Economy: Government Policies

Lord Clinton-Davis Excerpts

Wednesday 7th December 2011 Lords Chamber

Asked By

[Lord Clinton-Davis]

To ask Her Majesty’s Government what is their response to the report of the Institute for Fiscal Studies on the Chancellor of the Exchequer’s latest economic measures.

[The Commercial Secretary to the Treasury (Lord Sassoon)]

My Lords, the Government took decisive action at the Autumn Statement to ensure sustainable public finances and to meet the fiscal targets set at Budget 2010.

[Lord Clinton-Davis]

The Institute for Fiscal Studies has referred to higher inflation, unprecedented cuts, the longest wage stagnation in history and plunging incomes. Is it not appropriate in the light of this respected organisation’s report that the Government should change their economic course, to avoid a major shipwreck before it is too late?