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Emergency debate on Wednesday, 26 November 2008, in the House of Commons, led by George Osborne. The answering member was Lord Darling of Roulanish.

Pre-Budget Report

Motion that this House has considered the matter of the Pre-Budget Report (Cm 7484). Emergency debate following a Standing Order No. 24 application. Motion that the Question be now put. Negatived on division (67 to 422). Original motion lapsed.

Secondary information

Type
Parliamentary proceeding
Reference
483 c740-97 
Session
2007-08
Department
Treasury
Chamber / Committee
House of Commons chamber
Related items
Pre-Budget Report
Tuesday, 25 November 2008
Parliamentary proceedings
House of Commons
Proceeding contributions
Speaker | 483 c765 (Link to this contribution) Order. Before I call the next speaker, may I remind the House that Mr. Speaker has placed a 10-minut...
Paul Burstow | 483 c793 (Link to this contribution) rose in his place and claimed to move, That the Question be now put. Question put, That the Questio...
Show all contributions (246)
Lord Hammond of Runnymede | 483 c788 (Link to this contribution) I am sorry; I am getting ahead of myself. Thanks to the Government's profligacy, the full faith and...
Lord Hammond of Runnymede | 483 c788 (Link to this contribution) Puzzled and confused seems to be the Liberal Democrat position on many things. There are many other ...
Chris Huhne | 483 c788 (Link to this contribution) I am puzzled by one thing the hon. Gentleman said, given the powerful case that he is making about t...
Lord Hammond of Runnymede | 483 c788-9 (Link to this contribution) I am sorry, but I have not got time. The Chancellor tells us that he considers all options before a...
Rob Marris | 483 c788 (Link to this contribution) Will the hon. Gentleman give way?
Lord Hammond of Runnymede | 483 c789-90 (Link to this contribution) I will tell you. They say that we will do nothing. They are wrong, and they know that they are wrong...
Lord Spellar | 483 c789 (Link to this contribution) What does the hon. Gentleman say?
Lord Hammond of Runnymede | 483 c787-8 (Link to this contribution) Through you, Madam Deputy Speaker, I thank Mr. Speaker once again for asserting the right of Parliam...
Andrew Miller | 483 c787 (Link to this contribution) No, I will not give way. Does the hon. Member for Tatton think that the recession is good for the h...
Speaker | 483 c791 (Link to this contribution) Order. It is entirely up to the Chief Secretary to decide whether she wants to give way.
Yvette Cooper | 483 c791 (Link to this contribution) We believe that now is an important time to use fiscal policy, as do other countries. In Europe, whe...
Yvette Cooper | 483 c791 (Link to this contribution) I want to respond to comments made in the debate. We had a detailed discussion about the importance...
Yvette Cooper | 483 c792 (Link to this contribution) The right hon. and learned Gentleman is talking nonsense. As the Chancellor said, we looked at a ran...
Lord Clarke of Nottingham | 483 c791-2 (Link to this contribution) My understanding of the background to the PBR on this point is that the Treasury wanted to put in cr...
Yvette Cooper | 483 c791 (Link to this contribution) The IMF said:"““If there has ever been a time in modern economic history when fiscal policy and a fi...
Yvette Cooper | 483 c791 (Link to this contribution) We have set out the forecasts. We are increasing debt and increasing borrowing, because that is the ...
Charles Walker | 483 c790 (Link to this contribution) It is estimated that by the time we reach the end of this recession, this country's national debt wi...
Yvette Cooper | 483 c790 (Link to this contribution) We have had a thoughtful debate, once we got past the early bombast from the hon. Member for Tatton ...
George Osborne | 483 c757 (Link to this contribution) I am grateful to the Chancellor for giving way. He was talking about trying to get the banks to do m...
Sandra Gidley | 483 c757 (Link to this contribution) The Chancellor mentioned businesses. Will he note that our French neighbours have injected €19 billi...
Lord Darling of Roulanish | 483 c757 (Link to this contribution) As the House will know, part of our business plan for Northern Rock—which, of course, had to be appr...
