, particularly the assessments that...

Will the Chancellor tell us what specific steps he intends to take to address the extortionate interest rate premiums that banks are placing on small businesses? Will he consider imposing penalties on banking institutions that are deemed to be working against the consumer and small businesses?

Will the Chancellor tell us what specific steps he intends to take to address the extortionate interest rate premiums that banks are placing on small businesses? Will he consider imposing penalties on banking institutions that are deemed to be working against the consumer and small businesses?

I did look at whether the relief should be concentrated on regeneration areas, but the problem was that a lot of people or businesses who have empty properties in areas that are not in regeneration areas would be perfectly entitled to say, ““What about me?”” I introduced a measure that...

I did look at whether the relief should be concentrated on regeneration areas, but the problem was that a lot of people or businesses who have empty properties in areas that are not in regeneration areas would be perfectly entitled to say, ““What about me?”” I introduced a measure that...

I most warmly welcome the statement. I particularly welcome the new tax on salaries of over £150,000. I think that my constituents will see the tax as a just tax, and therefore it will be a popular tax. Will the Chancellor reassure the House that that tax will be collected...

I most warmly welcome the statement. I particularly welcome the new tax on salaries of over £150,000. I think that my constituents will see the tax as a just tax, and therefore it will be a popular tax. Will the Chancellor reassure the House that that tax will be collected...

As I have said on a number of occasions, it is important that banks behave reasonably towards their customers. Part of the reason why we are setting up more intensive scrutiny of the banks is to ensure that if we see patterns emerging and if we believe that banks are...

As I have said on a number of occasions, it is important that banks behave reasonably towards their customers. Part of the reason why we are setting up more intensive scrutiny of the banks is to ensure that if we see patterns emerging and if we believe that banks are...

Does the Chancellor accept any responsibility whatsoever for the economic difficulties faced by people today?

Does the Chancellor accept any responsibility whatsoever for the economic difficulties faced by people today?

I agree with my hon. Friend: I believe that the tax system needs to be fair. Many people who earn quite substantial sums in this country have done pretty well over the past 10 years, and it is right that they should meet their fair share. Yes, of course, I...

I agree with my hon. Friend: I believe that the tax system needs to be fair. Many people who earn quite substantial sums in this country have done pretty well over the past 10 years, and it is right that they should meet their fair share. Yes, of course, I...

The Conservative party, alone in the world, is trying to make out that, somehow, nowhere else in the world is affected by any of the problems of the past 12 months, but I have made it clear on many occasions that, over the past 10 years, we have built up...

The Conservative party, alone in the world, is trying to make out that, somehow, nowhere else in the world is affected by any of the problems of the past 12 months, but I have made it clear on many occasions that, over the past 10 years, we have built up...

My right hon. Friend has announced a further £5 billion-worth of efficiency savings within the public sector. What calculation has been made of the job cuts that will result?

My right hon. Friend has announced a further £5 billion-worth of efficiency savings within the public sector. What calculation has been made of the job cuts that will result?

May I congratulate my right hon. Friend on his decision to pump extra money into the economy? May I also congratulate him on targeting that money on the worst off families and individuals? Putting money in their pockets and handbags is fairer than anything anyone else has suggested, and they...

May I congratulate my right hon. Friend on his decision to pump extra money into the economy? May I also congratulate him on targeting that money on the worst off families and individuals? Putting money in their pockets and handbags is fairer than anything anyone else has suggested, and they...

Of course, interest rates are now substantially lower than they were in the past. The result is that the cost of the debt that we have is less than it would otherwise have been.

Of course, interest rates are now substantially lower than they were in the past. The result is that the cost of the debt that we have is less than it would otherwise have been.

Will the Chancellor confirm that we will now be paying more in debt interest on all his borrowing than on the entire education budget? What kind of achievement is that?

Will the Chancellor confirm that we will now be paying more in debt interest on all his borrowing than on the entire education budget? What kind of achievement is that?