Global Economy

Debate between George Osborne and Margaret Curran

Thursday 11th August 2011 Commons Chamber

[Mr Osborne]

I think we have got ahead of the curve. As I say, I am not one of those Finance Ministers who are having to come to their Parliaments and announce emergency budget cuts because they did not get ahead of the curve. It is important for the eurozone countries, and all countries, to have fiscal credibility. There are many good examples in the eurozone of countries that have done that and we are part of that pack.

[Margaret Curran (Glasgow East) (Lab)]

I draw the Chancellor’s attention to the unemployment rate in my constituency, where 24 people are chasing every vacancy. People in my constituency have learned lessons from previous years: we learned from Mrs Thatcher that mass unemployment is not a price worth paying. What does the Chancellor intend to do to tackle unemployment in my constituency, which seems likely to rise?

[Mr Osborne]

I would make the observation that only every Labour Government in history have left office with unemployment higher than when they came into office.