Proceeding contribution from Stephen Timms (Labour) in the House of Commons on Monday, 2 February 2009. It occurred during Opposition day on Government Capital Expenditure.

Government Capital Expenditure

I will gladly give way to the hon. Gentleman in a few moments, after I have made a little progress. At the same time as reducing our public debt, as we did, the fiscal framework has allowed us to protect public investment. The last Conservative Government allowed public investment to shrivel: it hit a low of 0.3 per cent. of GDP in 1988, and in 1996-97—the last year for which they were responsible—it was just 0.6 per cent. That abysmal record of underinvestment left a legacy of decaying public services and infrastructure that every Member of this House will remember all too clearly in their own area.

Secondary information

Type: Proceeding contribution
Reference: 487 c605
Session: 2008-09
Chamber / Committee: House of Commons chamber
Subjects: Banks Construction Capital investment Housing Finance Fiscal policy Economic situation International Monetary Fund Public expenditure Schools Economic recession
Link: View this Proceeding contribution on www.publications.parliament.uk

Government Capital Expenditure

Secondary information

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