Andrew Lewin
Main Page: Andrew Lewin (Labour - Welwyn Hatfield)Department Debates - View all Andrew Lewin's debates with the HM Treasury
(1 day, 5 hours ago)
Commons ChamberI came here this morning expecting to be critiqued by the Opposition for their view of Government policy; I did not expect a critique of my knowledge of history, but that appears to be the route that the right hon. Gentleman wants to take. When I gave way to the right hon. Member for Gainsborough (Sir Edward Leigh) yesterday, my right hon. Friend the Health Secretary said I was being too generous, and I am inclined to agree with him.
On the broader point just made by the right hon. Member for New Forest East (Sir Julian Lewis), I think we need to be really careful about downplaying the seriousness of the OBR publishing its forecast early. It is not a “narrow matter”, as the right hon. Member for Salisbury (John Glen) said; we cannot simply brush it away. This is a serious leak of highly sensitive information, and we take it very seriously as a Government.
Andrew Lewin (Welwyn Hatfield) (Lab)
Three years ago, the role of the OBR came into sharp focus after the delivery of another Budget, which became known as the mini-Budget, by which the markets were sent spiralling and the Bank of England was forced to take emergency action. Does my right hon. Friend agree that, while the events of this last week have been serious, we have taken action within a week? Three years on, we are still living with the consequences of the decisions taken by the Conservatives.
My hon. Friend is absolutely right that people across Britain are still living with the consequences of what the previous Government did in that mini-Budget, when they sidelined the OBR. In fact, one of the reasons we are so keen to protect and strengthen the OBR’s integrity is the vital role it plays in our fiscal framework. The very first Bill passed by this Government included the fiscal lock, which now prevents the OBR from being sidelined.