UK Economy Debate

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Department: HM Treasury
Monday 19th February 2024

(2 months, 3 weeks ago)

Commons Chamber
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Bim Afolami Portrait Bim Afolami
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It is—and I would add something else: the figures for home repossession were much higher when there was a recession under the Labour Government in 2008-09, in comparison with our record now, and unemployment now is much lower than it was then. Though we are in challenging times, the economy is turning a corner. Our record compares very favourably Labour’s.

Keir Mather Portrait Keir Mather (Selby and Ainsty) (Lab)
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The Chancellor said last May that he was comfortable with the prospect of a recession. Now that my constituents in Selby and Ainsty are suffering under that recession’s effects, would the Minister chalk it up as a job well done?

Bim Afolami Portrait Bim Afolami
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The hon. Gentleman will do well. There is nobody on the Government Benches who welcomes adverse economic situations for anybody. That is why we are doing everything we can—straining every sinew—to grow the economy. All the measures I have laid out will continue, but they would be put at risk by those on his Front Bench being in office.