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Secretary of State for Health

The hon. Gentleman may say it is not true, but his leader and the shadow Chancellor have promised to cut taxes every year under a Conservative Government through a so-called proceeds of growth rule. Their new third fiscal rule applied over the economic cycle would require spending cuts—if enforced this year—of £21 billion. [Interruption.] Opposition Members are chuntering away, saying that they disagree, but they do not need to take my word for it; the Leader of the Opposition admitted that implementing the rule would lead to dramatic cuts in public investment compared to Labour’s plans. These are the right hon. Gentleman’s words—not mine: he said that"““as that money comes in, let’s share that between additional public spending and reductions in taxes. That is a dramatic difference. It would be dramatically different after five years of a Conservative Government””." In the Budget, the Chancellor announced that spending on public services will be £61 billion higher by 2007-08 compared to 2004-05 and that total additional expenditure on the NHS in the coming year will be £10 billion higher than this year—a 10 per cent. increase. The Opposition refuse to match our spending plans.