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Wednesday, 4 October, 2000, 16:52 GMT 17:52 UK
Letwin argues Tory third way
Oliver Letwin
Oliver Letwin - offered the Tories' 'golden combination'
A Tory government will both deliver lower taxes while increasing public spending, shadow chief secretary to the treasury Oliver Letwin has pledged.

Invoking Prime Minister Tony Blair, Mr Letwin said the Tory's economic strategy amounted to a "third way" - sharing the proceeds of growth between better public services and lower taxes.


We are determined to share the proceeds of economic prosperity between high quality public services and tax cuts that give people more control over their own lives

Oliver Letwin
Mr Letwin told representatives at the Tory conference in Bournemouth: "We are determined to share the proceeds of economic prosperity between high quality public services and tax cuts that give people more control over their own lives."

"We will achieve that golden combination through a war on waste and a rigorous test on every item of public expenditure."

Only projects that were deemed under that test to be more a worthwhile use of taxpaxers' money "than letting a family put a better meal on their own table" could go ahead.

Brown spending 12,000 a second

Mr Letwin attacked the chancellor saying: "While we are here in this hall someone called Gordon Brown is spending 12,000 a second."

And the chancellor, Mr Letwin asserted, had plans that would mean that spending would rise to 14,000 a second in three years time.

"We are determined to share the proceeds of economic prosperity between high quality public services and tax cuts that give people more control over their own lives.

"To fund that [Mr Brown] would need to raise another 9,000 a year from every taxpayer in Britain.

"If he still believes in petrol taxes by that time and if, heaven forfend, he's still in power by then, he will need to add another 390p a litre."

The Tories - on the other hand - were offering a tax system that was "prudent, moderate and sustainable", he said.

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See also:

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