Capital Gains Tax (Rates)

Debate between Mary Macleod and Tobias Ellwood

Wednesday 23rd June 2010 Commons Chamber

[Mary Macleod (Brentford and Isleworth) (Con)]

The structural deficit is higher.

[Mr Ellwood]

As my hon. Friend the Member for Brentford and Isleworth (Mary Macleod) says from a sedentary position, the structural deficit is actually higher.

Let me deal now with total borrowing as stated by the Office for Budget Responsibility. This is now expected to fall by 2.1% of GDP by 2015, or by £37 billion, which is exactly half of what Labour were predicting, and to reach 1.1% by 2016.