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Mortgage Interest Payments

Part of Orders of the Day — Finance Bill – in the House of Commons at 9:15 pm on 15th July 1997.

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Photo of Jim Murphy Jim Murphy Labour, East Renfrewshire 9:15 pm, 15th July 1997

I thank the hon. Gentleman for that interjection. The Labour party takes a balanced approach to those issues. We are talking about a 5 per cent. reduction, whereas the previous Government brought about a 10 per cent. reduction. We are moving away from boom and bust towards long-term economics. I believe that the hon. Gentleman will be one of the next speakers in the debate and I look forward to hearing what he would have done in terms of MIRAS and all the other policies in the Finance Bill, were the Conservatives in government.

The hon. Member for Daventry (Mr. Boswell) said earlier that the Labour party was involved in an enormous "material breach of trust". I do not know why he asserted that—nothing could be further from the truth.