Economy: Growth

Lord Campbell-Savours Excerpts

Tuesday 11th October 2011 Lords Chamber

[Baroness Wilcox]

I am very interested to hear what my noble friend has said. We are looking at all sorts of ideas to start bringing us forward. As you say, Brian Souter would have said, “Get on your bus”, not, “Get on your bike”.

[Lord Campbell-Savours]

My Lords—

[Lord Barnett]

If the noble Baroness cared to have a word with her noble friend Lord Sassoon, who is sat next to her, he would explain that there is no chance whatever of her growth strategy working while the deficit reduction plan is so inflexible. As the noble Lord, Lord Low, has said so well, without growth we have a growing deficit. Please have a word with the noble Lord, Lord Sassoon. If he is being honest, he will tell the noble Baroness the truth.

--- Later in debate ---

[Lord Higgins]

My Lords—

[Lord Campbell-Savours]

My Lords, are there any lessons to be learnt from the early 1930s when public expenditure was cut?

[Baroness Wilcox]

We are making policies for now, looking forward. I am not sure, looking backwards, that there are too many lessons to be learnt from recent years.