Lucy Frazer
Main Page: Lucy Frazer (Conservative - South East Cambridgeshire)Department Debates - View all Lucy Frazer's debates with the HM Treasury
(7 years, 4 months ago)
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Elizabeth Truss
I understand that the hon. Gentleman’s party voted to support our pay policy earlier this year.
Lucy Frazer (South East Cambridgeshire) (Con)
The Institute for Fiscal Studies estimated that Labour’s proposal would cost £9 billion a year, which is more than double the amount the party estimated in its manifesto. That would involve significant borrowing. Our interest bill is £50 billion a year. Does the Chief Secretary to the Treasury agree that that is £50 billion less to invest in our public services?
Elizabeth Truss
That is right. Future generations will pay for the services that we are enjoying today, and that is wrong. We need to live within our means and make sure that people are properly rewarded. We need to make sure that things are fair between the public and private sectors. That is what the Government’s balanced policy is achieving.