Tax Increases

Lord Vaizey of Didcot Excerpts

Thursday 10th July 2025 Lords Chamber

[Lord Livermore (Lab)]

The OBR is aware of the Government’s policy. It is for it to certify the costings of that policy in its next forecast. As I have said, we will ask it for that forecast in time for the annual Budget and make decisions based on that.

[Lord Vaizey of Didcot (Con)]

My Lords, as this seems to be a free-for-all on putting forward our economic theories, could we ban discussions of tax cuts and rises and instead look at tax simplification? There is an excellent article in this week’s New Statesman—a magazine that I read assiduously every week—that regurgitates the excellent work by Paul Johnson, who has been mentioned. It points out that we have one of the longest tax codes in the world. George Osborne was undone by a pasty tax. Surely this Minister can see to it that we can tax an ice cream cone properly and really simplify taxes, which would have a huge impact on business confidence.

[Lord Livermore (Lab)]

I am grateful to the noble Lord for his question. It is not for me to ban conversations about tax rises or cuts, but I understand what he says about tax simplification and will take his thoughts about ice cream cones back to my colleagues in the Treasury.