Kerry McCarthy
Main Page: Kerry McCarthy (Labour - Bristol East)Department Debates - View all Kerry McCarthy's debates with the HM Treasury
(11 years, 2 months ago)
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Mr Osborne
My hon. Friend is absolutely right. In Nelson, Barnoldswick and places he represents, there are successful small and medium-sized businesses, as well as large firms such as Rolls-Royce, which are exporting more. We are supporting them with lower business taxes and helping them with vital economic infrastructure. We have to go on supporting those businesses, as he does, because they are the backbone of this country, and they will provide the secure and stable economy that we need in the future.
Kerry McCarthy (Bristol East) (Lab)
The Chancellor talked about reviving dead bodies, and he may recall the Hollywood film about medical students trying to create near-death experiences. It was called “Flatliners”. Can the Chancellor predict when the UK will regain its triple A credit rating from Moody’s and say what needs to be done in the interim to make sure that we do so?
Mr Osborne
I will not make a prediction about that. [Interruption.] Moody’s is clear that we can win the rating back provided that over time we show our commitment to dealing with our debts and rebalancing our economy, and we will of course provide that commitment. Its market notice is clear that a reduced political commitment to fiscal consolidation—the policy advocated by the shadow Chancellor—would risk further downgrades.