James Clappison
Main Page: James Clappison (Conservative - Hertsmere)Department Debates - View all James Clappison's debates with the HM Treasury
(11 years, 9 months ago)
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Mr Osborne
Unless the hon. Gentleman can find anyone else to blame for the fact that there was an 11.5% budget deficit—[Interruption.] That was what we inherited from Labour, and we have cut it by a quarter. That just shows how economically illiterate Labour Back Benchers are.
Mr James Clappison (Hertsmere) (Con)
As matters stand today, the gilts market is flat, the stock market is going up, and the cost of Government borrowing stands at historically low levels. What does my right hon. Friend believe will be the impact on the cost of Government borrowing if they borrowed even more, if the deficit was going up rather than down, if the national debt was thereby being added to, and if we followed the kamikaze economics advocated by Opposition Front Benchers?