Jobs and Growth
Debate between Marcus Jones and David Anderson(12 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Marcus Jones (Nuneaton) (Con)
It is an absolute pleasure to follow the right hon. Member for Oldham West and Royton (Mr Meacher). I must admit that I did not really agree with much of what he said, but I did agree with his comment about low interest rates. It has not been acknowledged enough that, without low interest rates over the past four or five years, the economy would be in a far poorer state than it is today. In the light of that, we need to be careful. At the moment those low interest rates are a foundation on which we can build. I acknowledge that we are going through difficult times, but I am convinced that the Government must stick to their guns, use some gumption and keep making the tough decisions to reduce the deficit. It is good news that we have already reduced it by 25%, but we must keep showing the world that we are serious about getting on top of our debts, reducing the deficit and dealing with the mountain of debt left by Labour. I have listened to some Labour Members’ speeches today, and they still seem to think that we can borrow and spend our way out of recession. If it were that easy, we would be doing that—[Interruption.] We are not taking the easy route, and that is not for ideological reasons. It is because we want to protect those people with mortgages and business loans, and keep as many jobs as possible.
