Business of the House

Patricia Gibson Excerpts

Thursday 30th June 2022 Commons Chamber

[Mark Spencer]

Of course I join the hon. Lady in praising Debra and Poppy for their work to highlight this condition. In communities, it can almost be antisocial to have bonfires, given the impact on friends and neighbours. In pursuing this matter, the hon. Lady will draw that antisocial behaviour to the attention of many people across the House.

[Patricia Gibson (North Ayrshire and Arran) (SNP)]

The National Institute of Economic and Social Research, which is, incidentally, the oldest non-partisan economic research institute in the UK, recommended that the UK Government insure against rate rises in quantitative easing reserves by converting them into Government bonds with longer maturity. The Government did not take that advice, with the result that the UK has an enormous bill, as well as heavy and continuing exposure to interest rate risk. That has led to the squandering of £11 billion of taxpayers’ money—that is £2,000 for every man, woman and child in Scotland. Will the Leader of the House make a statement explaining the staggering level of UK Government incompetence and say who he believes should be held responsible?

[Mark Spencer]

The hon. Lady will be aware that Treasury questions happened this week. I am not sure whether she was in her place to ask the Chancellor about that directly. The Chancellor of the Exchequer is making sure that our economy is robust and fit for the future, so that we can continue to invest in our great public services. That is the way forward. We must continue to get more people into work to make sure that the economy is bouncing forward, so that we have the cash available to keep investing.