Debate on Tuesday, 24 January 2017, in the House of Commons, led by Lord Hammond of Runnymede. The answering members were David Gauke, John McDonnell and Rebecca Long Bailey.

Charter for Budget Responsibility

Motion that the Charter for Budget Responsibility: autumn 2016 update, which was laid before this House on 17 January, be approved. Agreed to on division (292 to 193).

Secondary information

Type: Parliamentary proceeding
Reference: 620 cc229-252
Session: 2016-17
Department: Treasury
Chamber / Committee: House of Commons chamber
Related items: Charter for Budget Responsibility: autumn 2016 update
Tuesday, 17 January 2017
Unprinted papers
House of Commons
House of Lords
Proceeding contributions: Stephen Hammond | 620 c237 (Link to this contribution)
The Chancellor is right to place productivity at the centre of the economic problem, and the prod...; Lord Hammond of Runnymede | 620 c246 (Link to this contribution)
Let me explain to the hon. Gentleman. We suffered an exogenous shock that, according to the OBR, ...; George Kerevan | 620 c246 (Link to this contribution)
That is not what rules are for. The rules should not change when the situation changes; the polic...; Mark Field | 620 c246 (Link to this contribution)
But surely the hon. Gentleman must recognise that the proof of the pudding will be in whether the...; George Kerevan | 620 cc246-7 (Link to this contribution)
I thank the right hon. Gentleman for illustrating clearly the point that I am trying to make. Con...; Lord Hammond of Runnymede | 620 c235 (Link to this contribution)
I think my track record—of one fiscal event—answers the hon. Gentleman’s question. Clearly, I mad...; Lord Hammond of Runnymede | 620 cc235-6 (Link to this contribution)
As I shall explain in a moment, one purpose of the charter and the new fiscal rules is to allow s...; Lord Hammond of Runnymede | 620 c236 (Link to this contribution)
It is always a pleasure to be gently chided by my hon. Friend, who is of course absolutely right....; Lord Hammond of Runnymede | 620 cc236-7 (Link to this contribution)
My right hon. Friend, who represents one of the most productive sub-regions in the entire Europea...; Lord Hammond of Runnymede | 620 cc237-9 (Link to this contribution)
My hon. Friend is absolutely right. Public investment in infrastructure is part of the story, as ...; Lord Hammond of Runnymede | 620 c239 (Link to this contribution)
My hon. Friend is of course right that we will have the ability to set our own immigration contro...; Lord Hammond of Runnymede | 620 c234 (Link to this contribution)
I beg to move,
That the Charter for Budget Responsibility: autumn 2016 update, which was la...; Lord Hammond of Runnymede | 620 c240 (Link to this contribution)
For clarification, will the right hon. Gentleman confirm that it is still his policy to borrow an...; Lord Hammond of Runnymede | 620 c244 (Link to this contribution)
What is the right hon. Gentleman’s position on public debt? Ours is set to peak at just over 90% ...; Lord Hammond of Runnymede | 620 c247 (Link to this contribution)
We must remember the size of the deficit that we inherited in 2010. There would have been a way o...; George Kerevan | 620 c234 (Link to this contribution)
The Chancellor makes an interesting case about the strength of the economy. Does he not associate...; Jeremy Quin | 620 c235 (Link to this contribution)
This point is related to the one raised by the hon. Member for East Lothian (George Kerevan). Doe...; Michael Fabricant | 620 c236 (Link to this contribution)
My right hon. Friend is absolutely right to point to the productivity gap, but may I gently chide...; Mark Field | 620 c236 (Link to this contribution)
I am certainly not in the mode of wanting to chide my right hon. Friend for anything in particula...; Michael Fabricant | 620 c239 (Link to this contribution)
My right hon. Friend is being very generous in giving way. He quite rightly points out that Brexi...; John McDonnell | 620 cc239-240 (Link to this contribution)
The motion before the House rewrites the rule by which the Government intend to manage their fisc...; John McDonnell | 620 c240 (Link to this contribution)
That is interesting; I am pleased the Chancellor has raised that point. We have seen £700 billion...; Kit Malthouse | 620 c240 (Link to this contribution)
