Tax Revenue And Public Expenditure

EDM number 1361 in 2008-09, proposed by Frank Field on 27/04/2009.
Categorised under the topic of Economic policy.

That this House notes the real danger the country faces in borrowing relatively more than any other G8 country to balance the national accounts; is concerned that neither the Government nor the Official Opposition has published the changes that will be required to tax revenues and public expenditure levels over the short to medium term, preferring to leave such discussions until after a general election; believes that it is increasingly likely in these circumstances that the Government will find it ever more difficult to raise the necessary amount of debt, with all the dangers such a failure entails for the value of the UK's currency and its future prosperity; believes that should such a scenario develop the Government will be forced into a slash and burn strategy to public services in an attempt to regain the confidence of lenders; and calls on the Leader of the House to bring forward proposals to set up a special committee to begin detailing the changes necessary to balance the national accounts over the medium term, as such an approach would allow a strategy that was radical and in the interests of people on modest incomes, whilst also laying the foundations for a secure recovery for the country's social and economic fortunes.

This motion has been signed by a total of 30 MPs.