Proceeding contribution from Chris Leslie (Labour) in the House of Commons on Tuesday, 22 March 2011. It occurred during Debate on bill on Budget Responsibility and National Audit Bill [Lords].

Budget Responsibility and National Audit Bill [Lords]

My hon. Friend is entirely correct, and I am glad that the Bank of England is being flexible, but absolutely, if such mandates are set out rigidly in legislation, as the mandate is before us, and if they are interpreted as they currently are, it is hardly any wonder that the Treasury has a blinkered view of the economy and is obsessively—some might say, fetishistically—focused on deficit reduction and debt to the exclusion of almost any other facet of the economy. What we need right now is a flexible approach to economic policy which can take account of environmental and external facts, jobs and growth, and those are the issues we are raising today.

Secondary information

Type: Proceeding contribution
Reference: 525 c881
Session: 2010-12
Chamber / Committee: House of Commons chamber
Subjects: Disclosure of information Audit Budgets Fiscal policy Economic growth Powers Public expenditure National Audit Office Public finance Treasury Social policy Office for Budget Responsibility
Legislation: Budget Responsibility and National Audit Bill (HL) 2010-12
Link: View this Proceeding contribution on www.publications.parliament.uk

Budget Responsibility and National Audit Bill [Lords]

Secondary information

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