Tony Baldry
Main Page: Tony Baldry (Conservative - Banbury)Department Debates - View all Tony Baldry's debates with the Cabinet Office
(12 years, 2 months ago)
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Sir Tony Baldry (Banbury) (Con)
Q15. Does my right hon. Friend agree that there was no structural deficit at the top of the boom, as claimed by the shadow Chancellor?
The Prime Minister
My hon. Friend makes an important point, which is this. The IMF report out this week shows that the structural deficit in 2007, at the height of the boom, was 5% of our GDP, or £73 billion. The shadow Chancellor said there was no structural deficit. I think this really demonstrates just how little Labour has learnt. We have talked about our plans for the British economy—how we are going to help it compete and succeed. We know Labour’s plans for this weekend: to go on a giant march with its trade union paymasters. That is how the Leader of the Opposition is going to be spending his weekend—on the most lucrative sponsored walk in history.