Proceeding contribution from Geraint Davies (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
On the figures, the Chancellor will remember that in February last year the unemployment rate was 2.5 million. Independent forecasters and economists were predicting that unemployment would now be between 3.5 million and 4 million. Does he accept that we do not have those levels of unemployment because of the fiscal stimulus from the previous Government? Furthermore, he will know that the cost of an extra 1 million unemployed is £6 billion, which would wipe out the savings that have just been announced. Will he therefore be extremely careful not to make cuts that will undermine the economic capacity for growth in future?
Secondary information
- Type
- Proceeding contribution
- Reference
- 511 c200
- 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
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- Timestamp
- 2026-02-05 18:40:30 +0000
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- http://data.parliament.uk/pimsdata/hansard/CONTRIBUTION_644041
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