Business of the House Debate

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Department: Leader of the House

Business of the House

Stewart Hosie Excerpts
Thursday 28th October 2010

(14 years, 10 months ago)

Commons Chamber
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Stewart Hosie Portrait Stewart Hosie (Dundee East) (SNP)
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May we have an urgent statement on the decision to increase the interest rate on loans from the Public Works Loan Board by 1%? This will cost public bodies such as local authorities an extra £1.3 billion over the next four years and has the potential to do a huge amount of damage to financial planning, capital investment and jobs. May we have a statement from a Treasury Minister on that specific matter?

Lord Young of Cookham Portrait Sir George Young
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I understand the hon. Gentleman’s concern, but we must also consider the other side of the balance sheet—the revenue that comes in. We are shortly to debate the comprehensive spending review. I do not know whether he was planning to intervene, but I imagine that it would be appropriate to raise that matter in the debate and to press the Minister for an answer.