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Opposition day on Wednesday, 18 March 2009, in the House of Commons, led by George Osborne. The answering member was Yvette Cooper.

The Economy

The economy. Eighth Opposition Day debate. Main question negatived on division (217 votes to 283). Amendment agreed to on division (276 votes to 217).

Secondary information

Type
Parliamentary proceeding
Reference
489 c929-1023 
Session
2008-09
Department
Treasury
Chamber / Committee
House of Commons chamber
Proceeding contributions
Speaker | 489 c983-4 (Link to this contribution) Order. To use the lingua franca of the day’s debate, I intend to impose a light touch of regulation ...
Speaker | 489 c954 (Link to this contribution) I remind right hon. and hon. Members that Mr. Speaker has imposed a 12-minute limit on the contribut...
Show all contributions (236)
George Osborne | 489 c933 (Link to this contribution) Of course I agree with my right hon. Friend, and the tale of Lord Myners and Sir Fred Goodwin’s pens...
Tobias Ellwood | 489 c933-4 (Link to this contribution) My hon. Friend talked about the importance of helping businesses. The one initiative that has made i...
Lord Redwood | 489 c933 (Link to this contribution) My hon. Friend is making an extremely powerful case. Does he agree that another big hazard for us is...
Oliver Heald | 489 c935 (Link to this contribution) My hon. Friend is making such a strong case. Does he agree that one of the real dangers of delay is ...
George Osborne | 489 c934-5 (Link to this contribution) I will give way after I have got through this section of my speech. [Interruption.] This is about th...
George Osborne | 489 c934 (Link to this contribution) Well, it does sound a little inconsistent with the Prime Minister’s slogan of "British jobs for Brit...
George Osborne | 489 c935 (Link to this contribution) For once, I agree with the Scottish nationalists—perhaps there will be many other such occasions in ...
Angus Brendan MacNeil | 489 c935 (Link to this contribution) The hon. Gentleman is discussing a long list of Labour’s, and in particular the Prime Minister’s, br...
George Osborne | 489 c935 (Link to this contribution) I completely agree with my hon. Friend; we are facing a very severe rise in unemployment. The traged...
Patrick Hall | 489 c950 (Link to this contribution) My right hon. Friend mentioned that one needs to believe in action in order to pursue it. One also n...
Philip Dunne | 489 c950 (Link to this contribution) Will the right hon. Lady give way?
Yvette Cooper | 489 c950 (Link to this contribution) My hon. Friend is right. The fact is that no matter how tight the regulatory system is in any one co...
Yvette Cooper | 489 c950-1 (Link to this contribution) I have given way considerably. We entered this financial crisis with one of the lowest levels of Go...
Yvette Cooper | 489 c950 (Link to this contribution) I am sorry, but I will make some progress. Conservative Members do not understand that if we do not ...
Yvette Cooper | 489 c948-9 (Link to this contribution) As the hon. Gentleman knows, the Chancellor will set out his forecast in the pre-Budget report in th...
Yvette Cooper | 489 c949-50 (Link to this contribution) If the right hon. Gentleman looks at the facts so far, he will see that the drop in growth has in fa...
Brian Binley | 489 c945 (Link to this contribution) Will the Minister give way on that point?
Speaker | 489 c945 (Link to this contribution) Order. The Minister is responding to an earlier intervention.
Yvette Cooper | 489 c945 (Link to this contribution) Thank you, Madam Deputy Speaker. I have to tell the House that there will be no single quick fix for...
Brian Binley | 489 c946 (Link to this contribution) Will the Minister give way now?
Yvette Cooper | 489 c946 (Link to this contribution) I will give way to the hon. Member for Eastleigh (Chris Huhne).
Yvette Cooper | 489 c945 (Link to this contribution) We have also put in place further measures, such as the enterprise financial guarantee scheme, to su...
Brian Binley | 489 c945 (Link to this contribution) Will the right hon. Lady give way?
Yvette Cooper | 489 c944 (Link to this contribution) The hon. Gentleman is right to point out the concerns that have been raised by a series of different...
