Mike Martin
Main Page: Mike Martin (Liberal Democrat - Tunbridge Wells)Department Debates - View all Mike Martin's debates with the HM Treasury
(1 day, 11 hours ago)
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Mike Martin (Tunbridge Wells) (LD)
The Government’s figures were pretty shoddy when the policy was announced at the Budget. How confident is the shadow Minister that the Government’s figures are any better now?
Gareth Davies
My right hon. Friend the shadow Secretary of State has engaged extensively with farmers and those who represent farmers. The reason I am raising this point now is because the numbers are questionable—and not just on who is impacted by the measures but the net revenue to the Exchequer too. Some have suggested that the changes in clause 62 may even end up costing the Exchequer. While the OBR has forecast that £500 million will be raised through clause 62 in 2029-30, the Confederation of British Industry’s analysis suggests instead a net loss to the Government of some £1.9 billion over the forecast period because of the impact that clause 62 will have on the wider economy.