Oral Answers to Questions

Debate between Jeremy Hunt and Saqib Bhatti

Tuesday 5th September 2023 Commons Chamber

[Saqib Bhatti (Meriden) (Con)]

Andy Haldane, the former Bank of England chief economist, recently said in a Sky News interview that the Bank of England kept on printing money for longer than it needed to. It is clear that central banks across the world have been addicted to cheap money and that this has contributed to inflation across the world. Does the Chancellor agree that printing cheap and easy money has not been without consequence, and instead our monetary policy must focus on important growth factors such as productivity?

[Jeremy Hunt]

I agree with what my hon. Friend says. The Bank of England itself has said there were problems with its inflation forecasting. It is learning the lessons from that and we must support it every step of the way as it brings down inflation.

Oral Answers to Questions

Debate between Jeremy Hunt and Saqib Bhatti

Tuesday 21st March 2023 Commons Chamber

[Saqib Bhatti (Meriden) (Con)]

Thanks to the quick thinking and quick moves by the Chancellor, the Prime Minister and the Treasury, the tech sector was saved from almost certain oblivion, and at no cost to the taxpayer. Can my right hon. Friend confirm that he is still ambitious for the tech sector, and can he confirm that the merger with HSBC will ensure that our fantastic tech sector, especially our start-ups, will have access to the funding they need?

[Jeremy Hunt]

My hon. Friend is right. We have a very good solution to the Silicon Valley bank issue with the HSBC takeover. In the long run, we would like our brilliant tech superstar companies to have more choice about how they finance their expansion, and we will bring forward plans to make sure that happens.