Baroness McIntosh of Pickering | 483 c757 (Link to this contribution) In the pre-Budget report, the Chancellor referred to increasing fuel duty on petrol and increasing n...
Lord Darling of Roulanish | 483 c757 (Link to this contribution) I will say to the hon. Lady that Europe is very important. I think it right for me to say a word ab...
Vincent Cable | 483 c758 (Link to this contribution) I welcome the debate, and congratulate the Conservative shadow Chancellor, the hon. Member for Tatto...
Lord Darling of Roulanish | 483 c758 (Link to this contribution) The most damaging thing that we could do to rural areas would be to allow a situation to develop in ...
Lord Benyon | 483 c758 (Link to this contribution) The hon. Gentleman will notice that page 200 of the pre-Budget Report contains a line that sounds fa...
Dari Taylor | 483 c759 (Link to this contribution) Will the hon. Gentleman give way?
Vincent Cable | 483 c759 (Link to this contribution) I think that the emphasis is on helping low-income families—and I welcomed the right hon. Gentleman'...
Michael Jabez Foster | 483 c760 (Link to this contribution) Is the hon. Gentleman therefore saying that public sector pensions are unaffordable and that he woul...
Vincent Cable | 483 c760 (Link to this contribution) Of course it is. However, I want to move on from ascribing blame to establishing how we should deal ...
Dari Taylor | 483 c760 (Link to this contribution) Is the hon. Gentleman saying, as many economists and serious commentators in the press are saying, t...
Vincent Cable | 483 c759-60 (Link to this contribution) I must make some progress first. Before we discuss the issues in detail, I want to refer to the ter...
Lord Redwood | 483 c761 (Link to this contribution) On fiscal judgment, if the fiscal deficit were as low as the Government and the hon. Gentleman sugge...
Vincent Cable | 483 c761 (Link to this contribution) I will come to that later, but according to the IFS the new top rate of tax will yield zero revenue....
Gordon Prentice | 483 c761 (Link to this contribution) Does not the new top rate of tax cover the commitment entirely?
Vincent Cable | 483 c760 (Link to this contribution) In terms of contributions and commitments, the costs are simply unsustainable on the current basis. ...
Vincent Cable | 483 c761 (Link to this contribution) Let me take that last phrase; is it therefore too risky to embark upon a fiscal stimulus? That is th...
Vincent Cable | 483 c761-2 (Link to this contribution) Of course, the former Chancellor, whose views are always respected here, is making the correct point...
Lord Clarke of Nottingham | 483 c761 (Link to this contribution) Surely the hon. Gentleman is not asserting that there is no risk in borrowing on this scale against ...
Vincent Cable | 483 c763 (Link to this contribution) I am now beginning to understand why Conservative Members are so scared of the issue, but it has to ...
Oliver Heald | 483 c762 (Link to this contribution) Can I take the hon. Gentleman back to the issue of pension costs? It is true that pension costs in t...
Lord Bruce of Bennachie | 483 c763 (Link to this contribution) Is my hon. Friend getting the same reports that I am getting from the construction industry? It expe...
Vincent Cable | 483 c762 (Link to this contribution) I am not throwing caution to the wind. Indeed, our proposals for tax cuts for the lower paid were fu...
Graham Stuart | 483 c762 (Link to this contribution) What we have from the Chancellor is a proposal to spend more than the total cost of funding the seco...
Vincent Cable | 483 c762 (Link to this contribution) Can I just press on? In that sense, our proposals underline what the Conservative party has acknowl...
Lord Lilley | 483 c762 (Link to this contribution) Will the hon. Gentleman give way?
Julia Goldsworthy | 483 c764 (Link to this contribution) My hon. Friend is making a clear case to show that, at the top end of the scale, those on high incom...
David Leslie Taylor | 483 c763-4 (Link to this contribution) The hon. Gentleman is making an excellent speech. Does he agree that the IFS has got it wrong when i...
Vincent Cable | 483 c763 (Link to this contribution) If the Government were really serious about VAT reform, they would be considering the VAT on home im...
Vincent Cable | 483 c765 (Link to this contribution) In that case, I apologise for getting it wrong. I hope that the Government will do what they did wit...
