Amendment of the Law

Part of the debate – in the House of Commons at 12:00 am on 3rd May 1966.

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Photo of Captain Walter Elliot Captain Walter Elliot , Carshalton 12:00 am, 3rd May 1966

I agree entirely with my hon. Friend. There are many aspects of the service tax which, no doubt, in the course of this debate will be gone into thoroughly, but I am grateful to my hon. Friend for raising that point.

I believe that this Budget will fail for three reasons, apart from the general reason that it does not go far enough. It will fail, first, because those really responsible for the pressure of demand will escape. I believe that demand will continue to rise. Secondly, the Budget fails because of the complete lack of incentive for greater efforts or for the taking of greater risks. Thirdly, it fails because it continues to weaken our long-term position.

I spoke recently in the debate on the Queen's Speech and I said that the Government would have the right to call upon the support of the Opposition if they acted courageously on economic policy. I meant that sincerely. I believe that many of my hon. Friends on this side feel that way also. I said that I awaited the Budget with acute interest. I would have supported the Government had they taken the measures which, I think, are necessary to get our economy straight, to pay back our debts and to pay our way. I do not believe that this Budget is an answer to our problems. It is a continuation of the Socialist Rake's Progress, it is the road to disaster, and it will not be long before this is brought home to the country.