Yvette Cooper | 489 c943 (Link to this contribution) Lending is already in place for a series of different schemes. For example, 90,000 businesses have a...
Robert Smith | 489 c943 (Link to this contribution) One of the success stories of the UK economy has been the north sea oil and gas industry, which has ...
John Baron | 489 c944 (Link to this contribution) The Chief Secretary to the Treasury has been somewhat dismissive of the concerns of those hon. Membe...
Yvette Cooper | 489 c944-5 (Link to this contribution) The hon. Gentleman is simply wrong. In fact, I am very concerned about the lack of credit for import...
Oliver Heald | 489 c944 (Link to this contribution) The right hon. Lady has not mentioned consumer confidence. With repossessions going up, mass unemplo...
Yvette Cooper | 489 c944 (Link to this contribution) The hon. Gentleman is right to say it is important to support consumer confidence. We have to do mor...
Yvette Cooper | 489 c947 (Link to this contribution) I am tempted to give way to the hon. Member for Uxbridge, because he has finally woken up. However, ...
Yvette Cooper | 489 c948 (Link to this contribution) I will give way to the hon. Gentleman, but then I need to make some progress.
Yvette Cooper | 489 c947-8 (Link to this contribution) Let us just deal with the specifics of the VAT cut. It means that at the end of each month, househol...
John Butterfill | 489 c948 (Link to this contribution) May I raise a different subject with the right hon. Lady, namely the impact that the changes in the ...
Yvette Cooper | 489 c948 (Link to this contribution) I know that the hon. Gentleman has great expertise in pensions, and that Ministers at the Department...
Chris Huhne | 489 c946 (Link to this contribution) I am very grateful to the Chief Secretary for giving way. A number of hon. Members are clearly worri...
Yvette Cooper | 489 c946 (Link to this contribution) The hon. Gentleman asks an important question, and I shall give him some examples. It is clear that ...
Yvette Cooper | 489 c947 (Link to this contribution) I must make a little progress and set out the additional support that we have put in place to help p...
John Butterfill | 489 c947 (Link to this contribution) Will the Chief Secretary to the Treasury give way?
John Butterfill | 489 c947 (Link to this contribution) Will the right hon. Lady give way?
Yvette Cooper | 489 c947 (Link to this contribution) I have just updated the hon. Gentleman and the House on a series of different schemes, and in partic...
Brian Binley | 489 c946 (Link to this contribution) Will the Chief Secretary give way?
Yvette Cooper | 489 c946 (Link to this contribution) I will give way to the hon. Gentleman. He has been so persistent, and I shall worry about his health...
George Osborne | 489 c938 (Link to this contribution) I was opposing the Government, whereas the hon. Lady was supporting them. Page 29 of the report tal...
Lord Deben | 489 c938 (Link to this contribution) Is my hon. Friend aware that the FSA is demanding £120 million extra to pay for more regulation of t...
George Osborne | 489 c939 (Link to this contribution) My right hon. Friend is right. It is especially unfair that the burden of the levy is falling on the...
George Osborne | 489 c937 (Link to this contribution) My hon. Friend is absolutely right. The whole purpose of these guarantees is to try to get the money...
George Osborne | 489 c937 (Link to this contribution) If both distinguished former Treasury Ministers—to varying degrees of distinction—will allow me, I s...
George Osborne | 489 c936 (Link to this contribution) I agree with the hon. Gentleman that the way in which many of the benefits and the pensions operate ...
Shailesh Vara | 489 c936 (Link to this contribution) This morning, I received a reply from the Minister with responsibility for higher education saying t...
George Osborne | 489 c936 (Link to this contribution) I shall give way to the hon. Gentleman.
Rob Marris | 489 c936 (Link to this contribution) The very end of the Opposition motion refers to the country living "within its means", and that has ...
George Osborne | 489 c936 (Link to this contribution) My hon. Friend is right; there are numerous such examples, some of which I have raised. One has only...
John Butterfill | 489 c936-7 (Link to this contribution) Does my hon. Friend agree that it is very worrying that one of Bournemouth’s leading construction an...
