"When the money's piled up in the pot, then you give it away in tax cuts. It only makes sense to look at this over an economic cycle. You can't look at it in a single year, or even necessarily in a four-year parliament
His comments re affirm pledges made by both David Cameron and George Osbourne over the weekend and again in an inteview with William Hague on this morning's Andrew Marr programme.
Iain Martin is a little to say the least disappointed pointing out
It took Britain just six years to win the Second World War. The lack of ambition on this subject is breathtaking.
There will be many a Tory activist, and more than a few members of the shadow cabinet, reading Hammond's words on tax and getting very angry
Generally though the spring conference seems to have gone well.The big theme was the family,Cameron following uo his appearance on ITN with a speach in which he affirms
My ambition is to make Britain more family-friendly. To make our country a better place to bring up children. Not just because it's the right thing to do, not just because my family is the most important thing in my life, but because families should be the most important thing in our country's life.
Something that will go down down in the Blue rinse brigade.
Although not in all quarters,
I'm not convinced about David Cameron's "family friendly" agenda that dominated his speech at the end of the conference.says Jon Craig
Obviously he thinks it's a vote winner. But I thought it was rather odd that the Tory leader promised to spend £200 million on recruiting more health visitors and at the same time told his party they would have to get used to saying no more often than yes to spending pledges.
And over at the Sindy Cole Morton asks whether Cameron will regret placing tots in the frontline?
As he points out
Gordon Brown wouldn't feel comfortable with any of it. Both as a politician and a man he seems to have benefited enormously from having a wife and two children – although there has been suffering too, in the death of their first-born, Jennifer. Mr Brown has a son with cystic fibrosis but he has never allowed his family to be filmed or photographed, except for official portraits.