(13 years, 8 months ago)
Lords ChamberMay I ask the Leader of the House whether it is normal to make a speech like this on the Question whether the Bill do now pass?
It is unusual, but it is in order. I think that the noble Lord, Lord Eatwell, is about to wrap up his remarks, but he was being constructive and helpful.
I am indeed. It is appropriate to thank people, when a Bill has gone through in this co-operative manner, for what has been achieved.
I know that the Government think that this side of the House has taken a somewhat belt-and-braces approach to the independence of the OBR; I am sure that Sir Humphrey, or perhaps Sir Nicholas, does. However, it can do no harm to the OBR’s reputation to have a belt in place when the braces fail.
It is the Government’s responsibility now to ensure that this important experiment in economic governance is a success. We on this side wish Mr Chote and his team well.
(14 years ago)
Lords ChamberMy Lords, we have agreed to extra time for this Statement, but perhaps we should, as a matter of courtesy, give priority to those noble Lords who sat through the reading of the Statement, rather than those wandering in five minutes before the end.
I take it that the Government themselves acknowledge that the recovery is fragile and that, by reducing planned public expenditure and increasing taxes so drastically—the Statement rather skated over the taxes aspect—thereby taking demand out of the economy, they are taking some risk, at the very least, with that fragile recovery. In that context, was it sensible to announce the reduction of public sector jobs by 490,000 before publishing the detailed departmental plans from which, presumably, that figure was derived? As a result, not merely the holders of the 490,000 jobs but the whole public sector—millions of people and their families—will be deeply anxious about their future and will be reducing, perhaps drastically, household expenditure. That will take more demand out of the economy quite unnecessarily in a context where we require the reverse of that.