Speaker | 489 c936 (Link to this contribution) Order. If hon. Members wish to intervene, they know the method that they must use.
George Osborne | 489 c936 (Link to this contribution) Again, the hon. Gentleman is making light of the fact that thousands of people are losing their jobs...
Michael Fallon | 489 c943 (Link to this contribution) Can we come back to the enterprise finance guarantee scheme? Is the Chief Secretary aware that the K...
Yvette Cooper | 489 c943 (Link to this contribution) I am glad that the hon. Gentleman, unlike some of his hon. Friends, concedes that the scheme is up a...
Peter Bone | 489 c943 (Link to this contribution) It is very good news to hear from the Chief Secretary that the scheme is in place. Can she tell us h...
Lord Redwood | 489 c942 (Link to this contribution) The right hon. Lady might want to correct the record. I have followed every word in this debate and ...
Yvette Cooper | 489 c942 (Link to this contribution) I am quite happy to give way to the right hon. Gentleman now that he is awake.
Yvette Cooper | 489 c942-3 (Link to this contribution) I am glad to know that the right hon. Gentleman concentrates so hard with his eyes closed and his sh...
Anne Main | 489 c942 (Link to this contribution) May I take the right hon. Lady back to the statement she made that implied that this was somehow lik...
Yvette Cooper | 489 c942 (Link to this contribution) Let me say to the hon. Lady that we believe that this is very serious. It is exactly right to provid...
David Tredinnick | 489 c941 (Link to this contribution) We do not need extraordinary action, but simple action. What do I say to Labelsco, a company whose r...
Yvette Cooper | 489 c941-2 (Link to this contribution) The enterprise finance guarantee scheme is available and people should ask their banks for it. If th...
Gerald Howarth | 489 c941 (Link to this contribution) Can the Chief Secretary tell us why the Chancellor of the Exchequer is not answering this most impor...
Yvette Cooper | 489 c941 (Link to this contribution) As the hon. Gentleman will know, the Chancellor of the Exchequer was in the House on Monday and will...
Yvette Cooper | 489 c940-1 (Link to this contribution) I beg to move an amendment, to leave out from "House" to the end of the Question and add:""recognise...
George Osborne | 489 c939-40 (Link to this contribution) I have given way to the hon. Gentleman already and I now want to make some progress as many hon. Mem...
Andrew Love | 489 c939 (Link to this contribution) Will the hon. Gentleman give way?
George Osborne | 489 c939 (Link to this contribution) I get the point. The scheme would be of the same nature as the guarantees we offer for interbank len...
George Osborne | 489 c932 (Link to this contribution) My memory of the autumn of 2007 was that I proposed some changes to inheritance tax that the hon. Ge...
Clive Efford | 489 c932 (Link to this contribution) The hon. Gentleman has talked about what works and what does not work. Can he explain how cutting in...
Doug Henderson | 489 c932 (Link to this contribution) Setting aside the political rhetoric—[Interruption.] I think we have heard a lot of that today. Sett...
George Osborne | 489 c932 (Link to this contribution) If the hon. Gentleman will allow me to make a little progress, I shall give way to him later—and, pe...
George Osborne | 489 c933 (Link to this contribution) I shall give way to my right hon. Friend the Member for Wokingham (Mr. Redwood) and my hon. Friend t...
Andrew Love | 489 c933 (Link to this contribution) The Institute for Fiscal Studies commended the VAT cut in its "green Budget" as bringing expenditure...
George Osborne | 489 c932-3 (Link to this contribution) Well, I can actually. The answer to the question is as follows. Of course, in a recession Government...
George Osborne | 489 c933 (Link to this contribution) Again, the hon. Gentleman would do well to look at what we have actually proposed. We have proposed ...
Lord Howard of Lympne | 489 c930 (Link to this contribution) Would not the hon. Member for High Peak (Tom Levitt)—and indeed the Prime Minister, earlier today—ha...
George Osborne | 489 c930 (Link to this contribution) The difference between this recession and the last one is that we have just seen the highest rise in...
