Proceeding contribution from Lord Hammond of Runnymede (Conservative) in the House of Commons on Tuesday, 24 January 2017. It occurred during Debate on Charter for Budget Responsibility.

Charter for Budget Responsibility

I think my track record—of one fiscal event—answers the hon. Gentleman’s question. Clearly, I made the decision in November to borrow a discretionary £23 billion to invest in areas specifically focused on raising productivity in the UK economy. So, of course, the answer to the question “Can borrowing to invest ever be sensible?” is yes—if the circumstances are right, if it is a judicious amount of borrowing and if it is precisely targeted to achieve a purpose.

Secondary information

Type: Proceeding contribution
Reference: 620 c235
Session: 2016-17
Chamber / Committee: House of Commons chamber
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 Proceeding contribution on hansard.parliament.uk

Charter for Budget Responsibility

Secondary information

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