Clause 6
Finance Bill
4:45 pm
Mark Field (Cities of London and Westminster, Conservative)
In view of the Budget’s optimistic projections for growth in the next few years, on what basis did the Treasury feel it necessary to change its proposal for a 45p tax rate? After all, if Government figures are to be believed, we shall have growth racing away at 3.5 per cent. within the next year or so. On the basis of that figure very little obvious change has been made in relation to public expenditure, so why the radical change on taxation?