Economic Policies Debate

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Department: HM Treasury

Economic Policies

Lord Grocott Excerpts
Wednesday 4th July 2012

(12 years, 4 months ago)

Lords Chamber
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Lord Sassoon Portrait Lord Sassoon
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My noble friend is completely right, and it would be a one-club game if we were not doing all sorts of things on the supply side, such as reducing corporation tax from 28% to 22%, the national loan guarantee scheme of £20 billion, cutting red tape for the first time in living history, enterprise zones, the Regional Growth Fund, the largest number of apprenticeships ever funded by any Government and completely overhauling the planning system, to name a few supply-side reforms.

Lord Grocott Portrait Lord Grocott
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Is it in any way conceivable that some of the responsibility—just a smidgeon—for the fact that we are in a double-dip recession lies with the Government?

Lord Sassoon Portrait Lord Sassoon
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We are working extremely hard on the reforms that I have talked about to make sure that we have sustainable public finances and a more balanced economy.