Proceeding contribution from David Gauke (Conservative) in the House of Commons on Monday, 2 February 2009. It occurred during Opposition day on Government Capital Expenditure.
Government Capital Expenditure
The US has a reserve currency; it does not have the same risk of a run on its currency as the UK does. The important distinction is that its automatic stabilisers are much smaller than the UK's. A lot of the fiscal stimulus that is going to occur in the UK would happen automatically, and the same does not happen to the same extent in the US. At the point where our respective economies entered into recession, the US was borrowing less than we were.
Secondary information
- Type
- Proceeding contribution
- Reference
- 487 c616
- 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
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- 2024-04-21 09:31:23 +0100
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- http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_525196
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