Lord Tebbit
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Taxation: Deficit Reduction
Lord Tebbit Excerpts(14 years, 10 months ago)
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Lord Sassoon
We are consulting widely in the way that is described and we will come forward with proposals in due course. In the mean time, we have allocated an additional £900 million of expenditure to HMRC over the spending review period, which is expected to result in annual revenue increments of £7 billion by the end of that review period. We are taking action very quickly in this area—much more so than did the previous Government.
Lord Tebbit
My Lords, will my noble friend choose his words a little more carefully at times? Is it not a fact that in every year through the period of this public expenditure survey, public expenditure will increase and not reduce?
Lord Sassoon
My Lords, I will try to be very careful with my wording and simply agree absolutely with what my noble friend has said.