Sharon Hodgson
Main Page: Sharon Hodgson (Labour - Washington and Gateshead South)Department Debates - View all Sharon Hodgson's debates with the HM Treasury
(13 years ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
My hon. Friend is absolutely right. Let us look at the Italian bond auction this morning—that is the sort of interest rate we might have to pay if Britain’s ability to pay its way in the world lost credibility. Was it not surprising that the shadow Chancellor did not mention the fact that there are strikes tomorrow? It is because he is a wholly owned subsidiary of the Unite union.
Mrs Sharon Hodgson (Washington and Sunderland West) (Lab)
The giving with one hand and taking away with the other for child care is, frankly, playing with children’s lives and is disgraceful. By how much will the Chancellor increase the early intervention grant to pay for the child care pledge that he announced today? How much capital funding will he provide to local authorities so that they can expand and build nurseries? From what children’s pot will he rob that money?
Mr Osborne
We have introduced, for the first time, an entitlement for disadvantaged two-year-olds to get 15 hours of free nursery care. Such a policy was never introduced in the 13 years of a Labour Government. We have increased the figure to 40% of all children of that age and the cost is just shy of £500 million by the end of the period.