Mark Spencer
Main Page: Mark Spencer (Conservative - Sherwood)Department Debates - View all Mark Spencer's debates with the HM Treasury
(12 years, 8 months ago)
Commons ChamberFirst, I am happy and keen to work with the devolved Administration in Belfast on how the scheme will apply in Northern Ireland, given the specific issues that Northern Ireland faces with the involvement of the southern Irish banks. It is certainly a UK-wide scheme and we are particularly aware of the acute problems that the financial crisis south of the border have caused in Northern Ireland.
Today, we have seen a clear difference between a Chancellor who wants to manage and invest in our economy and an Opposition who spent and taxed their way through boom into bust. Will my right hon. Friend assure the House, for the sake of every home owner and small and medium-sized business with a mortgage, overdraft or long-term loan, that he will follow a fiscal policy that delivers low interest rates for the long-term future?
I absolutely will. We have had a startling admission by the shadow Chancellor that he wants interest rates to be higher in Britain at the moment. That would be a terrible thing for our economy, but I will give him this: his policies would certainly lead to higher interest rates in Britain.