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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

My hon. Friend is absolutely right, of course, and I can tell him that every G7 country apart from Canada has a higher level of net debt as a proportion of GDP than us, and that our level is therefore comparatively low and puts us in a very good position for taking the measures we now need to take. Under this Government, investment has grown by more than three times the 1997 level, to 2.1 per cent. of GDP this year. Next year, at 2.7 per cent. of GDP, public investment will be at a higher level than at any time in the last 30 years.

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