FINANCE BILL DAMAGES UK SAYS LUFF
News Story

FINANCE BILL DAMAGES UK SAYS LUFF

The Government’s recent Budget was “nakedly and lamentably political", and characterised by the “four D’s – distraction, deceit, delay and deficit”. That’s the view of Peter Luff MP, Chairman of the Business and Enterprise Committee and Member of Parliament for Mid Worcestershire.

Peter was speaking in the Commons yesterday (Wednesday) on the debate on the Finance Bill – the legislation drawn up to enact changes announced in the Budget. He told the Commons that the Budget had been deceitful using the 50p tax rise on high earners as a distraction - "naked red meat" to throw to Labour backbenchers. He said,

"A picture was painted in the Budget a couple of weeks ago of a Bill for the problems facing this country paid for largely by the rich. But of course it won't be, it'll be paid for by every man, woman and child in this country."

Peter also highlighted the fact that difficult choices were being delayed until 2011, after the next general election, and the deficit was "unaddressed and out of control"

He told MPs,

"I know that this outcome would put Britain only in the middle of the advanced economies in terms of the percentage debt of GDP. But the tragedy has been that if we hadn't had the spending splurge of the last six, seven, eight years, we could have been in a so much stronger position than that - so much stronger.

"If we had indeed fixed the roof when the sun was shining, we could now be in a uniquely strong position to take the world by storm."

He said the Prime Minister had believed his own "propaganda" when he was Chancellor. Peter also warned the Government it must be prepared for a changing global economy.

"The world is changing out there," he said. "We cannot arbitrarily increase taxes on entrepreneurs and wealth creators and expect it to be a cost-free option. It will cost us in the battle to maintain our global position. And I fear that that is not properly understood."


Back to News