Oral Answers to Questions

Lord Austin of Dudley Excerpts

Wednesday 9th February 2011 Commons Chamber

[The Prime Minister]

My hon. Friend makes a very good point. We have prioritised, in a difficult spending round, spending on capital infrastructure, including the scheme that he mentions. It is important, as we go for growth in our country, that we put capital expenditure into our roads and railways, and things that will help our economy to grow. That is exactly what we are doing in my hon. Friend’s constituency, and in many other constituencies across the country.

[Ian Austin (Dudley North) (Lab)]

Q13. The Prime Minister insists that the financial crisis was caused by a lack of regulation, but even after the collapse of Northern Rock he complained that the last Government had subjected the banks to excessive bureaucracy and too much regulation. He promised to give them an easier ride, saying,“government needs to do less taxing and regulating”.Is that why donors in the City have given the Tory party so much money?

[The Prime Minister]

I remember a time when the hon. Gentleman used to write the last Prime Minister’s questions. Given what he has said, I think that the last Prime Minister is writing his questions. The fact is that Labour left us the most indebted households, the most bust banks, and a deficit—[Interruption.]