Oral Answers to Questions

Jesse Norman Excerpts

Wednesday 26th January 2011 Commons Chamber

[The Prime Minister]

At the risk of building on what is clearly a blossoming friendship already, I will look carefully at what the hon. Lady says. On the issue of controlling loan sharks, one part should be encouraging credit unions. There is all-party support for that. Sometimes we have to be careful as we regulate that we do not drive out responsible operators and bring in loan sharks, so we must get the balance right. I will look carefully at what the hon. Lady is saying and perhaps get back to her.

[Jesse Norman (Hereford and South Herefordshire) (Con)]

Q13. Last week the Public Accounts Committee found that the previous Labour Government had pushed through private finance initiative deals without offering any alternative, and often regardless of expense or value for money. The result has cost the taxpayer billions of pounds too much. Does the Prime Minister share my view that there should now be a full investigation of why and how that happened?

[The Prime Minister]

I thank my hon. Friend for his question. The Public Accounts Committee can do a lot of that work by unveiling some of the appalling decisions that were made, which were just about off-balance-sheet accounting, rather than good value for money. I see the shadow Chancellor nodding, but he was in the Treasury when all that happened. As in so many cases, what we will find is that the mistakes that we now have to pay for are the responsibility of Gordon Brown’s two henchmen sitting on the Opposition Front Bench.