Tobias Ellwood
Main Page: Tobias Ellwood (Conservative - Bournemouth East)Department Debates - View all Tobias Ellwood's debates with the HM Treasury
(14 years, 5 months ago)
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Mr Laws
It is impossible to pick a figure out of the air, but I can tell the hon. Gentleman—he will be delighted to hear this—that Treasury officials and the Governor of the Bank of England pointed out the beneficial effects of this package in keeping interest rates down and stopping the tax on jobs that would otherwise eliminate them. It is therefore likely that over time the net effect of taking such action will be to support employment and the economy rather than to eliminate jobs.
Mr Tobias Ellwood (Bournemouth East) (Con)
The new shadow Chancellor shows some nerve coming here complaining about efficiency savings, given that he was responsible for so much waste. An example of that waste is the so-called national Potato Council, which costs the taxpayer £50 million a year. How much money was wasted there? I am glad to see it go, and I am glad to see other cuts being made as well.
Mr Laws
My hon. Friend is absolutely right. It is staggering that we have been able to find so much waste in Government expenditure, in spite of the state of the public finances and public borrowing. We would have expected the previous Government to have taken action to eliminate some of the waste. We are determined that the exercise that we have embarked on will be not only an efficiency drive, but one that delivers real cost savings in a way that some of the exercises under the last Labour Government simply did not do.