Patrick Hall | 489 c931 (Link to this contribution) It is for the hon. Gentleman to answer for his party. According to the hon. Gentleman’s motion, we ...
George Osborne | 489 c931 (Link to this contribution) Does the hon. Gentleman agree with his colleague?
George Osborne | 489 c930-1 (Link to this contribution) As ever, my right hon. and learned Friend’s razor-sharp attention to detail has enabled him to make ...
George Osborne | 489 c931 (Link to this contribution) That was a staggeringly poor intervention. First, the Leader of the Opposition said that the economy...
Speaker | 489 c929 (Link to this contribution) I must announce that Mr. Speaker has chosen the amendment in the name of the Prime Minister.
Tom Levitt | 489 c929 (Link to this contribution) Will the hon. Gentleman give way?
George Osborne | 489 c929 (Link to this contribution) I beg to move,"That this House condemns the fact that, nine months into a recession, Government poli...
Tom Levitt | 489 c930 (Link to this contribution) I note that the shadow shadow Chancellor is not here either. The hon. Gentleman opened his speech w...
George Osborne | 489 c929-30 (Link to this contribution) I will give way in a while, but may I be allowed to say something about the report first? It offers ...
Chris Ruane | 489 c930 (Link to this contribution) Will the hon. Gentleman give way?
George Osborne | 489 c930 (Link to this contribution) First, our motion refers to the various unemployment and employment schemes that are not operational...
George Osborne | 489 c930 (Link to this contribution) It is normally a mistake to give way to the hon. Gentleman, but I will.
Chris Ruane | 489 c930 (Link to this contribution) Does the hon. Gentleman agree that the big difference between this recession and the last one, which...
David Davis | 489 c985 (Link to this contribution) Let me make two points about the hon. Gentleman’s comments on debt. First, as I said to the hon. Mem...
Doug Henderson | 489 c984-5 (Link to this contribution) It is a pleasure and a privilege to take part in this debate. When I looked at the Conservative moti...
David Davis | 489 c982-3 (Link to this contribution) The Government did not do what the Swedes did. They did not carry out that up-front identification. ...
Doug Henderson | 489 c986-7 (Link to this contribution) No, I am not giving way. In macro-global terms, there have been increases in this country both in e...
Doug Henderson | 489 c985-6 (Link to this contribution) I understand the right hon. Gentleman’s point, and if I had stuck to my speech I might have come to ...
Angus Brendan MacNeil | 489 c982 (Link to this contribution) I am listening carefully to the right hon. Gentleman. Before the Government intervened, people in th...
Peter Bone | 489 c1000 (Link to this contribution) I was delighted that my wife was able to go along and represent the constituency.
Stephen O'Brien | 489 c999-1000 (Link to this contribution) I will not, as we are all constrained by the time limit. It is important to recognise that we start...
Sally Keeble | 489 c1000 (Link to this contribution) I am sorry that I was not here for the opening speech, but we had a homecoming parade in Northampton...
Peter Bone | 489 c996 (Link to this contribution) I am listening to the hon. Gentleman with great interest. He is saying that the problems with RBS li...
Nick Ainger | 489 c995-6 (Link to this contribution) I was surprised by the comments of the hon. Member for North-East Hertfordshire (Mr. Heald). The ope...
Oliver Heald | 489 c994-5 (Link to this contribution) The hon. Lady knows that most of the 2 million extra jobs did not go to people who were here and loo...
Oliver Heald | 489 c994 (Link to this contribution) Well, I am actually very worried about what is happening to unemployment and the economy. We need a ...
Edward Timpson | 489 c994 (Link to this contribution) My hon. Friend is making a passionate speech on behalf of his constituents and of everyone who think...
Oliver Heald | 489 c994 (Link to this contribution) I could not agree more. It is classic new Labour spin: they say "Let us make an announcement and get...
Angela Eagle | 489 c994 (Link to this contribution) Will the hon. Gentleman admit that although today’s figures are extremely difficult and worrying, th...
