CONSERVATIVE
New Forest East

TREASURY – QUESTIONABLE FIGURE OF A £22 BILLION BLACK HOLE - 03 September 2024

TREASURY – QUESTIONABLE FIGURE OF A £22 BILLION BLACK HOLE - 03 September 2024

Sir Julian Lewis: Given that the House of Commons Library estimates that the covid disaster cost the country between £315 billion and £415 billion, can the Minister explain how it is that even her own questionable figure of a £22 billion black hole is not a great deal higher?

[The Economic Secretary to the Treasury (Tulip Siddiq): I think I thank the right hon. Gentleman for his question, but may I point out gently to him that, had our economy grown at the average rate of other OECD economies over the last 13 years, it would have been £140 billion larger? I also point out that under the Conservatives the tax burden rose to its highest level for 70 years. I will take no lessons from the Conservative party, because the last Government oversaw the biggest drop in household real disposable incomes since records began.]