Lord Darling of Roulanish | 483 c765 (Link to this contribution) I am listening with great interest to what the hon. Gentleman has to say, but he is wrong on this po...
Vincent Cable | 483 c764 (Link to this contribution) I wish to make progress and deal with the bigger question, in quantitative terms, about what is happ...
Vincent Cable | 483 c764 (Link to this contribution) Absolutely. I am hoping that the right hon. Member for Birkenhead (Mr. Field) will have an opportuni...
Paul Farrelly | 483 c768 (Link to this contribution) I appreciate my right hon. Friend's points on monetary policy, particularly if those people who have...
Ruth Kelly | 483 c768-9 (Link to this contribution) I completely agree that we need to ensure that what we say in public is translated in practice into ...
Lord Clarke of Nottingham | 483 c769 (Link to this contribution) I am afraid that in this country we are probably facing the longest and deepest recession of my life...
Lord Clarke of Nottingham | 483 c769-70 (Link to this contribution) Yes, I do. The scale of the debt should dominate the debate, because it is the main substance of the...
Ruth Kelly | 483 c765-6 (Link to this contribution) It is a pleasure to address the House this afternoon, and I for one welcome the opportunity to debat...
Andrew Pelling | 483 c766 (Link to this contribution) The right hon. Lady recognises the robust way in which the Government have acted, but surely it is n...
Ruth Kelly | 483 c766-8 (Link to this contribution) I intend to discuss how to try to get banks lending to each other again in due course. Creating a ““...
Geoffrey Robinson | 483 c768 (Link to this contribution) On the question of receipts that probably will not come back—they certainly will not do so in the ne...
Ruth Kelly | 483 c768 (Link to this contribution) It does. As my hon. Friend knows, that would mean that whatever the Government decided to do as a fi...
Lord Clarke of Nottingham | 483 c771 (Link to this contribution) Well, I tackled the hon. Gentleman on his tax proposals, and they were redistributive tax proposals ...
Lord Clarke of Nottingham | 483 c771 (Link to this contribution) I cannot give way because I have a time limit and other Members want to speak; I apologise. Of cour...
Lord Clarke of Nottingham | 483 c770 (Link to this contribution) I give way, for the last time, to my hon. Friend.
Chris Huhne | 483 c770 (Link to this contribution) Will the right hon. and learned Gentleman give way?
Lord Clarke of Nottingham | 483 c770-1 (Link to this contribution) No, I cannot, because I have a time limit; I am sorry. Fiscal stimulus was not used on either of th...
Peter Tapsell | 483 c770 (Link to this contribution) As someone who berated the 1981 Budget well before the 364 signatories to the famous letter, I said ...
Lord Clarke of Nottingham | 483 c770 (Link to this contribution) My hon. Friend was the most distinguished of those very strong critics in 1981. I did not agree with...
William Cash | 483 c774 (Link to this contribution) The hon. Gentleman talks about new investment, but that money has to be found. As my right hon. and ...
Geoffrey Robinson | 483 c774 (Link to this contribution) I think that I shall content myself with the answer that the Chancellor gave to the hon. Gentleman. ...
Jim Cunningham | 483 c775 (Link to this contribution) I am sure that my hon. Friend recalls that he and I went through the 1970s and, particularly, the 19...
William Cash | 483 c773 (Link to this contribution) Will the hon. Gentleman give way?
Geoffrey Robinson | 483 c773 (Link to this contribution) I shall give way in a short while. Let me just finish this point.
Lord Field of Birkenhead | 483 c773 (Link to this contribution) Is not it a fact that Labour Members and some Opposition Members feel that the Government should mak...
Geoffrey Robinson | 483 c773-4 (Link to this contribution) I am grateful to my right hon. Friend for his comments. He will recall that I opposed the move when ...
Vincent Cable | 483 c771-2 (Link to this contribution) Let me correct the right hon. and learned Gentleman; perhaps I was not clear enough in my speech. Fi...
Lord Clarke of Nottingham | 483 c772 (Link to this contribution) I would like to hear how much extra public investment the hon. Gentleman is talking about. Some of t...
