Finance Bill

Part of the debate – in the House of Commons at 6:40 pm on 6th July 2010.

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Photo of John Redwood John Redwood Conservative, Wokingham 6:40 pm, 6th July 2010

Those are Labour's figures for the public sector. I have just told the House that I am talking about total investment across the economy. Overall, the right hon. Gentleman will find in the Red Book that it is anticipated that the rises in investment elsewhere will more than offset Labour's cuts in the capital programme, which we have decided to live with. I should also tell him that he is quoting the net line when he should be quoting the gross line. In other words, he is knocking off the depreciation, whereas we are interested in the total spend-the gross line, which is much higher than the figures that he has inadvertently, I think, given the House in error.

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