Oral Answers to Questions

Geraint Davies Excerpts

Tuesday 29th April 2014 Commons Chamber

[Mr Osborne]

We have provided more than 1 million apprenticeships, and in the most recent Budget we provided more support for apprentices by extending grants to small and medium-sized companies to help them take on apprentices. We also introduced and expanded degree-level and post-degree-level apprenticeships. Apprenticeship schemes are one of this Government’s great successes, and we are going to build on it.

[Geraint Davies (Swansea West) (Lab/Co-op)]

Does the Chancellor accept that the growth he is talking about is fuelled by mortgages pushing up house prices and consumer debt? Lending from banks is now at the 2008 level for mortgages but down 30% to businesses, which is why productivity and real wages are down. When will he deliver sustainable growth rather than a bubble before an election?

[Mr Osborne]

The hon. Gentleman obviously has not looked at today’s GDP numbers, because they show that the sector that has grown most strongly is manufacturing.