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Proceeding contribution from Lord Sassoon (Conservative) in the House of Lords on Wednesday, 20 October 2010. It occurred during Ministerial statement on Comprehensive Spending Review.

Comprehensive Spending Review

My Lords, I think that what the country has really been worried about is how the Government would deal with this horrendous deficit problem. What underpins the prospects for renewed, sustained growth is that we have reduced the deficit as a necessary precondition and that we have done so in such a way that the markets are convinced that we are serious about it. The latest official data show that GDP grew strongly, by 1.2 per cent, in the second quarter. It is the substantial accumulation and growth of government debt that risks that ongoing recovery and that is what we have dealt with.

Secondary information

Type
Proceeding contribution
Reference
721 c855 
Session
2010-12
Chamber / Committee
House of Lords chamber
Subjects
Child tax credit Child benefit Counter-terrorism Disadvantaged Defence BBC Age Banks Capital investment Development aid Civil list Housing benefit Government departments Equitable Life Assurance Society NHS Pensioners Northern Ireland Police Pre-school education Local government finance Workplace pensions Public sector Public expenditure Pupils Railways Redundancy Public finance Public sector debt Scotland Social security benefits Welfare tax credits State retirement pensions Working tax credit Schools Wales Social rented housing Roads Taxation Retirement Science Security of tenure S4C BBC World Service Cuts Employment and support allowance Presbyterian Mutual Society Bank levy Green Investment Bank BBC Monitoring Pupil premium
Link
View this Proceeding contribution on www.publications.parliament.uk