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Amendment of the Law

Part of Budget Resolutions and Economic Situation – in the House of Commons at 5:43 pm on 21st March 2000.

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Photo of Dr Alan Williams Dr Alan Williams Labour, Carmarthen East and Dinefwr 5:43 pm, 21st March 2000

Does the right hon. Gentleman remember the last year of the Conservative Government? How large was the public sector borrowing requirement? It was some £28 billion, or about 3.5 per cent. of GDP. If the Conservatives had been returned and if they had had a policy to balance the books at any stage, that 35.3 per cent. tax burden would have implied an increase of 3.5 per cent.