Natascha Engel
Main Page: Natascha Engel (Labour - North East Derbyshire)Department Debates - View all Natascha Engel's debates with the HM Treasury
(11 years, 3 months ago)
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Mr Osborne
My hon. Friend is absolutely right. As I have said before, the Institute for Fiscal Studies says that the Labour plans would add £200 billion extra to borrowing. In the end, the clue is in how one answers the questions, and the shadow Chancellor was asked six times on the radio—many will have heard it—whether borrowing would go up under a Labour Government. He did not want to give a clear answer. Why is that? It is because Labour does not want to admit that borrowing would go up. Finally, on the seventh question, he was forced to admit it, but it is the policy that dare not speak its name.
Natascha Engel (North East Derbyshire) (Lab)
As well as the lack of growth in the economy, Moody’s also cited in its downgrading decision its concern about the implementation risks surrounding the current austerity plans. What is the Chancellor doing to address those?
Mr Osborne
That is the first sensible question we have heard from the Labour party all afternoon. I agree with the hon. Lady that we have to make sure that the decisions we take on reducing the size of Government are implemented. Collectively as a Parliament we have to reduce Government spending and we have to get the deficit down. I look forward to her support in the Division Lobby as we take further difficult decisions this year.