Lord Watts
Main Page: Lord Watts (Labour - Life peer)Department Debates - View all Lord Watts's debates with the HM Treasury
(11 years, 2 months ago)
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Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
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Mr Osborne
My hon. Friend is absolutely right. If we lose that credibility in the markets and are unable to convince the world that we can pay our way—that would be the case if we had a reduced commitment to fiscal consolidation—interest rates would go up, which would affect families with mortgages and small businesses with those crucial loans that are helping them to expand and take people on.
Mr Dave Watts (St Helens North) (Lab)
Will the Chancellor change the economic medicine before he kills the patient?
Mr Osborne
We have revived the patient from the near-death experience it had under the Labour Government.