Geoffrey Robinson | 483 c773 (Link to this contribution) It is a pleasure to follow the former Chancellor, the right hon. and learned Member for Rushcliffe (...
Lord Lilley | 483 c776 (Link to this contribution) I see that the previous speaker agrees with me. Is there any Member in the House who would support ...
Simon Hughes | 483 c776 (Link to this contribution) Will the right hon. Gentleman give way?
Lord Lilley | 483 c776 (Link to this contribution) Only if the hon. Gentleman is going to do that. Is he going to justify not having a debate?
Lord Lilley | 483 c776-7 (Link to this contribution) Then I will not give way. Given the inadequate time allocated for this debate, I shall make just a ...
Geoffrey Robinson | 483 c775 (Link to this contribution) I could not agree more with my hon. Friend, who is a fellow Coventry Member. I think that he was in ...
Geoffrey Robinson | 483 c775-6 (Link to this contribution) No, I have given way many times. I am sure that the hon. Gentleman agrees that it would not be fair ...
Graham Stuart | 483 c775 (Link to this contribution) Will the hon. Gentleman give way?
Nigel Griffiths | 483 c781 (Link to this contribution) Manufacturing output has of course increased dramatically in the past decade, as we have gone from b...
Stewart Hosie | 483 c781 (Link to this contribution) The hon. Gentleman makes a point about the growth in our service economy and in our exports of servi...
Lord Clarke of Nottingham | 483 c780 (Link to this contribution) My view is that nothing happened in America that did not happen here, and that nothing happened here...
Nigel Griffiths | 483 c780-1 (Link to this contribution) And nor do I believe that the right hon. and learned Gentleman can compare in any way the scale of w...
Nigel Griffiths | 483 c779-80 (Link to this contribution) The right hon. and learned Member for Rushcliffe (Mr. Clarke) was right to identify a prime source o...
Nigel Griffiths | 483 c780 (Link to this contribution) Well, he is shaking his head, but he does not seem to want me to give way. His Front-Bench team beli...
Lord Lilley | 483 c779 (Link to this contribution) The hon. Gentleman has just made one silly party political intervention: he does not get a chance to...
Chris Huhne | 483 c779 (Link to this contribution) Will the right hon. Gentleman give way on that point?
Chris Huhne | 483 c778-9 (Link to this contribution) The numbers suggest that the debt position is not as alarming as the right hon. Gentleman says. The ...
Nick Palmer | 483 c778 (Link to this contribution) Does the right hon. Gentleman accept that a 5 per cent. cut, to 12.5 per cent., would require consul...
Lord Lilley | 483 c778 (Link to this contribution) The hon. Gentleman is right: we are forbidden, under the present laws, to reduce VAT to under 15 per...
Chris Huhne | 483 c777 (Link to this contribution) Will the right hon. Gentleman give way?
Lord Lilley | 483 c777 (Link to this contribution) I should like to make some progress, if I may. The second issue that I want to address is the Gover...
David Drew | 483 c777 (Link to this contribution) I am interested to hear what the right hon. Gentleman is saying about public spending. I do not know...
Lord Lilley | 483 c777 (Link to this contribution) Almost all my constituents who discuss this issue with me tell me clearly that the Government have b...
Philip Dunne | 483 c783 (Link to this contribution) Further to the point made by my right hon. Friend the Member for Wokingham (Mr. Redwood), there has ...
Michael Jack | 483 c783-4 (Link to this contribution) My right hon. Friend the Member for Wokingham (Mr. Redwood) and my hon. Friend the Member for Ludlow...
Michael Jack | 483 c784-5 (Link to this contribution) I will not give way, as I have already done so three times. The cut in VAT is but a temporary stimu...
Andrew Miller | 483 c785-6 (Link to this contribution) I will be brief, because the winding-up speeches are due to start at six minutes past 4. Following ...
Robert Smith | 483 c786 (Link to this contribution) Will the hon. Gentleman give way?
Andrew Miller | 483 c786-7 (Link to this contribution) No, because I have to sit down at six minutes past. My right hon. Friend the Chancellor was quite r...
Lord Redwood | 483 c783 (Link to this contribution) One problem is that the Government themselves do not even follow transparency. In the pre-Budget rep...
