Proceeding contribution from Harriett Baldwin (Conservative) in the House of Commons on Tuesday, 6 December 2011. It occurred during Debate on The Economy.
The Economy
How can I follow the wonderful, lilting oratory from the hon. Member for Islwyn (Chris Evans)? It is very difficult to turn round a supertanker. The supertanker that my right hon. Friend the Chancellor inherited was weighed down by the lead weight of having to pay out £120 million a day in interest and artificially inflated by a Government who were spending more than they were taking in, so that, in effect, £1 out of every £4 spent was borrowed. There was a very challenging situation when the Chancellor took the steering wheel of the supertanker, and we need a significant process of change to alter its direction towards one where we have a much healthier public sector financial position and where the private sector is able to continue its process of growth. [Interruption.]
Secondary information
- Type
- Proceeding contribution
- Reference
- 537 c258
- 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
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