Taxation

Part of Prayers – in the House of Commons at 12:03 pm on 8 June 1990.

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Photo of Mr Trevor Skeet Mr Trevor Skeet , Bedfordshire North 12:03, 8 June 1990

We have heard some interesting speeches, including a thoughtful one by the hon. Member for Middlesbrough (Mr. Bell). My hon. Friend the Member for Eastbourne (Mr. Gow) said that inflation was the killer and the primary tax. One point that distinguishes this country from others in western Europe is that mortgage interest in not included in the retail prices index in those countries. Inflation in the United Kingdom might be assumed to be 9·5 per cent. but it is really about 2 per cent. below that. That is a long call from the 26·9 per cent. to which my hon. Friend referred.