I am a little confused and wonder whether the right hon. Gentleman can clarify things. He has jus...; John McDonnell | 620 c240 (Link to this contribution)
We would have invested from the beginning in our infrastructure and skills, so we would have grow...; Mark Field | 620 c240 (Link to this contribution)
The right hon. Gentleman is right that we have borrowed a hell of a lot of money, probably too mu...; John McDonnell | 620 c241 (Link to this contribution)
The right hon. Gentleman will recall my opposition to PFI and its failures, but let me be clear: ...; Michael Fabricant | 620 c241 (Link to this contribution)
I have been in opposition, so I understand what the right hon. Gentleman is doing, but there has ...; John McDonnell | 620 c241 (Link to this contribution)
Let us look at what is happening outside in the real world. We welcome the growth in employment, ...; Michael Fabricant | 620 c242 (Link to this contribution)
The right hon. Gentleman will know that the Joseph Rowntree Foundation says that the gap between ...; John McDonnell | 620 c242 (Link to this contribution)
What we now have in our economy is a scandal of bogus self-employment. A lot of the growth in sel...; Mark Field | 620 c242 (Link to this contribution)
rose—; John McDonnell | 620 c242 (Link to this contribution)
I see that the right hon. Gentleman is ready to jump in again.; Mark Field | 620 c242 (Link to this contribution)
The shadow Chancellor will recognise that he should be doing the same as me by defending London’s...; John McDonnell | 620 cc243-4 (Link to this contribution)
Don’t worry, Madam Deputy Speaker; I was enjoying that.
The reality is that this is Governm...; John McDonnell | 620 cc244-5 (Link to this contribution)
That is clearly not the case. If the Chancellor had looked carefully at Labour’s fiscal credibili...; George Kerevan | 620 cc245-6 (Link to this contribution)
I am somewhat in awe that you are back in your place, Mr Speaker.
The Chancellor was very m...; George Kerevan | 620 c247 (Link to this contribution)
I am glad that the Chancellor has now admitted that this Government will have doubled the nationa...; George Kerevan | 620 c247 (Link to this contribution)
I am suitably chided, Mr Speaker. I cast no aspersions on the character of any individual on the ...; John McDonnell | 620 c247 (Link to this contribution)
I do not want to interfere in private banter, but I draw the hon. Gentleman’s attention to the fa...; George Kerevan | 620 cc247-8 (Link to this contribution)
I agree with the right hon. Gentleman.
The Chancellor came to the Treasury Committee, and h...; Jeremy Quin | 620 c248 (Link to this contribution)
I share the hon. Gentleman’s concern about the growth in inflation, but does he not regard it as ...; George Kerevan | 620 c248 (Link to this contribution)
Not if we take into account the fact that if inflation starts to rise, the Bank of England, as th...; Michael Fabricant | 620 c248 (Link to this contribution)
I am listening to the hon. Gentleman with great interest and I like his debating style—it reminds...; George Kerevan | 620 c249 (Link to this contribution)
I am very clear. I do not say that the rules should be changed, because I do not like the origina...; Rebecca Long Bailey | 620 cc249-251 (Link to this contribution)
The credibility of the Government’s fiscal plan as outlined in the charter for Budget responsibil...; David Gauke | 620 cc251-2 (Link to this contribution)
What the British people want is a stable and successful economy—one that means jobs, opportunity ...; John Bercow | 620 c247 (Link to this contribution)
Order. We need to be clear that the hon. Gentleman is not accusing any individual Minister of hyp...; Natascha Engel | 620 c243 (Link to this contribution)
Order. I call John McDonnell.
Subjects: Borrowing Expenditure Fiscal policy Public sector Public expenditure Reform Social security benefits Public sector debt Social security UK Debt Management Office Public finance Office for Budget Responsibility Productivity
Link: View this Parliamentary proceeding on hansard.parliament.uk

Charter for Budget Responsibility

Secondary information

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