Richard Drax
Main Page: Richard Drax (Conservative - South Dorset)Department Debates - View all Richard Drax's debates with the HM Treasury
(2 years ago)
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Jeremy Hunt
I am very aware of the pressures and issues of childcare. The £4.7 billion increase in the social care budget will make a difference to people with caring responsibilities, with potentially another 200,000 packages, but I want to return to this issue and I take what the hon. Lady says very seriously.
Richard Drax (South Dorset) (Con)
I have huge sympathy for my right hon. Friend. We are facing severe financial challenges for the reasons he explained so well, but Members on both sides of the House are promising to spend billions and billions more pounds. I remind the House that it is the private sector, and hardworking people through their taxes, who pay for Government expenditure. Does my right hon. Friend agree that raising taxes on both risks stifling the growth and productivity that he and I both want, and that would counter the recession we are now in?
Jeremy Hunt
My hon. Friend is right to make the case for a lightly taxed dynamic economy, and I would like to bring taxes down from their current level. We are faced with the necessity of doing something fast to restore sound money and bring inflation down from 11%, which is why we have made difficult decisions today. But yes, my hon. Friend is absolutely right: there is no future for this country unless we get back on the path to being a lower taxed economy.