Lord Brennan of Canton
Main Page: Lord Brennan of Canton (Labour - Life peer)Department Debates - View all Lord Brennan of Canton's debates with the HM Treasury
(9 years, 10 months ago)
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Andrea Leadsom
I completely agree with my hon. Friend. She is right that we want Britain to be the best place to start and grow a business. I am delighted for her that she has 9,600 new start-ups in her constituency, which she has fought for diligently throughout this Parliament, and that, as a result of this success, unemployment is down 38% in her constituency since 2010. I was particularly delighted to pay a visit with her to one of them, My Plumber Ltd, and to meet the wonderful Ollie, who was the apprentice there in charge.
Kevin Brennan (Cardiff West) (Lab)
One fiscal measure that affects business a great deal is the rate of VAT, and every Conservative Government put up VAT. In 1979, they put it up from 8% to 15%; in 1991, up to 17.5%; in 1994, on fuel and power; and in 2010, VAT was raised again to 20%. So we know what they will do, but let us give them one more chance. Will the hon. Lady rule out putting up VAT if in power after May?
Andrea Leadsom
It is extraordinary. I wonder if the hon. Gentleman would like to admit that every Labour Government when they leave office leave unemployment higher than when they came in. That is the truth of the matter. The Government are sorting out the mess left by the Labour Government, which was the worst financial crisis in British peacetime.