Autumn Statement

Lord Beith Excerpts

Thursday 5th December 2013 Commons Chamber

[Mr Osborne]

First, all receipts from any of these tax measures are now independently audited by the Office for Budget Responsibility, so there is an independent audit. The truth is that some of these taxes turn out to raise less than we hoped, and some raise more. For example, we are getting less from Switzerland, and we are speaking directly with the Swiss Government about that, but the deal with Liechtenstein is bringing in more money than was forecast. Some of the other measures we have taken—for example, to prevent the avoidance of stamp duty on residential property, particularly in London—are raising more money than forecast.

On the OECD, the United Kingdom and the Prime Minister have led the effort at international level to get international rules on base erosion and profit shifting to make sure that there is a global response to a global problem.

[Sir Alan Beith (Berwick-upon-Tweed) (LD)]

Do not cutting tax on low pay, helping small business, freezing the petrol tax and getting from recession into growth show what can be achieved when two parties are prepared to work together and take the tough decisions that Labour would not have had the courage to take?

[Mr Osborne]

I agree with the right hon. Gentleman. In 2010, there was a hung Parliament and the potential for political paralysis in this country, but two political parties from different political traditions came together. It is a remarkable testament to the strength of this Government and the leadership of the Prime Minister and the Deputy Prime Minister that we can put together these complicated, difficult autumn statements, with difficult decisions being taken on things such as the pension age, public expenditure in Whitehall and tax avoidance. We can do that together; of course, I would rather do it alone, but that is up to the British people in the next election.