Lord McCabe
Main Page: Lord McCabe (Labour - Life peer)Department Debates - View all Lord McCabe's debates with the HM Treasury
(12 years, 3 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
We have introduced investment. We have increased investment in renewable energy, so that a record amount is now going in. My right hon. Friend the Chief Secretary to the Treasury will set out the strike prices this week, which will give long-term investors the certainty needed to increase renewable energy investment.
Steve McCabe (Birmingham, Selly Oak) (Lab)
Why is the Chancellor not big enough to admit that he was wrong to claim that borrowing fell last year?
Mr Osborne
When I became Chancellor we were borrowing £157 billion a year. We are forecast to borrow £108 billion a year, which is a reduction in borrowing.