Finance (No. 2) Bill

Andrew Love Excerpts

Monday 11th October 2010 Commons Chamber

[Ms Eagle]

Yes, I do think we have to keep a careful eye on what is going on elsewhere in the world. It is clear that the mantra that there is no alternative is simply not true.

[Mr Andrew Love (Edmonton) (Lab/Co-op)]

I add my support for my hon. Friend after her elevation to her new position. She mentioned quantitative easing, and she will no doubt have seen the widespread reports in the newspapers over the weekend that the Chancellor has given it a green light. Is that not his plan B, and his way of avoiding the so-called “difficult decisions” and passing them on to the Bank of England?

[Ms Eagle]

It certainly indicates that there is some nervousness and worry about the downturn in what the economic indicators say about the effect of measures that were announced with great fanfare in June.