Finance (No. 4) Bill

Debate between Alun Cairns and Charlie Elphicke

Wednesday 18th April 2012 Commons Chamber

[Alun Cairns]

It is interesting that the hon. Gentleman is extremely selective in whom he quotes and when he quotes them. He chooses to quote the OBR’s figures when it suits his argument on one occasion, but chooses to quote the HMRC’s figures when it suits his argument on another occasion. That relates back to the uncertainty that I mentioned.

[Charlie Elphicke]

I have a couple of points. I always understood that the issue of the 50p rate was not in our manifesto because the previous Government said that it was temporary. It therefore did not need to be in our manifesto, because it was always meant to be a temporary measure. On the nonsense that Opposition Members have spouted about business investment, has my hon. Friend seen paragraph 3.62 of the OBR’s “Economic and fiscal outlook”, which states:

“We therefore expect only moderate growth in business investment this year as the heightened uncertainty from the ongoing euro area difficulties limits firms’ investment plans”?

It is not the UK that is at fault, but the eurozone, which the Opposition wanted to take us into.