Ruth George
Main Page: Ruth George (Labour - High Peak)Department Debates - View all Ruth George's debates with the HM Treasury
(6 years ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Hammond
Yes, and I remind my right hon. Friend that the fiscal targets are set in cyclically adjusted terms, so that in the event of an economic downturn, fiscal space is automatically created. In addition, I have kept a buffer, over and above any cyclical dividend, of £15.4 billion in 2020-21 to allow us firepower should any unexpected events cause headwinds for the economy.
Ruth George (High Peak) (Lab)
After the Budget, then, more than 3 million families will still be losing an average of £2,100 a year by transferring to universal credit. With 40% of claimants in debt and 38% in rent arrears, are not the Government simply transferring the nation’s debt into the pockets of the poorest families, and what assessment has the Chancellor made of their ability to move into work?
Mr Speaker
The hon. Lady should not have spoiled it. She was doing very well before she added a further bit that was not required.