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Proceeding contribution from Lord Hain (Labour) in the House of Commons on Wednesday, 30 March 2011. It occurred during Ministerial statement on The Budget.

The Budget

I thank the Chief Secretary for the advance copy of his statement and welcome him to the Welsh Grand Committee. Can he explain why, if Britain was in some sort of fiscal danger zone, so many City investors were prepared to lend so much to the Labour Government for so long at such low yields? It cannot have been lack of confidence in the future of public finances. Shortly before the Chief Secretary took over, in the first quarter of 2010, the market financed 87% of UK deficit at even lower yields than in the previous year, 2009. What sort of City investor lends £30 billion to a bankrupt borrower?

Secondary information

Type
Proceeding contribution
Reference
WGC c5 
Session
2010-12
Chamber / Committee
House of Commons Grand Committees
Subjects
Corporation tax Credit Income tax Excise duties Fuels Government assistance Economic policy Manufacturing industries Public expenditure Small businesses Wales Tax allowances Tax rates and bands Welsh Government Enterprise zones Budget March 2011
Link
View this Proceeding contribution on www.publications.parliament.uk