Colin Burgon | 489 c991-2 (Link to this contribution) No, I will crack on, if my hon. Friend does not mind. The roots of the current crisis lie in the 19...
Oliver Heald | 489 c992-3 (Link to this contribution) Consumer confidence is one of the most important aspects of this recession and where it is going. I ...
Colin Burgon | 489 c990-1 (Link to this contribution) I agree with the final comments of the hon. Member for Aldershot (Mr. Howarth)—[Interruption.] I ref...
Angela Eagle | 489 c1015-6 (Link to this contribution) My hon. Friend is right. Are the Conservatives in favour of boosting demand to give real help now, ...
Lord Redwood | 489 c1014 (Link to this contribution) When did Treasury Ministers first become aware that there was a debt crisis in this country?
Rob Marris | 489 c1015 (Link to this contribution) Does my hon. Friend find it strange that the Conservatives in opposition now castigate the Governmen...
Angela Eagle | 489 c1014-5 (Link to this contribution) Perhaps I might ask the right hon. Gentleman when he first gave me a warning about what was happenin...
Speaker | 489 c1014 (Link to this contribution) Order. The House gave a fair hearing to the Opposition spokesman in the wind-ups. These are extremel...
Angela Eagle | 489 c1014 (Link to this contribution) Far from demanding more regulation during the passage of the Financial Services—[Interruption.] The ...
Peter Bone | 489 c1007-9 (Link to this contribution) It is a great pleasure to follow my hon. Friend the Member for Poole (Mr. Syms), who made a powerful...
Lord Hammond of Runnymede | 489 c1009 (Link to this contribution) The country is facing its biggest economic crisis in a generation. In the last 24 hours, we have hea...
Geoffrey Robinson | 489 c1009 (Link to this contribution) I did not give the forecast that the hon. Gentleman has quoted and I did not use the word "rapidly",...
Lord Hammond of Runnymede | 489 c1009-12 (Link to this contribution) The hon. Gentleman said that unemployment would rise by another million. We shall all read the recor...
Angela Eagle | 489 c1012-4 (Link to this contribution) We have had an interesting debate and I wish to mention a few of the contributions that I have enjoy...
Sally Keeble | 489 c1000-2 (Link to this contribution) The parade showed the huge support in the county and throughout the country for our armed forces. It...
Robert Syms | 489 c1004-6 (Link to this contribution) I declare my interest as stated in the Register of Members’ Interests. The debate has been interest...
Vincent Cable | 489 c954 (Link to this contribution) I agree with the argument of the Conservative shadow Chancellor and his colleagues that the Chancell...
Yvette Cooper | 489 c953 (Link to this contribution) Thank you, Madam Deputy Speaker. Conservative policy would be devastating for the British economy. ...
Yvette Cooper | 489 c954 (Link to this contribution) I am sorry to intervene so soon in the hon. Gentleman’s speech, but in fact interest payments on mor...
Vincent Cable | 489 c954-6 (Link to this contribution) The schemes have been institutionally established, but the question is whether people are benefiting...
Speaker | 489 c953 (Link to this contribution) Order. It is entirely dependent on the Minister who is speaking whether she gives way. She has made ...
Yvette Cooper | 489 c953 (Link to this contribution) We believe that when things get tough, we need to pull together to get through, not leave people to ...
Yvette Cooper | 489 c952 (Link to this contribution) I am delighted to give way to the right hon. Gentleman who championed less regulation and wanted to ...
Lord Redwood | 489 c952 (Link to this contribution) If the right hon. Lady tried reading the report, she would see that it said we needed tougher regula...
Yvette Cooper | 489 c953 (Link to this contribution) In his report, the right hon. Gentleman argued for a complete end to mortgage regulation.
Geoffrey Robinson | 489 c953 (Link to this contribution) It might help my right hon. Friend if I read from the report largely authored by the right hon. Memb...
Yvette Cooper | 489 c953 (Link to this contribution) Hon. Members seem to be laughing at my hon. Friend. Do they realise that he is quoting from the Cons...
