"My Lords, I will speak briefly in support of Amendment 483, which I have put my name to. The noble Lord, Lord Layard, has set out the arguments very eloquently. I would merely like to add the perspective of a former Treasury official.
"My Lords, the Financial Secretary is right to point out that yields on German bunds have risen almost as much as yields on gilts in the UK over the last month, but does he recognise the importance of ensuring that the UK’s economic policy does not stand out from other …..." Lord Macpherson of Earl's Court - View Speech
"My Lords, one of the most sensible measures introduced by Mr Sunak when he was Chancellor of the Exchequer was a health and social care levy. Sadly, its abolition is the one measure which survived from the Kwasi Kwarteng Budget of 2022. The benefit of a health and social care …..." Lord Macpherson of Earl's Court - View Speech
"My Lords, I congratulate the Treasury on this plan, which is well thought through. If the economy is going to grow, we have to ensure that public investment grows faster than public consumption. That is reflected in the Government’s plans. But, like my noble friend Lord Birt, I worked for …..." Lord Macpherson of Earl's Court - View Speech
"My Lords, as the Minister knows, I did not welcome this decision. Turning to principles, does he agree that cliff edges in the tax and benefits system are undesirable? Can he explain whether, when a pensioner’s income moves from £34,999 to £35,000, support will be tapered away, or whether £1 …..." Lord Macpherson of Earl's Court - View Speech
"My Lords, as one of the few supporters of the original measure—like my friend, the noble Lord, Lord Clarke—I feel the Minister’s pain. But when the Treasury has to retreat, it is best to concede more rather than less; in that respect only, I congratulate the Minister on the proposal. …..." Lord Macpherson of Earl's Court - View Speech