Despite the relative stability of the economy, what the Chancellor is doing with it is alarming people across the length and breadth of the country. Whatever the Government's protestations and whatever phrase or spin they choose to put on the situation, there is absolutely no argument that the tax burden has risen under this Government. They may talk about a couple of pence off petrol or an increase in the children's tax credit, but the remorseless, indisputable truth is that, in 1997, the tax burden was 35.3 per cent. of gross domestic product and, today, it is 37.7 per cent. Does my hon. North America still has a very much lower tax burden as a percentage of GDP than the Government are currently imposing.
Friend is absolutely right.
I intend to deal with the position of the United States shortly.