Suella Braverman
Main Page: Suella Braverman (Conservative - Fareham)Department Debates - View all Suella Braverman's debates with the HM Treasury
(8 years, 11 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
The IMF has existed since it was created out of the Bretton Woods conference and, by definition, it exists to support countries that are in very real financial distress. That is its business: lending to countries that are having real problems managing their debts. It is important to say again, however, that Britain and other members of the world community that support the IMF have never lost money in this way, because the IMF holds contingency reserves. It is also the preferred creditor. Frankly, I do not think that the prospect of us losing money through the IMF is that strong.
Suella Fernandes (Fareham) (Con)
Thankfully, the global stock markets proved resilient despite yesterday’s result. However, bank shares were among some of the biggest fallers, with Barclays down by 1.7%. What is my right hon. Friend’s advice to banks that fear that the crisis could increase losses from bad loans and drive up borrowing costs for Governments?