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Proceeding contribution from Lord Darling of Roulanish (Labour) in the House of Commons on Tuesday, 8 June 2010. It occurred during Queen's speech debate on Economic Affairs and Work and Pensions.


Economic Affairs and Work and Pensions

I agree with my hon. Friend. The new Government will find that for every industrialist or manufacturer who says that public spending needs to be cut, in areas that benefit from such spending people take a rather different view. The car scrappage scheme is an example of that, and it made a huge difference to the car industry and the motor vehicle industry in general. As the hon. Member for North West Leicestershire (Andrew Bridgen) said, the action that we took did involve more borrowing and it does result in increasing debt. However, the point is that the cost of failing to act would have been far greater. The Chancellor was talking about the international consensus. I know something about that, and I can tell hon. Members that over the past three years it was very much in favour of our continuing to support our economies; of course, as we come through to recovery we have to get the borrowing down. Nobody disputes that, and at least two of the parties that fought the previous election were absolutely clear about it—it was never clear what the third party was in favour of, and its position remains something of a mystery even today.


Secondary information

Type
Proceeding contribution
Reference
511 c189 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
Poverty Children Cost effectiveness Bank services Banks Bank of England European Union Financial services Financial Services Authority Economic situation Economic growth Public expenditure Nationalisation Unemployment Regulation Economic recession Social security benefits Public sector debt Social security Reviews Cuts World economy Office for Budget Responsibility Living wage
Link
View this Proceeding contribution on www.publications.parliament.uk