Michael Jack | 483 c782-3 (Link to this contribution) My hon. Friend makes a point that I missed out in my peroration. I totally agree with him. I wanted ...
Oliver Heald | 483 c782 (Link to this contribution) I do not know whether my right hon. Friend agrees, but I am sure that the speech that the hon. Membe...
Graham Stuart | 483 c781 (Link to this contribution) I am extremely grateful, but will he explain to the House what share of Government expenditure will ...
Graham Stuart | 483 c781 (Link to this contribution) Will the hon. Gentleman give way on that point?
Nigel Griffiths | 483 c782 (Link to this contribution) No, I am not giving way again. No one is in any doubt about the scale of the economic problems. Just...
Michael Jack | 483 c782 (Link to this contribution) If there was a prize for political irrelevance, the speech of the hon. Member for Edinburgh, South (...
Nigel Griffiths | 483 c781 (Link to this contribution) That has obviously been made clear in the account: we had the statement and we are having this debat...
Andrew Pelling | 483 c782 (Link to this contribution) Will the hon. Gentleman give way?
Graham Stuart | 483 c749 (Link to this contribution) On a point of order, Mr. Speaker. The Chancellor has just suggested that we have an opportunity to v...
Speaker | 483 c749 (Link to this contribution) It is a matter for debate. The hon. Gentleman should listen to the Chancellor and see what he can pi...
Lord Darling of Roulanish | 483 c749 (Link to this contribution) I was about to say, Mr. Speaker, that I normally like to give way to Members as generously as possib...
Lord Darling of Roulanish | 483 c749 (Link to this contribution) I am sorry that Opposition Members seem more intent on disrupting what I have got to say than taking...
Lord Darling of Roulanish | 483 c749-50 (Link to this contribution) I will give way to hon. Members on both sides of the House, but, first, I should like to address the...
George Osborne | 483 c750 (Link to this contribution) The Chancellor has explained how the document ended up on the website. What we want to know is how i...
Lord Darling of Roulanish | 483 c750 (Link to this contribution) The shadow Chancellor asked me for an explanation as to why the Financial Secretary signed it, and I...
Lord Darling of Roulanish | 483 c751 (Link to this contribution) Before I give way, let me plant something in the shadow Chancellor's mind, as he referred to the Ins...
Bob Spink | 483 c751 (Link to this contribution) I am grateful to the Chancellor for giving way. My constituents will be pleased to hear what he has ...
Lord Darling of Roulanish | 483 c751 (Link to this contribution) In a moment. The Conservative party is now virtually isolated in its belief that Government should ...
Robert Smith | 483 c750 (Link to this contribution) But surely creating a bureaucratic nightmare for many small businesses through the VAT reduction doe...
Jim Devine | 483 c751 (Link to this contribution) I am grateful to my right hon. Friend for giving way. Is not the difference between our party and th...
Lord Darling of Roulanish | 483 c751 (Link to this contribution) I give way to my hon. Friend the Member for Livingston (Mr. Devine).
George Osborne | 483 c745 (Link to this contribution) My hon. Friend is absolutely right. The Government have borrowed and borrowed on the national credit...
George Osborne | 483 c745-6 (Link to this contribution) I am going to make some progress—[Interruption.] I have taken a lot of interventions; we shall see w...
Speaker | 483 c746 (Link to this contribution) Order. The hon. Gentleman is not giving way.
George Osborne | 483 c746 (Link to this contribution) We heard the exchanges at Prime Minister's questions; perhaps the Chancellor could answer what the P...
George Osborne | 483 c746 (Link to this contribution) The right hon. Gentleman shakes his head, but his name is on the document:"““Signed by the responsib...
George Osborne | 483 c746 (Link to this contribution) I give way to my hon. Friend the Member for Ludlow (Mr. Dunne).
Philip Dunne | 483 c746 (Link to this contribution) On the subject of the so-called VAT reduction, is my hon. Friend aware that, far from reducing the V...
George Osborne | 483 c747 (Link to this contribution) I will make a little progress, if my hon. Friend will allow me. The Government tried to distract at...
