National Insurance: Partnerships
Debate between Lord Garnier and Lord Livermore(2 weeks ago)
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Lord Livermore (Lab)
If the noble Lord wants to talk about the amount of money that is left, I am very happy to point him to the £22 billion black hole in the public finances that we inherited and that his Government sought to hide from the Office for Budget Responsibility. The same OBR has certified that the non-dom reforms the Government have implemented will raise £33.8 billion in total revenue over the five-year forecast period. This figure accounts for some non-doms who are ineligible for the new regime, choosing to leave the UK in response to these reforms. The Government will continue to work with stakeholders to ensure that the new regime is internationally competitive and focus on attracting the best talent and investment into the UK.
Lord Garnier (Con)
My Lords, in his earlier answer, the Minister said that much of the speculation was irresponsible, which suggests that some of it was not. Could he please list it?
Lord Livermore (Lab)
No. As I think I have made clear, I am not going to comment on individual tax measures.
Government Performance against Fiscal Rules
Debate between Lord Garnier and Lord Livermore(4 months, 2 weeks ago)
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Lord Livermore (Lab)
My Lords, I will tell the noble Lord what matters in terms of controlling the public finances: economic growth, which his Government singularly failed on. Whether it was the Liz Truss mini-Budget, the Brexit deal that he supported and championed, or austerity at exactly the wrong moment for the economy, the previous Government’s record on economic growth was woeful.
Lord Garnier (Con)
My Lords, I think the public are getting a bit bored of the mantra of blaming the previous Government—that is a long time ago now.
Lord Garnier (Con)
What are the current Government going to do about the current problem?
Lord Livermore (Lab)
I do not think the public are getting bored of it. The noble and learned Lord may be getting bored of it, perhaps because he is slightly sensitive about it. If he thinks that 14 years of crashing the economy can be undone in one year, he is living in cloud-cuckoo-land. This Government will stick to their policies and grow the economy.