HC Deb 24 June 1998 vol 314 cc505-6W
Mr. Malcolm Bruce

To ask the Chancellor of the Exchequer if he will restate Table 4.5, page 44, of the Economic and Fiscal Strategy report of June 1998, to show total tax receipts and social security contributions before netting-off tax credits; and if he will make a statement.[46390]

Mr. Darling

[holding answer 18 June 1998]: Corrected Budget forecasts of tax credits as a per cent. of GDP were published on 27 March 1998, Official Report, columns 348–50. There were no changes to these forecasts in the Economic and Fiscal Strategy Report.

The Working Families Tax Credit will make work pay for families. It will guarantee a minimum income and will ease both the unemployment and poverty traps.

Mr. Malcolm Bruce

To ask the Chancellor of the Exchequer if he will update Table 1.2, page 11, of the "Financial Statement and Budget Report" of March 1998, to include the new forecasts contained in the Economic and Fiscal Strategy report of June 1998. [46373]

Mr. Darling

[holding answer 18 June 1998]: Forecasts of the public sector net cash requirement, general government net borrowing and the public sector current budget were published in Table 4.5 of the Economic and Fiscal Strategy Report. There have been no changes to the costings of the 1998 Budget measures, shown in Table 1.2. of the "Financial Statement and Budget Report", since the March Budget.

Mr. Heathcoat-Amory

To ask the Chancellor of the Exchequer if he will recalculate tables 4.4, 4.5, 4.6 and 4.7 in the Economic and Fiscal Strategy report on the assumption that GDP grows(a) by 1.5 per cent. in 1998–99 and by 1.75 per cent. in 1999–2000, (b) by 1.25 per cent. in 1998–99 and by 1.5 per cent. in 1999–2000, (c) by 1.0 per cent. in 1998–99 and by 1.25 per cent. in 1999–2000, (d) by 0.75 per cent. in 1998–99 and by 1.0 per cent. in 1999–2000, (e) by 0.5 per cent. in 1998–99 and by 0.75 per cent. in 1999–2000, (f) by 0.25 per cent. in 1998–99 and by 0.5 per cent. in 1999–2000, (g) by 0.0 per cent. in 1998–99 and by 0.25 per cent. in 1999–2000, (h) by –0.5 per cent. in 1998–99 and by 0.0 per cent. in 1999–2000 and (i) by –1.0 per cent. in 1998–99 and by 0.0 per cent. in 1999–2000. [46856]

Mr. Darling

[holding answer 22 June 1998]: Table 4.1 of the Economic and Fiscal Strategy Report set out the economic assumptions underlying the public finance projections. The effect of different growth rates on the public finances would depend on the composition of growth in the revised assumptions, and the reasons for the change in growth.