Oral Answers to Questions

Lord Harrington of Watford Excerpts

Tuesday 22nd March 2011 Commons Chamber

[Mr Osborne]

Our country’s credit rating was on negative watch when we came to office and as a country we did not have a credible plan to reduce the budget deficit. Since that plan has been put in place we have been able to see the effects because our market interest rates and our spreads over bunds have come down. We have interest rates that are closer to Germany’s despite, as I have said, having a budget deficit left to us that was higher than either Greece’s or Portugal’s.

[Richard Harrington (Watford) (Con)]

Would my right hon. Friend the Chancellor like to inform the House which organisations have made representations to him that the deficit should be halved over the course of this Parliament?

[Mr Osborne]

The Guardian newspaper.