Ways and Means

– in the House of Commons on .

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  • Budget Statement (2 speeches)

    Before I call the Chancellor of the Exchequer, it may be for the convenience of hon. Members if I remind them that at the end of the Chancellor's speech, as in past years, copies of the Budget...

  • The Economic Background

    I start with the economic background. Nineteen eighty-six was dominated by the sudden collapse of the oil price. Our own economy was affected not only directly, as a major oil producer and...

  • Monetary Policy

    For their part, the Government will keep in place a sound and prudent financial framework. That means, as it has done since 1980, the medium-term financial strategy. The central objective of the...

  • Public Sector Borrowing

    I mentioned a moment ago the need to keep public sector borrowing low. The final outturn for the public sector borrowing requirement last year, 1985–86, was just under £6 billion,...

  • Exchange Control

    Before I turn to my proposals for changes in taxation, I have one other change of a specific nature to announce. In 1979, a few months after the present Government had first taken office, my...

  • Business and Enterprise (3 speeches)

    I now turn to taxation. First, taxes on business. The fundamental reform of the corporation tax system which I introduced in 1984 came fully into effect last April. The new system has...

  • Taxes on Saving (2 speeches)

    I turn now to the taxation of savings. A central theme and purpose of the Government's policies is the creation of a genuine popular capitalism. That means wider home ownership, wider share...

  • Taxes on Spending

    I now turn to the taxation of spending. I have already announced some important changes in value added tax to prevent avoidance and to help the small business man. I have no other proposals for...

  • Income Tax

    Finally, I turn to income tax. There is now a worldwide consensus on the economic desirability of tax reform and tax reduction, and in particular the reduction of income tax. This was...

  • Conclusion

    In this Budget I have reaffirmed the prudent policies which, despite a year-long coal strike followed by a collapse in the oil price, have given us the strongest economy we have known since the...

  • Provisional Collection of Taxes (1 speech)

    Motion made, and Question,That, pursuant to section 5 of the Provisional Collection of Taxes Act 1968, provisional statutory effect shall be given to the following motions: (a) Unleaded petrol...