Yvette Cooper | 489 c953 (Link to this contribution) —the Conservatives report, which called for an end to mortgage regulation just a month before the cr...
Yvette Cooper | 489 c952 (Link to this contribution) I will have a word. The hon. Gentleman is talking about people who were putting forward regulations...
Yvette Cooper | 489 c951-2 (Link to this contribution) That is why we are not doing that. In fact, we are increasing the investment over the next two years...
George Osborne | 489 c952 (Link to this contribution) I am grateful to the Chief Secretary, who was quoting what people were saying just before the credit...
Yvette Cooper | 489 c951 (Link to this contribution) My hon. Friend makes an important point. I shall come to the challenges that led to the global credi...
Angus Brendan MacNeil | 489 c951 (Link to this contribution) I am grateful to the right hon. Lady for giving way. Unemployment has passed the landmark of 2 milli...
Yvette Cooper | 489 c951 (Link to this contribution) I give way to my hon. Friend the Member for Edmonton (Mr. Love).
Andrew Love | 489 c951 (Link to this contribution) I thank my right hon. Friend for giving way. Picking up on the theme of the shadow Chancellor’s spee...
Yvette Cooper | 489 c951 (Link to this contribution) May I point out that the shadow Chancellor quoted from the document in question?
Speaker | 489 c951 (Link to this contribution) I dealt with that point of order earlier in the debate.
Lord Deben | 489 c951 (Link to this contribution) On a point of order, Madam Deputy Speaker. Is it in order to quote from a document that has been pro...
Vincent Cable | 489 c961 (Link to this contribution) The right hon. and learned Gentleman is quite right. The Conservatives did do so, and from day one, ...
Gerald Howarth | 489 c960 (Link to this contribution) May I remind the hon. Gentleman what he said just 10 years ago? [Hon. Members: "Just!"] In his lifet...
Vincent Cable | 489 c961 (Link to this contribution) I am glad to be welcomed to the Maoist self-apology system. Actually, I argued in 2000, at the time ...
Vincent Cable | 489 c960 (Link to this contribution) I apologise to the hon. Gentleman; I may be particularly inarticulate today. I thought that I made t...
Vincent Cable | 489 c961-2 (Link to this contribution) I read that bit because I anticipated such an intervention. Turner says, and he is absolutely right,...
William Cash | 489 c961 (Link to this contribution) The hon. Gentleman said that he thought that the Turner report was somewhat uncontroversial. Does he...
Angus Brendan MacNeil | 489 c962 (Link to this contribution) The hon. Gentleman mentions regulation. Perhaps he will recall the Prime Minister’s speech to the CB...
Vincent Cable | 489 c962 (Link to this contribution) I have already made the point about the balance of regulation, and I shall not pursue it. Although ...
Speaker | 489 c962 (Link to this contribution) Order. I remind hon. Members of the 12-minute limit on Back-Bench contributions.
Geoffrey Robinson | 489 c962-3 (Link to this contribution) What a pleasure it always is to follow the hon. Member for Twickenham (Dr. Cable). In a previous deb...
David Davis | 489 c962 (Link to this contribution) As the hon. Gentleman knows, I am a supporter of a British Glass-Steagall approach. Does he recognis...
Vincent Cable | 489 c962 (Link to this contribution) The right hon. Gentleman is absolutely right, and some of the hedge funds, for example, continue to ...
Lord Redwood | 489 c962 (Link to this contribution) Will the hon. Gentleman explain why it was the independent investment banks without commercial banki...
Vincent Cable | 489 c962 (Link to this contribution) That rather illustrated the fact that those independent investment banks, like the investment banks ...
Geoffrey Robinson | 489 c963-4 (Link to this contribution) I was making comparative judgments about other countries. If we treat their debt on the same basis a...
William Cash | 489 c963 (Link to this contribution) The hon. Gentleman and I have had some altercations about the level of debt over the past few months...
Angus Brendan MacNeil | 489 c956 (Link to this contribution) The hon. Gentleman makes a good point. He refers to companies that were in his view perhaps under-le...
