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Living Standards

Borrowing, borrowing, borrowing. More borrowing—isn't it wonderful? Interestingly, the Opposition were supposed to say that they would stick to the original Darling plan, but the measures just laid out involve borrowing way above that, because, as my right hon. Friend the Member for Wokingham has said, if we look at what the Opposition have opposed, out of all that that we have had to do, we find that the bill now stands at some £91 billion extra a year, or £326 billion for the next five years in which they might have been in government. These are all the spending cuts that the Opposition have opposed. The VAT position: opposed. Welfare savings: opposed. In-year spending cuts: opposed. Local government reform: opposed. Capital spending on education: opposed. Two-year public sector pay freeze: opposed. Cuts to capital investment allowances: opposed. Increasing public sector employee contributions: opposed. Ministry of Justice reform: opposed. Police reform: opposed. DEFRA reform: opposed. Cuts to the HMRC budget: opposed. That is not a policy; that is a joke.