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Proceeding contribution from Ed Balls (Labour) in the House of Commons on Tuesday, 6 December 2011. It occurred during Debate on The Economy.

The Economy

If the hon. Gentleman calms down and lets me answer his point he will be able to intervene again. I shall be happy to take another intervention. The fact is that when we went into the financial crisis our level of national debt was lower than that in America, France, Germany and Japan—and lower than that which we inherited from the Conservatives in 1997. I will give the House one good reason why: in 1999, when we raised £20 billion from the auction of the 3G mobile spectrum and they urged us to spend the money, we used the entire amount to repay the national debt.

Secondary information

Type
Proceeding contribution
Reference
537 c192 
Session
2010-12
Chamber / Committee
House of Commons chamber
Subjects
Children Disclosure of information Banks Women Finance Families Incentives Interest rates Economic situation Economic and monetary union Economic growth Inflation Forecasts Low incomes Pay Poverty Managers Mortgages Loans Regulation Unemployment Treasury Cuts Office for Budget Responsibility
Link
View this Proceeding contribution on www.publications.parliament.uk