Oral question asked in the House of Lords, by Earl Attlee (Conservative). It was answered on Thursday, 8 April 2010.

Government Borrowing

Question: My noble friend’s Question was about borrowing per capita. The Minister gave us some interesting statistics; will he now answer my noble friend’s Question?

Answer: The Financial Services Bill, which we will look at later this morning, includes an important provision to create a new responsibility for the FSA to foster education about financial matters. I can see that many Members on the opposition Benches will be signing up. We need to look at borrowing in the context of the use made of it. I remind noble Lords that the borrowing that we have incurred over the past 12 months has been to build schools, hospitals and roads, to support infrastructure and continuing employment in a global recession.

Secondary information