John Stevenson
Main Page: John Stevenson (Conservative - Carlisle)Department Debates - View all John Stevenson's debates with the HM Treasury
(10 years, 10 months ago)
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Greg Clark
Like you, Mr Speaker, I take a great interest in the hon. Gentleman’s speeches in this House, and I know that he is deeply interested in fiscal policy. Since the beginning of the year, he has spoken 102 times on the subject of public spending cuts, but in each and every intervention he has opposed spending cuts. To cut the debt, we have to cut spending. He should learn that, and the Labour party should as well.
John Stevenson (Carlisle) (Con)
Does the Minister agree that one reason why our debt is such an issue is that the previous Government ran budget deficits in the good times as well as the bad and that the only way to reduce debt is to get the deficit down?
Greg Clark
My hon. Friend is absolutely right. We know that between 2001 and the time they left office, the previous Government trebled the national debt, yet when the shadow Chancellor was asked whether they were too profligate and had too much national debt, he said no. Labour’s new policy is the old policy: more spending, more borrowing, more debt. It is time they learned.