Oral Answers to Questions

Thérèse Coffey Excerpts

Tuesday 10th December 2013 Commons Chamber

[Danny Alexander]

We have made a commitment to one-for-one replacement. Housing starts, under the planning system, cannot be started instantly, which is surely a lesson that the hon. Gentleman should have learned during his many years in this House. The commitment is there and every one of those homes sold will be replaced by a newly built home.

[Dr Thérèse Coffey (Suffolk Coastal) (Con)]

10. What assessment he has made of the current level of the national deficit.

[The Exchequer Secretary to the Treasury (Mr David Gauke)]

Last week the Office for Budget Responsibility forecast public sector net borrowing on an underlying basis to be £111 billion, or 7.3 per cent. of GDP in 2013-14, down from 11 per cent. of GDP in 2009-10, the highest deficit in our peacetime history. By 2018-19 the OBR forecasts that the UK will be running a small surplus.

[Dr Coffey]

I thank my hon. Friend for that terrific answer. Does he agree that calls to abandon the Government’s long-term economic plan and to borrow and spend more would mean higher taxes and mortgage rates going up for hard-working families in Suffolk Coastal?

[Mr Gauke]

I thank my hon. Friend for her terrific question. Yes, I agree.