George Osborne | 483 c747 (Link to this contribution) My hon. Friend makes an extremely powerful point.
George Osborne | 483 c747 (Link to this contribution) I will make more progress, because many Members want to speak. Unfortunately, we have only three hou...
Lord Darling of Roulanish | 483 c748 (Link to this contribution) I very much welcome the opportunity to debate the pre-Budget report, and having listened to the shad...
George Osborne | 483 c748 (Link to this contribution) I am not giving way at the moment. The Government should establish a new state institution that wil...
Speaker | 483 c748 (Link to this contribution) This is a three-hour debate—end of story.
George Osborne | 483 c743 (Link to this contribution) I shall make some progress and then give way to the hon. Member for Wolverhampton, South-West (Rob M...
George Osborne | 483 c743 (Link to this contribution) For once, the Prime Minister was right. He told the Labour party conference that in his first speech...
George Osborne | 483 c743-4 (Link to this contribution) The hon. Gentleman more than makes up for it by being too voluble at Prime Minister's Question Time....
Chris Ruane | 483 c743 (Link to this contribution) What about me? Just 'cos I'm not rich!
Hugh Bayley | 483 c742 (Link to this contribution) The hon. Gentleman seems to have forgotten that the national debt doubled when John Major was in pow...
Lord Soames of Fletching | 483 c743 (Link to this contribution) Does my hon. Friend agree that when the Prime Minister was still walking out with prudence, he was r...
George Osborne | 483 c742-3 (Link to this contribution) I am glad that I took that intervention, because it enables me to say that the budget deficit next y...
Oliver Heald | 483 c745 (Link to this contribution) Does my hon. Friend agree that the great British public are thinking that the Government have maxed ...
Lord Blunkett | 483 c744-5 (Link to this contribution) I am grateful to the hon. Gentleman. In view of what he has just said about the fiscal rules and bor...
George Osborne | 483 c744 (Link to this contribution) Thank you very much, Mr. Speaker. Let me turn to the fiscal rules, which were supposed to safeguard...
Speaker | 483 c744 (Link to this contribution) Order. May I appeal for calm? It is not a good thing, shouting across the Chamber at the top of our ...
George Osborne | 483 c744 (Link to this contribution) It is going to be the next Conservative Government who sort out the economic mess. Now—[Interruption...
Rob Marris | 483 c744 (Link to this contribution) I am grateful. As the hon. Gentleman knows, I always relish a good debate about finance matters. His...
George Osborne | 483 c744 (Link to this contribution) I shall give way to the hon. Member for Wolverhampton, South-West (Rob Marris).
George Osborne | 483 c741 (Link to this contribution) My hon. Friend is absolutely right. The details are here in the Treasury document that this Governme...
George Osborne | 483 c740 (Link to this contribution) I will give way in a second, but it is not as though Labour Members wanted the debate in the first p...
Albert Owen | 483 c740 (Link to this contribution) Will the hon. Gentleman give way?
George Osborne | 483 c741 (Link to this contribution) The hon. Gentleman should have paid attention on Monday, because the Chancellor—[Hon. Members: ““Ans...
Albert Owen | 483 c741 (Link to this contribution) The shadow Chancellor has mentioned value added tax and fuel duty on a number of occasions. Is it st...
George Osborne | 483 c741 (Link to this contribution) I think that that question was mainly directed at the Chancellor, but let us just say that the U-tur...
Angus Robertson | 483 c741 (Link to this contribution) Only two days ago, the UK Labour Government made a proposal that would have amounted to the biggest ...
Charles Walker | 483 c741 (Link to this contribution) Does my hon. Friend not agree that Labour's plans to increase VAT to 18.5 per cent.—or perhaps even ...
George Osborne | 483 c741 (Link to this contribution) I give to my hon. Friend the Member for Broxbourne (Mr. Walker).
George Osborne | 483 c742 (Link to this contribution) My hon. Friend is absolutely right. A £100 billion black hole has been created by fiddling the growt...
George Osborne | 483 c742 (Link to this contribution) It has totally destroyed the public's trust in the Government's motives, confirming what everyone su...
