Autumn Forecast

David Nuttall Excerpts

Monday 29th November 2010 Commons Chamber

[Mr Osborne]

If the hon. Gentleman cannot tell the difference between the economic situations in which Britain and Ireland find themselves today perhaps he should not turn up to these events.

I just make this observation. This is an independent report, produced by Robert Chote. [Interruption.] I have had a lot of chuntering from Opposition Front Benchers about the independence of the Office for Budget Responsibility. We set it up on an independent basis and we have given all members of the Treasury Committee the right to approve or reject the members of the budget responsibility committee. We will see whether Opposition Members, including Front Benchers, support this legislation when it comes before Parliament. At the moment, it does not sound as if they will support it, but perhaps they will change their minds.

[Mr David Nuttall (Bury North) (Con)]

Is my right hon. Friend as concerned as I am that over-prescriptive regulation such as that proposed by the Financial Services Authority’s retail distribution review may result in a loss of jobs?

[Mr Osborne]

I know that a number of concerns have been raised about the FSA’s review of that area. Obviously, it is an independent regulator, but I have made sure that those concerns have been drawn to its attention.