Robert Courts
Main Page: Robert Courts (Conservative - Witney)Department Debates - View all Robert Courts's debates with the HM Treasury
(7 years ago)
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Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
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Robert Courts (Witney) (Con)
Will the Chief Secretary confirm that new Government 10-year gilts are paid at 1%, and will she confirm that if the markets lose confidence in our deficit reduction plan the interest rate is likely to rise, as is the cost to the country, which will mean less money for our public services?
Elizabeth Truss
My hon. Friend is right to draw attention to the macroeconomic picture, and to point out that if we do not have a confident deficit reduction plan such as the one that the Government have pursued for the last seven years, the financial markets will lose confidence, and the effect on working people will be a rise in interest rates, a rise in housing costs, and problems for the Government in respect of our borrowing.