Speaker | 483 c742 (Link to this contribution) Order. It is the hon. Gentleman's privilege to give way to who he wants to give way to. [Interruptio...
Speaker | 483 c741 (Link to this contribution) Order. The hon. Gentleman is not going to give way.
Lord Darling of Roulanish | 483 c752-3 (Link to this contribution) I will give way in a moment, but I am going to mention Europe, which I know distresses a lot of Oppo...
Lord Darling of Roulanish | 483 c752 (Link to this contribution) I will return to that point shortly, but may I just say that I believe that the steps that we took t...
Lord Redwood | 483 c751 (Link to this contribution) I am grateful to the Chancellor. Given that the banking package has so far unfortunately not succeed...
Lord Darling of Roulanish | 483 c751 (Link to this contribution) My hon. Friend represents an area that was devastated in the 1980s and 1990s, when the mining and st...
Lord Darling of Roulanish | 483 c752 (Link to this contribution) I will give way shortly, but I want to make some progress. On Monday afternoon, the shadow Chancell...
Lord Darling of Roulanish | 483 c752 (Link to this contribution) We on the Labour Benches are quite clear: people elect their Governments to ensure that they help th...
Chris Ruane | 483 c752 (Link to this contribution) At last! Which dictum does the Chancellor feel is most relevant to the current slowdown: the old dic...
Lord Darling of Roulanish | 483 c756 (Link to this contribution) I agree with what my hon. Friend says and I very much hope that British firms will benefit not just ...
Nick Palmer | 483 c756 (Link to this contribution) I was elected as a new Labour MP with a business background. Up to now, I would not have supported i...
Lord Darling of Roulanish | 483 c756 (Link to this contribution) I agree with my hon. Friend and I know that he speaks with considerable experience in business. It i...
Lord Darling of Roulanish | 483 c756 (Link to this contribution) Let me make a bit of progress. It is not just that the Conservative party does not accept the case ...
Lord Darling of Roulanish | 483 c756 (Link to this contribution) I give way to the hon. and learned Member for Harborough (Mr. Garnier), but then I am going to make ...
Lord Garnier | 483 c756 (Link to this contribution) I thank the Chancellor. Will he give us his best estimate of the cost of interest on Government borr...
Lord Darling of Roulanish | 483 c756 (Link to this contribution) What I would say to the hon. and learned Gentleman is that because interest rates are lower, the Gov...
Lord Darling of Roulanish | 483 c757 (Link to this contribution) I am not giving way. I want to make some progress and deal with some important points.
Lord Darling of Roulanish | 483 c757 (Link to this contribution) All right, I will give way to the shadow Chancellor as a matter of etiquette, but I want to deal wit...
Lord Darling of Roulanish | 483 c754 (Link to this contribution) No, I am not, and the shadow Chancellor seemed to go out of his way to make it clear that there was ...
Lord Darling of Roulanish | 483 c754 (Link to this contribution) I shall give way to my hon. Friend the Member for Wolverhampton, South-West (Rob Marris), but then I...
Lord Darling of Roulanish | 483 c754-5 (Link to this contribution) If I may, I want to deal with the important point about banking that the shadow Chancellor made. Fi...
Lord Darling of Roulanish | 483 c755 (Link to this contribution) In a moment. I agree that it is important to get banks to start lending again. The recapitalisation...
Lindsay Hoyle | 483 c756 (Link to this contribution) May I reassure my right hon. Friend that the memories of people across Lancashire whose minds were s...
Lord Darling of Roulanish | 483 c755 (Link to this contribution) As the Prime Minister said to the hon. Gentleman earlier, we largely agree with what he is saying, b...
Peter Tapsell | 483 c755 (Link to this contribution) We can all agree on the importance of monetary policy. Nobody wrote with greater authority or greate...
William Cash | 483 c753 (Link to this contribution) The Chancellor of the Exchequer says on page 191 of his pre-Budget report that the contingent liabil...
Lord Darling of Roulanish | 483 c753 (Link to this contribution) I do not think that Maastricht has that much to do with it, although I know that Maastricht has some...
