Taxation: Deficit Reduction

Lord Tebbit Excerpts

Thursday 28th October 2010 Lords Chamber

[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.