Lord Austin of Dudley
Main Page: Lord Austin of Dudley (Non-affiliated - Life peer)Department Debates - View all Lord Austin of Dudley's debates with the HM Treasury
(12 years, 9 months ago)
Commons Chamber9. What assessment he has made of the effect of fiscal policy on the level of economic growth in 2011.
Tackling the deficit is necessary for supporting sustainable economic growth. The Government’s credible consolidation plan has restored confidence in the UK’s fiscal position, helped avoid a rise in market interest rates, and allowed a more activist monetary policy to support the economy.
We know that this Government’s Ministers think they are always right and everyone else is always wrong, but how do they explain why growth in America, which took a more balanced approach to dealing with the deficit, was twice the rate here in the UK, and if it is, as they insist, all the eurozone’s fault, why was it only exports that prevented the British economy from lurching back into recession last year?