IMF

Debate between George Osborne and Bob Stewart

Monday 23rd April 2012 Commons Chamber

[Mr Osborne]

If the world were unable to provide the IMF with the resources it needed, people would see that the world was not able to act as a whole to deal with world problems. By the way, I happen to believe that there is no prospect that the shadow Chancellor would have taken a different decision from the one I have taken if he were doing my job. He takes the position he does simply because he is sitting on the Opposition Benches.

[Bob Stewart (Beckenham) (Con)]

I will repeat almost exactly what my right hon. Friend just said. Can he envisage any Chancellor of any party not making a decision such as the one he made this weekend for contingency funding to help out the IMF?

[Mr Osborne]

I do not think that any Chancellor since the creation of the IMF would have taken a different decision. In the end, all parties—at least, until today—have recognised that the IMF is an incredibly important institution for the stability of the global economy. If was created under a Labour Government, and it would be pretty remarkable if a Labour Chancellor were to try to pull the plug on Britain’s participation in it.