Vincent Cable | 489 c956-7 (Link to this contribution) I do not think that the hon. Gentleman was listening; I said that I thought it a sensible idea. It i...
Vincent Cable | 489 c956 (Link to this contribution) I take a cue from the Conservative shadow Chancellor’s comment about tax treatment. The logical cour...
Geoffrey Robinson | 489 c956 (Link to this contribution) Unusually, I am not following the hon. Gentleman’s point. Is he saying that there will not be any ne...
Chris Huhne | 489 c957 (Link to this contribution) We are talking about debt, not deficit.
George Osborne | 489 c957 (Link to this contribution) With the greatest respect to the hon. Gentleman, I think that he is confusing his argument about ove...
Vincent Cable | 489 c957 (Link to this contribution) The right hon. Gentleman is right, and that is the correct answer to my point. We now have internati...
David Davis | 489 c957 (Link to this contribution) May I ask the hon. Gentleman a question about that very point? As he and I have discussed before, on...
Vincent Cable | 489 c957 (Link to this contribution) We are getting to the bottom of the confusion, which I do not think is mine, to be fair. There is a ...
Lord Redwood | 489 c957 (Link to this contribution) Does the hon. Gentleman agree that if we had to account for the state as companies now have to accou...
George Osborne | 489 c958 (Link to this contribution) I struggle to understand the hon. Gentleman’s position. In November—that is, post the Lehman Brother...
Vincent Cable | 489 c959 (Link to this contribution) That is absolutely right. I was talking about tax cuts and had argued, as I continue to argue, that ...
Vincent Cable | 489 c959 (Link to this contribution) The serious argument is that if we do not have a productive fiscal stimulus of some kind and do not ...
David Davis | 489 c959 (Link to this contribution) I am just posing this as a question; I do not actually know the answer. A few weeks ago, Paul Volcke...
Vincent Cable | 489 c959 (Link to this contribution) I am puzzled by that number, which the Chancellor used on Monday. I checked up afterwards on where h...
Patrick Hall | 489 c959 (Link to this contribution) I understand that the IMF has declared that the entire package of fiscal and monetary stimulus in th...
David Davis | 489 c980-2 (Link to this contribution) It is always a pleasure to follow the right hon. Member for Oldham, West and Royton (Mr. Meacher) be...
Michael Meacher | 489 c979-80 (Link to this contribution) I must finish; I cannot take any more interventions. It has been estimated—no one knows for certain...
Michael Meacher | 489 c977-9 (Link to this contribution) That is a relevant point. As the hon. Member for Twickenham (Dr. Cable) said, what is desperately ne...
Peter Bone | 489 c977 (Link to this contribution) The right hon. Gentleman is making a powerful speech, and I am grateful to him for giving way. Does ...
Michael Meacher | 489 c977 (Link to this contribution) I was referring to a boom that led to a most serious bust between 1990 and 1992. That bust was the r...
Lord Redwood | 489 c977 (Link to this contribution) Does the right hon. Gentleman realise that Baroness Thatcher left office more than 19 years ago, and...
Michael Meacher | 489 c976-7 (Link to this contribution) At least I agree with the right hon. Member for Wokingham (Mr. Redwood) on his last remarks, about p...
Lord Redwood | 489 c975-6 (Link to this contribution) The Office for National Statistics is going to demand quite a big recognition of these banking risks...
Geoffrey Robinson | 489 c965 (Link to this contribution) The £3 trillion is thanks to the commercial judgment of the relevant banks, to which the Conservativ...
Lord Redwood | 489 c965 (Link to this contribution) Why is our proposal more risky than taking over £3 trillion of assets and liabilities, including som...
Geoffrey Robinson | 489 c964-5 (Link to this contribution) I will not give way again—we have only 12 minutes and I want to concentrate on the one policy that t...
Laura Moffatt | 489 c969-70 (Link to this contribution) I did not doubt that there would be a fair smattering of the "I told you so’s" in today’s debate, an...
