Steve McCabe
Main Page: Steve McCabe (Labour - Birmingham, Selly Oak)Department Debates - View all Steve McCabe's debates with the HM Treasury
(1 year, 5 months ago)
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Jeremy Hunt
My hon. Friend is right to make the case for a lightly taxed dynamic economy, and I would like to bring taxes down from their current level. We are faced with the necessity of doing something fast to restore sound money and bring inflation down from 11%, which is why we have made difficult decisions today. But yes, my hon. Friend is absolutely right: there is no future for this country unless we get back on the path to being a lower taxed economy.
Steve McCabe (Birmingham, Selly Oak) (Lab)
As we have seen, the Tory party might learn more from its mistakes if it wasn’t so busy denying them, and I congratulate the Chancellor on a wonderful, “not me, guv” performance. In the interests of candour, will he confirm that what he told the House today is that after 12 years in power, the Tory plan is to cut around £27 billion from public spending?
Jeremy Hunt
I confirm that what the hon. Gentleman said is wrong. The plans I announced today show that we are protecting public spending in real terms over the next five years.