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Oral question asked in the House of Lords, by Lord Naseby (Conservative). It was answered on Tuesday, 7 December 2010.


Bankruptcy

Question
Has my noble friend had a chance to read the statement from the shadow Chancellor in which he said that the problem for the Labour Party was that it had built up a reputation for 13 years of overspending and debt? Is that not near-bankruptcy?
Answer

I completely agree with my noble friend. That is indeed it. I was looking at the Oxford English Dictionary this morning and I saw that one definition of ““bankrupt”” is, "““one who has brought himself into debt by reckless expenditure or riotous living””." I would not presume to accuse the previous Government of riotous living.


Secondary information

Type
Oral question
Reference
723 c116 
Session
2010-12
Oral question type
Supplementary
Chamber / Committee
House of Lords chamber
Subjects
Borrowing Public sector Public finance
Link
View this Oral question on www.publications.parliament.uk