Charlie Elphicke
Main Page: Charlie Elphicke (Independent - Dover)Department Debates - View all Charlie Elphicke's debates with the HM Treasury
(11 years, 5 months ago)
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Sajid Javid
What I see is jobs being created in the private sector at a record rate in this country—1.3 million jobs in the past three years; a faster rate of job creation than any other G7 country last year. If the hon. Gentleman really cared about his constituents, he would welcome that.
Charlie Elphicke (Dover) (Con)
What has the effect been of Government policies not just on petrol but on keeping interest rates low, freezing council tax, cutting income tax and helping pensioners?
Sajid Javid
My hon. Friend has raised the issue of interest rates. If we had not had a credible policy to deal with the record budget deficit that the previous Government left behind, interest rates would be a lot higher. In fact, in the last Budget delivered by them, interest payments on Government debt would have been £30 billion higher in this Parliament. If interest rates were just 1% higher, mortgages would rise by almost £1,000 a year for the average household.