My Lords, it is interesting how the noble Lord, Lord Myners, praised Alistair Darling in his opening speech but not the previous Chancellor’s budget deficit expansion. I should like to remind the House that in an interview in August last year, he reflected that the Labour Government had abandoned fiscal...

My Lords, it is interesting how the noble Lord, Lord Myners, praised Alistair Darling in his opening speech but not the previous Chancellor’s budget deficit expansion. I should like to remind the House that in an interview in August last year, he reflected that the Labour Government had abandoned fiscal...

My Lords, I did not serve on your Lordships’ Economic Affairs Committee, but I congratulate the noble Lord, Lord MacGregor, and his committee on the report. It was very sensible. By tradition, the Second Reading debate on a Finance Bill in your Lordships’ House is an occasion to consider the...

My Lords, I did not serve on your Lordships’ Economic Affairs Committee, but I congratulate the noble Lord, Lord MacGregor, and his committee on the report. It was very sensible. By tradition, the Second Reading debate on a Finance Bill in your Lordships’ House is an occasion to consider the...

My Lords, when introducing the Budget, the Chancellor told us that it was about reforming the nation's economy so that we have enduring growth and jobs for the future and about doing what the Government could to help families with the cost of living and the high price of oil....

My Lords, when introducing the Budget, the Chancellor told us that it was about reforming the nation's economy so that we have enduring growth and jobs for the future and about doing what the Government could to help families with the cost of living and the high price of oil....

My Lords, I applaud the general direction of the Chancellor’s attack on public spending, yet I nurse concerns about the Government’s economic coherence. The Government’s growth strategy is deficient. Growth requires stronger supply-side measures, starting with deregulation. I tabled a Written Question when the Government had been in office for...

My Lords, I applaud the general direction of the Chancellor’s attack on public spending, yet I nurse concerns about the Government’s economic coherence. The Government’s growth strategy is deficient. Growth requires stronger supply-side measures, starting with deregulation. I tabled a Written Question when the Government had been in office for...

My Lords, I congratulate my noble friend’s committee on its excellent report. I am also extremely glad to notice the development of a consultation system on detailed tax provisions. When I was at the Bar, I spent quite a lot of my time trying to understand the tax provisions that...

My Lords, I congratulate my noble friend’s committee on its excellent report. I am also extremely glad to notice the development of a consultation system on detailed tax provisions. When I was at the Bar, I spent quite a lot of my time trying to understand the tax provisions that...

My Lords, I welcome the debate. I have nothing particular to add to what other noble Lords have said about the interesting report of the noble Lord, Lord MacGregor, which I welcome. I especially welcome the transparency and the consultation that the Government have introduced in deciding their tax legislation....

My Lords, I welcome the debate. I have nothing particular to add to what other noble Lords have said about the interesting report of the noble Lord, Lord MacGregor, which I welcome. I especially welcome the transparency and the consultation that the Government have introduced in deciding their tax legislation....

My Lords, in a debate on the Finance (No. 3) Bill in the House of Commons on 26 April this year, the Labour Party set out how the fundamental policy of the Government was putting jobs and growth at risk. There was a risk there. One important result of the...

My Lords, in a debate on the Finance (No. 3) Bill in the House of Commons on 26 April this year, the Labour Party set out how the fundamental policy of the Government was putting jobs and growth at risk. There was a risk there. One important result of the...

I had almost finished, but I am very happy to give way.

I had almost finished, but I am very happy to give way.

Before the noble Lord sits down, there have been many glowing references to Alistair Darling and how wonderful he was as Chancellor, but no references at all to Gordon Brown. Was that a coincidence?

Before the noble Lord sits down, there have been many glowing references to Alistair Darling and how wonderful he was as Chancellor, but no references at all to Gordon Brown. Was that a coincidence?

My Lords, the Minister has treated us to a rich helping of palilalian piffle when it comes to the performance of the economy. His speech would be a comedy if the underlying story were not a tragedy. At least we know that the Minister is not guilty of being involved...

My Lords, the Minister has treated us to a rich helping of palilalian piffle when it comes to the performance of the economy. His speech would be a comedy if the underlying story were not a tragedy. At least we know that the Minister is not guilty of being involved...

My Lords—

My Lords—

My Lords, as noble Lords are aware, this Government have taken difficult decisions in our two Budgets to tackle an unenviable inheritance—the largest peacetime deficit on record and an economy struggling to recover from the financial crisis. We have taken the necessary decisions to eliminate our structural current deficit over...

My Lords, as noble Lords are aware, this Government have taken difficult decisions in our two Budgets to tackle an unenviable inheritance—the largest peacetime deficit on record and an economy struggling to recover from the financial crisis. We have taken the necessary decisions to eliminate our structural current deficit over...

That the Bill be read a second time.

That the Bill be read a second time.

My Lords, I shall not add to the justified praise of the report prepared by the noble Lord, Lord MacGregor, and his committee, nor shall I contribute to the macroeconomic other debate which is taking place. First, it is with sincerity that I congratulate the noble Lord, Lord Magan, on...

My Lords, I shall not add to the justified praise of the report prepared by the noble Lord, Lord MacGregor, and his committee, nor shall I contribute to the macroeconomic other debate which is taking place. First, it is with sincerity that I congratulate the noble Lord, Lord Magan, on...

My Lords, following on from the noble Lord, Lord Anderson, I, too, would like to express my concern that the Government are taking so long to honour their very important commitment to recognise marriage in the tax system. It was not that long ago that the Conservative Party, when in...

My Lords, following on from the noble Lord, Lord Anderson, I, too, would like to express my concern that the Government are taking so long to honour their very important commitment to recognise marriage in the tax system. It was not that long ago that the Conservative Party, when in...

My Lords, the philosopher Kierkegaard said: "““Life can only be understood backwards; but it must be lived forwards””." Right now the Opposition blame our current economic difficulties on the global economic crisis which started with the subprime crisis five years ago, and the current Government blame the previous Government’s mismanagement...

My Lords, the philosopher Kierkegaard said: "““Life can only be understood backwards; but it must be lived forwards””." Right now the Opposition blame our current economic difficulties on the global economic crisis which started with the subprime crisis five years ago, and the current Government blame the previous Government’s mismanagement...

My Lords, I thank the noble Lord, Lord Sassoon, for his personal apology to me for saying that I was wrong when I quoted the Chancellor as saying that flexibility was built into his plan. I am bound to tell the noble Lord, for whom I have a lot of...

My Lords, I thank the noble Lord, Lord Sassoon, for his personal apology to me for saying that I was wrong when I quoted the Chancellor as saying that flexibility was built into his plan. I am bound to tell the noble Lord, for whom I have a lot of...

My Lords, I was privileged to be a member of the Finance Bill sub-committee under the excellent chairmanship of the noble Lord, Lord MacGregor of Pulham Market. It is good to have the opportunity this evening to debate a number of those issues and put them in to a wider...

My Lords, I was privileged to be a member of the Finance Bill sub-committee under the excellent chairmanship of the noble Lord, Lord MacGregor of Pulham Market. It is good to have the opportunity this evening to debate a number of those issues and put them in to a wider...

My Lords, we are really having two separate but related debates: on the one hand, on the report of the Finance Bill sub-committee on the Budget of 2011—I congratulate my noble friend Lord MacGregor and his committee on what they have produced; and, on the other hand, we are having...

My Lords, we are really having two separate but related debates: on the one hand, on the report of the Finance Bill sub-committee on the Budget of 2011—I congratulate my noble friend Lord MacGregor and his committee on what they have produced; and, on the other hand, we are having...