Economic Growth

Treasury written question – answered on 30th March 2006.

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Photo of Peter Bone Peter Bone Conservative, Wellingborough

To ask the Chancellor of the Exchequer what assessment he has made of the effect of tax levels on economic growth.

Photo of John Healey John Healey The Financial Secretary to the Treasury

The Government's macro-economic framework has consistently delivered stability with strong growth and low inflation, thus establishing a track record that has been internationally acknowledged. GDP has now grown for 54 consecutive quarters and inflation remains at historically low rates. The Government's approach to taxation balances the need to finance better quality public services, deliver fairness and promote sustainable development while ensuring that the UK benefits from the advantages of being a lightly taxed economy.

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