Oral Answers to Questions

Peter Bottomley Excerpts

Tuesday 8th June 2010 Commons Chamber

[Danny Alexander]

He works at No. 10 Downing street—[Interruption]—and I will give the hon. Gentleman a full response if he wants one.

[Peter Bottomley (Worthing West) (Con)]

5. What steps his Department is taking to increase economic growth.

[The Exchequer Secretary to the Treasury (Mr David Gauke)]

The Government are taking action to support enterprise and create a fair, competitive and efficient tax system to deliver the private sector-led recovery that will be the foundation of future growth. Fundamental to this strategy will be tackling the budget deficit and providing a stable macro-economic environment that will underpin private sector investment and growth. Further details of the action that the Government will take to secure future growth will be included in the emergency Budget on 22 June.

[Peter Bottomley]

We agree that investment, enterprise and modest tax rates will help the economy grow out of the inherited mess. In addition to the academic work of Arthur Laffer and Sir James Mirrlees, will my hon. Friend hold in mind the situation of an elderly lone mother who may have put money aside to buy a house, and after decades may wish to sell it, without too high a capital gains tax bill?

[Mr Gauke]

Obviously, this Government will want to encourage hard work and enterprise, just as the Government in which my hon. Friend served with much distinction in the 1980s did. As for specific tax measures, I am sure that my hon. Friend will understand that with only a fortnight until the Budget, I do not intend to make any specific comments. None the less, I am grateful for his remarks.