Proceeding contribution from John Hemming (Liberal Democrat) in the House of Commons on Monday, 22 November 2010. It occurred during Debate on bill on Savings Accounts and Health in Pregnancy Grant Bill.
Savings Accounts and Health in Pregnancy Grant Bill
The hon. Lady is entirely right. If we do not deal with the deficit, we face many other problems. We will end up paying a higher interest rate on sovereign debt. At the moment we are doing quite well, with an interest rate of about 3.5%. Before the bail-out, the Irish were being charged about 8% and the Greeks are being charged about 11%. When a country has a large deficit, if that country does not take action, not only does the amount of debt go up but so does the rate of interest.
Secondary information
- Type
- Proceeding contribution
- Reference
- 519 c65
- Session
- 2010-12
- Chamber / Committee
- House of Commons chamber
- Subjects
- Disability Children Children in care Child trust fund Eligibility Grants Individual savings accounts Pilot schemes Personal savings Low incomes Northern Ireland Poverty Pregnancy Scotland Wales Saving gateway
- Legislation
- Savings Accounts and Health in Pregnancy Grant Bill 2010-12
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- Timestamp
- 2023-12-15 13:45:04 +0000
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