Lord Hamilton of Epsom
Main Page: Lord Hamilton of Epsom (Conservative - Life peer)Department Debates - View all Lord Hamilton of Epsom's debates with the HM Treasury
(13 years, 9 months ago)
Lords ChamberDoes my noble friend accept that, if we are to see a revival in the economy, it is going to come from the private sector and from low interest rates, and that those interest rates would be very much higher if this Government were not addressing the appalling structural deficit that we inherited from the previous Government?
I completely agree and am grateful to my noble friend for drawing our attention to that. Indeed, only 10 days ago, after the spending review, Standard and Poor’s, one of the leading rating agencies, moved our rating from negative to stable. It is that confidence that keeps interest rates low and enables businesses to invest.