Gordon Banks | 483 c753 (Link to this contribution) Will my right hon. Friend give way?
Lord Darling of Roulanish | 483 c753 (Link to this contribution) In one moment. It would be wrong to argue that the Conservatives did nothing about unemployment in ...
Lord Darling of Roulanish | 483 c754 (Link to this contribution) I was going to say that I know that the hon. Gentleman was here in the 1980s and'90s and that he rep...
Lord Cormack | 483 c754 (Link to this contribution) As one who remembers both of those recessions and was a Member at the time, may I say to the Chancel...
Lord Darling of Roulanish | 483 c754 (Link to this contribution) My hon. Friend is right. I know that part of his constituency also suffered greatly during the 1980s...
Gordon Banks | 483 c754 (Link to this contribution) Does my right hon. Friend agree that on the basis of the contributions we have heard from Conservati...
George Osborne | 483 c740 (Link to this contribution) I beg to move,"That this House has considered the matter of the Pre-Budget Report." On behalf of ma...
Lord Lilley | 483 c776 (Link to this contribution) It is a great privilege to follow the hon. Member for Coventry, North-West (Mr. Robinson), who speak...
Lord McLoughlin | 483 c748 (Link to this contribution) On a point of order, Mr. Speaker. The Chancellor has just made a very kind offer. Is there any way i...
Lord Darling of Roulanish | 483 c755 (Link to this contribution) I will give way to a fellow Keynesian in just a moment. It is also important that the Government do...
Vincent Cable | 483 c759 (Link to this contribution) The hon. Gentleman is right, and I shall develop that point further in a few moments. The second po...
Lord Field of Birkenhead | 483 c759 (Link to this contribution) Can the hon. Gentleman tell us whether the President-elect is thinking of spending that money on VAT...
Angus Brendan MacNeil | 483 c769 (Link to this contribution) Prior to the 2007 election in Scotland, which Labour lost, Labour people ran around with scare stori...
Lord Lilley | 483 c779 (Link to this contribution) I was not trying to make an absurd party political point like the hon. Gentleman: I was quoting the ...
Nigel Griffiths | 483 c781 (Link to this contribution) No, as I am afraid that I am constrained for time. I hope, Mr. Deputy Speaker, that my right hon. Fr...
Lord Darling of Roulanish | 483 c749 (Link to this contribution) No, not just now. The second point I want to make relates to the rate of VAT. The shadow Chancellor...
Lord Darling of Roulanish | 483 c751 (Link to this contribution) I just do not agree with the hon. Gentleman. Frankly, to cut ourselves off from the European Union a...
George Osborne | 483 c742 (Link to this contribution) I shall give way to the hon. Member for City of York (Hugh Bayley) and then proceed.
George Osborne | 483 c745 (Link to this contribution) I am saying that the Government did not fix the roof when the sun was shining. I am saying that we e...
George Osborne | 483 c741 (Link to this contribution) If hon. Members will allow me, I shall make some progress and take some interventions later. I am aw...
Rob Marris | 483 c754 (Link to this contribution) I am grateful to my right hon. Friend. From today's revealing debates, it appears that the Conservat...
Vincent Cable | 483 c764 (Link to this contribution) Back Benchers are getting a bit desperate over this. The truth is that even if there were no behavio...
Lord Darling of Roulanish | 483 c750 (Link to this contribution) I believe that cutting VAT, from which everyone can potentially benefit quickly, and the measures th...
George Osborne | 483 c747-8 (Link to this contribution) I shall make some progress, if hon. Members will allow me. They may want to hear this, because they ...
George Osborne | 483 c745 (Link to this contribution) I shall give way to my hon. Friend and then make some progress.
John Baron | 483 c742 (Link to this contribution) I thank my hon. Friend for giving way, but does he agree that one of the most alarming aspects of th...
Lord Robathan | 483 c753 (Link to this contribution) I am most grateful to the Chancellor—
Subjects
Bank services Banks Credit Budgets Borrowing Investment Financial markets Economic situation Guarantees National income National insurance contributions Public expenditure Loans Public sector debt Taxation VAT World economy Pre-Budget report 2008
Contains statistics
Yes
Link
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