Julian Knight
Main Page: Julian Knight (Independent - Solihull)Department Debates - View all Julian Knight's debates with the HM Treasury
(9 years, 6 months ago)
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Harriett Baldwin
The hon. Lady’s question started off very well by acknowledging the risks of high public debt. It is incredibly important for those people whom she rightly draws our attention to that we have a strong and healthy economy, and a strong and healthy financial sector is part of the solution. I am not sure, however, whether she is arguing that we should borrow more for longer by holding on to the shares for longer.
Julian Knight (Solihull) (Con)
Is my hon. Friend aware that just prior to the financial crash, the then Labour Government were running an underlying fiscal deficit equivalent to 6% of GDP—twice the level recommended for the EU? Is it not a bit rich, therefore, for Labour Members to dish out advice on both the management of the banks and government finances?
Harriett Baldwin
I welcome my hon. Friend to his place, and he is right that I am not prepared to take any lectures on bank regulation, fiscal responsibility or economic management from the Labour party.