Oral Answers to Questions

Stephen Williams Excerpts

Tuesday 10th May 2011 Commons Chamber

[Mr Gauke]

I know that the hon. Gentleman is close to the former Prime Minister, but it really is disappointing that he is such a deficit denier. He even seems to suggest that the Greeks should not be doing anything about their deficit. If we do not have a credible plan, then the economy is at risk. We do have a credible plan.

[Stephen Williams (Bristol West) (LD)]

First, Mr Speaker, may I associate myself and my Liberal Democrat colleagues with your remarks about David Cairns at the start of Question Time?

On the deficit, the Government’s plans will reduce the fiscal deficit from last year’s figure of 9.6% to 7.9% this year, but that will still be roughly double the eurozone average and higher than the figures for Germany, France, Italy and Spain. Does the Minister agree that if we did not take this action to reduce the deficit, it would undermine international confidence in this country and our ability to borrow the funds that we still need to fund our programmes?

[Mr Gauke]

My hon. Friend is absolutely right. Even now, our deficit is higher than Portugal’s and it is perfectly clear that we on the Government side are united and determined to bring that deficit down.