Debate on the Address

Debate between Kwasi Kwarteng and Eilidh Whiteford

Wednesday 27th May 2015 Commons Chamber

[Kwasi Kwarteng]

I found many things on the doorsteps in Spelthorne, where people spoke passionately about a range of matters. However, my hon. Friend is right. The issue of the deficit—the fact that, if we continue to build up debts, our children and grandchildren will have to pay them off, or at least service them by paying interest through taxation—was widely understood in my constituency, and I think that it contributed largely to the increased majority that I, along with many other colleagues, won in the election. It was remarkable to see Conservative majorities of, in some cases, 20,000 or 25,000, not only in the south-east but throughout the west country—where the Conservatives performed very well—and even in the midlands, where a number of incumbent Labour MPs lost their seats. I am sure that pollsters, historians, and other academics and experts will view that as an extraordinary result, and I think that it marks a shift in the political dynamics of the country. Of course, Scotland had its own result, which was remarkable by any standards.

[Dr Eilidh Whiteford (Banff and Buchan) (SNP)]

I may be rescuing the hon. Gentleman, but perhaps it is worth pointing out that the Conservative party had its worst result in Scotland for nearly 100 years. That was because we said, very simply, that we should not balance the books on the back of our most disadvantaged citizens, but should balance them over a slightly longer period, and in a way that would not put people at a disadvantage.

[Kwasi Kwarteng]

I think that we are balancing the books over a longer period. We have not run a balanced budget since 2001. There have been 15 years of deficits, and, in my view, that is too many. Anyone who has heard anything that I have said in the House about the economy will know that I am a balanced-budget Conservative, and I think that we should be balancing the books every year. When I was on the Transport Committee, we went to Switzerland, where we were told, “We have a simple rule: we just balance the budget every year.” That seems a sensible way of proceeding. We are balancing the books over a period of time. At some point, the books have to balance and one is not going to get that by running a deficit year after year, as the parties on the Opposition Benches prescribe.

I am very confident that the Chancellor and the governing team will be able to balance the books or get to some near balance, barring any wider economic upheavals. We should be able to do that in the course of this Parliament. That should be the principal aim of the Government. I am confident that we will achieve that goal.