Lord Grocott
Main Page: Lord Grocott (Labour - Life peer)Department Debates - View all Lord Grocott's debates with the HM Treasury
(11 years, 10 months ago)
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Lord Sassoon
My noble friend is completely right, and it would be a one-club game if we were not doing all sorts of things on the supply side, such as reducing corporation tax from 28% to 22%, the national loan guarantee scheme of £20 billion, cutting red tape for the first time in living history, enterprise zones, the Regional Growth Fund, the largest number of apprenticeships ever funded by any Government and completely overhauling the planning system, to name a few supply-side reforms.
Lord Grocott
Is it in any way conceivable that some of the responsibility—just a smidgeon—for the fact that we are in a double-dip recession lies with the Government?
Lord Sassoon
We are working extremely hard on the reforms that I have talked about to make sure that we have sustainable public finances and a more balanced economy.