Lord Howard of Lympne | 489 c967-9 (Link to this contribution) It seems to me that we cannot arrive at the right prescription for the future of our economy unless ...
Geoffrey Robinson | 489 c966-7 (Link to this contribution) We would therefore simply have to extend the scope a little. Such a law would not be made against on...
David Davis | 489 c965 (Link to this contribution) I agree with the hon. Gentleman. We all feel aggrieved at Fred Goodwin’s pension, but his proposal w...
Christopher Fraser | 489 c970 (Link to this contribution) Can the hon. Lady explain how the Government’s proposed increase in business rates will help small b...
Laura Moffatt | 489 c970-1 (Link to this contribution) I am very grateful to the hon. Gentleman for that intervention, because it gives me another opportun...
Brian Binley | 489 c970 (Link to this contribution) The hon. Lady always speaks up bravely on behalf of her constituents, but does she recognise that th...
Laura Moffatt | 489 c971-2 (Link to this contribution) I am explaining that I know that my college—Central Sussex in Crawley—is going ahead with such work....
Lord Hammond of Runnymede | 489 c971 (Link to this contribution) We are, of course, all delighted about the good news for the hon. Lady’s local further education col...
Brooks Newmark | 489 c975 (Link to this contribution) The Chancellor has asked the banks to be transparent in their accounting only this past week. Is thi...
Lord Redwood | 489 c972-5 (Link to this contribution) Let us first of all get rid of some of the nonsensical soundbites that the Government offer in subst...
Peter Bone | 489 c975 (Link to this contribution) Is it not a fact that international accounting standards require them to do so? There are no ifs and...
Lord Redwood | 489 c975 (Link to this contribution) Of course they should. The Government should not think that everybody outside in the real world is a...
Laura Moffatt | 489 c970 (Link to this contribution) I thank the hon. Gentleman for giving me the opportunity to say that we have also allowed businesses...
Jeremy Browne | 489 c948 (Link to this contribution) I am grateful to the right hon. Lady for giving way. Millions of people across the country will be r...
Lord Deben | 489 c949 (Link to this contribution) If the Government are doing all these wonderful things, why has the International Monetary Fund said...
Brian Binley | 489 c946 (Link to this contribution) The Minister is always kind and gentle with me, and I am most appreciative. She has talked about the...
Gerald Howarth | 489 c987-90 (Link to this contribution) By common consent, we are facing the worst recession in a generation and, as each day passes, we hea...
Brooks Newmark | 489 c1002-4 (Link to this contribution) The Prime Minister has indeed taken Britain from boom to bust. As we heard from my hon. Friend the M...
Lord Howard of Lympne | 489 c961 (Link to this contribution) Before the hon. Gentleman indulges in a further orgy of self-congratulation, will he concede that, c...
Angus Brendan MacNeil | 489 c979 (Link to this contribution) Will the right hon. Gentleman give way?
Lord Randall of Uxbridge | 489 c947 (Link to this contribution) Perhaps the right hon. Lady does not appreciate what it is like to run a business. I have a retail b...
Geoffrey Robinson | 489 c959-60 (Link to this contribution) I hesitate to involve myself in this economic seminar with the Liberal spokesman, but again, I did n...
Geoffrey Robinson | 489 c939 (Link to this contribution) On the hon. Gentleman’s £50 billion loan scheme, would it count as Government expenditure? If it wou...
Stephen O'Brien | 489 c997-9 (Link to this contribution) I ask the House to note my entry in the Register of Members’ Interests. First, I want to congratulat...
Nick Ainger | 489 c996-7 (Link to this contribution) I listened with interest to what Opposition Members said about how removing the regulatory role from...
Vincent Cable | 489 c958 (Link to this contribution) That totally ignores the other side of the balance sheet. The banks will have to be, and should be, ...
Subjects
Debts Business Banks Advisory services Borrowing Finance Financial services Financial institutions Government departments Income Government assistance Financial markets Government shareholding Economic situation Pay Public expenditure Mortgages Pension funds Monetary policy Regulation Taxation VAT Unemployment Government guaranteed credit Loan guarantee scheme
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