Stephen Metcalfe
Main Page: Stephen Metcalfe (Conservative - South Basildon and East Thurrock)Department Debates - View all Stephen Metcalfe's debates with the HM Treasury
(11 years, 9 months ago)
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Mr Osborne
I do not comment on the level of sterling. The G7, which the UK chairs at the moment, issued a clear statement that we are not targeting an exchange rate and that the exchange rate flows from the economic policies that we pursue at home to improve our domestic economies.
Stephen Metcalfe (South Basildon and East Thurrock) (Con)
Does my right hon. Friend agree that for the Labour party to have any fiscal credibility it should just say sorry—sorry for the debt, sorry for the deficit, and sorry for the pain it has caused my constituents?
Mr Osborne
My hon. Friend puts the point powerfully and until we hear that apology from the shadow Chancellor, frankly he will not have the credibility to offer an alternative.