Harriett Baldwin
Main Page: Harriett Baldwin (Conservative - West Worcestershire)Department Debates - View all Harriett Baldwin's debates with the HM Treasury
(14 years ago)
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Danny Alexander
The hon. Gentleman will have to wait until the statement on 20 October to hear the details of our spending decisions, but as I have made clear in answer to earlier questions, of course we consider it important to understand and manage the regional impact of spending cuts. We have established a regional growth fund, the details of which will be in the spending review statement, which will enable areas such as his to win support for projects that help economic growth in difficult times.
Harriett Baldwin (West Worcestershire) (Con)
17. What assessment he has made of the effect on GDP of proposals to increase the level of economic growth in the June 2010 Budget.
The Economic Secretary to the Treasury (Justine Greening)
As we discussed earlier, the emergency Budget supported businesses in a variety of ways. We know that we have to rebalance our economy by getting an unwieldy public sector back into a sustainable, private sector-led economy that generates the tax revenues needed to fund our public services sustainably. We will never go back to the profligacy of the Labour party.
Harriett Baldwin
Businesses in West Worcestershire welcome the cuts in corporation tax that were announced in the June 2010 Budget. Does the Minister agree that the most basic economics primer would say that, if they are possible, lower tax rates for business can lead to higher tax revenues from business?
Justine Greening
My hon. Friend is right, and I know that she had wide experience in business before entering the House. Opposition Front Benchers really ought to listen to the CBI, the Institute of Directors, the Federation of Small Businesses, the British Chambers of Commerce and a range of other representatives from across industry who welcome the measures that the Government have brought forward to support business. As long as the Opposition put their head in the sand they will remain what they are right now, which is incredible.