Part of Ways and Means – in the House of Commons at 3:34 pm on 17th March 1987.

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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 war.
After an autumn statement which substantially increased public spending in priority areas, I have once again cut the basic rate of income tax: a cut which the Labour party is pledged to reverse, if it is given the chance — which it will not be. And I have done this while sharply reducing public borrowing—a combination that has eluded successive Governments for decades.
This is a Budget built on success, and a Budget for success. I commend it to the House.