Steve McCabe
Main Page: Steve McCabe (Labour - Birmingham, Selly Oak)Department Debates - View all Steve McCabe's debates with the HM Treasury
(11 years, 2 months ago)
Commons ChamberWe have introduced investment. We have increased investment in renewable energy, so that a record amount is now going in. My right hon. Friend the Chief Secretary to the Treasury will set out the strike prices this week, which will give long-term investors the certainty needed to increase renewable energy investment.
Why is the Chancellor not big enough to admit that he was wrong to claim that borrowing fell last year?
When I became Chancellor we were borrowing £157 billion a year. We are forecast to borrow £108 billion a year, which is a reduction in borrowing.