§ Mr. Deputy Speaker (Mr. Harold Walker)Before I call the Chancellor of the Exchequer, it may be for the convenience of hon. Members if I remind them that at the end of the Chancellor's speech, as in past years, copies of the Budget resolutions will not be handed around in the Chamber but will be available to hon. Members in the Vote Office.
§ The Chancellor of the Exchequer (Mr. Nigel Lawson)The background to this year's Budget—
§ Mr. David Winnick (Walsall, North)Is mass unemployment.
§ Mr. Lawson—is the dramatic and unprecedented fall in the world oil price. [HON. MEMBERS: "Ah."] But the Government's objectives remain unchanged: the conquest of inflation and the creation of an enterprise culture. [Interruption.] And the Government's policies are unchanged, too: policies of sound money and free markets, not least, because these are the only routes to more jobs, and jobs that last.
So my Budget today will carry forward the themes of my two previous Budgets, and sow some seeds for the future. In the course of my speech, I shall begin by reviewing the general economic background to the Budget, and go on to deal with the specific issue of oil. I shall next discuss monetary policy and the fiscal prospect, both this year and next. I shall then turn to the question of direct help for the unemployed. Finally, I shall propose some changes in taxation designed to assist in achieving the economic objectives I have already outlined. As usual, a number of press releases, filling out the details of my proposals, will be available from the Vote Office as soon as I have sat down.