Douglas Carswell
Main Page: Douglas Carswell (Independent - Clacton)Department Debates - View all Douglas Carswell's debates with the HM Treasury
(14 years ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
The plans to deal with Ireland’s budget deficit are a very important part of the Irish Government’s approach, but they are also part of the international package. The further fiscal tightening was specifically referred to in the statement issued by Finance Ministers yesterday. That will mean that Ireland has a budget deficit of less than 3% by 2014. If we had not taken the action that this Government have taken to accelerate the proposals we inherited, we would have been the only European country in that year with a budget deficit of more than 3%.
Mr Douglas Carswell (Clacton) (Con)
We might be outside the euro as a currency union, but does the small print of the Lisbon treaty not in effect make us, as we are discovering, members of the euro as a debt union? Notwithstanding protocol 15, article 122 of the Lisbon treaty means that we pay. Will not that mean enormous non-discretionary liabilities as and when other eurozone countries seek similar bail-outs?
Mr Osborne
As I said in reply to earlier questions, we entered into certain commitments about the mechanism that I did not support at the time; I have made that clear. I was an opponent of the Lisbon treaty, as were many hon. Members. However, I have to deal with the world as I find it today, and that is a world in which Ireland’s economic situation is unsustainable. One of the reasons for choosing to offer a bilateral loan is precisely so that this Parliament, including my hon. Friend, can have a view and a vote on it, and we can account for that to our constituents.