Adrian Bailey
Main Page: Adrian Bailey (Labour (Co-op) - West Bromwich West)Department Debates - View all Adrian Bailey's debates with the HM Treasury
(11 years, 10 months ago)
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Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
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Mr Osborne
I can assure my hon. Friend that we are not going to repeat the mistakes of the last Labour Government. We are absolutely clear, when it comes to regulating the City and banking—I am about to give evidence to the Banking Commission—that we are taking the tough action. [Interruption.] The right hon. Member for Morley and Outwood (Ed Balls) says “Pathetic”, but he was the City Minister when the Royal Bank of Scotland bought ABN-AMRO and when Northern Rock was offering 125% mortgages. He was the City Minister when the City got completely out of control, and he should get up and apologise for it.
Mr Adrian Bailey (West Bromwich West) (Lab/Co-op)
In May last year, the Chancellor said that when Britain’s outlook was moved off negative, it demonstrated that the country now had economic stability. Now that it is being downgraded, would he like to give his assessment of our economic stability?
Mr Osborne
I know that Labour MPs keep reading out the Whips’ note, but perhaps the Whips will also circulate a note on what Labour’s economic policy is, and then we can have a more constructive debate.