HC Deb 15 April 1958 vol 586 c59

It is with these principles and objectives in mind that I now ask the Committee to consider my proposals in the field of taxation. If, in the economic circumstances which I have described and with the limited resources which I have available, I were to remit substantial sums of taxation, the result would, in my view, be to jeopardize the consolidation of our economic position which must be our immediate task. That would be rash indeed.

On the other hand, I think that I can justifiably give up some small amount of revenue if, by so doing, I can strengthen our economy at one or two points, improve our tax system, and deal with several cases of special need. Those, therefore, are the objects to which I propose to devote my attention within the narrow limits of finance which I judge to be available this year.