Lord Forsyth of Drumlean
Main Page: Lord Forsyth of Drumlean (Conservative - Life peer)Department Debates - View all Lord Forsyth of Drumlean's debates with the HM Treasury
(10 years, 10 months ago)
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Lord Newby
My Lords, the important thing about output is that it is rapidly approaching the previous peak. With every passing set of statistics, we find that output is growing more quickly than we thought. It is interesting to note that the figure today of 1.9% growth in output for the past year is significantly higher than the figure that the ONS thought even in December, when it suggested 1.4%. The message from today's figures is that growth is accelerating quicker than most forecasters thought, and all forward indicators suggest that that trend will continue.
Lord Forsyth of Drumlean (Con)
Does my noble friend agree that the reason we have successful growth is because of the enterprise policies of this Government? Did he note the remarks made over the weekend by the noble Lord, Lord Myners, who was a Treasury Minister at the time that the 50p tax was introduced, that the reintroduction of a 50p tax would be a return to the bad old days of old Labour and the politics of envy? Does he acknowledge that there is no greater joy in heaven than over a sinner who repenteth?