May I sincerely congratulate my right hon. Friend the Chancellor on keeping his head while all around are losing theirs? I am sure that he would have liked to have delivered a rather different statement if the vote had gone the other way last night. Does he agree that economic...

May I sincerely congratulate my right hon. Friend the Chancellor on keeping his head while all around are losing theirs? I am sure that he would have liked to have delivered a rather different statement if the vote had gone the other way last night. Does he agree that economic...

I apologise, Mr Speaker, for being unavoidably rather late in the Chamber. While I welcome the tone of the Prime Minister’s statement today and the commitments to free trade, internationalism and so on, which are very welcome, does my right hon. Friend agree that when he is negotiating free trade...

I apologise, Mr Speaker, for being unavoidably rather late in the Chamber. While I welcome the tone of the Prime Minister’s statement today and the commitments to free trade, internationalism and so on, which are very welcome, does my right hon. Friend agree that when he is negotiating free trade...

I congratulate my right hon. Friend on sticking unswervingly, despite all the recent difficulties, to his commitment to a balanced budget over the cycle and on answering the fears expressed by some of us by sticking to his aim of a modest budget surplus if the economic cycle remains strong....

I congratulate my right hon. Friend on sticking unswervingly, despite all the recent difficulties, to his commitment to a balanced budget over the cycle and on answering the fears expressed by some of us by sticking to his aim of a modest budget surplus if the economic cycle remains strong....

Does my right hon. Friend recall, as I do, that the shadow Chancellor was the right-hand man of the Chancellor who presided over the credit crunch, the banking collapse and the incurring of the biggest deficit in the G20, and does he not find his conversion to rigid fiscal discipline...

Does my right hon. Friend recall, as I do, that the shadow Chancellor was the right-hand man of the Chancellor who presided over the credit crunch, the banking collapse and the incurring of the biggest deficit in the G20, and does he not find his conversion to rigid fiscal discipline...

The Chancellor has acknowledged that we are going to have a very sharp slowdown of the economy at the end of a period in which a sea of household and Government debt has sustained growth so far. Does he not therefore accept that people will be looking to today's statement...

The Chancellor has acknowledged that we are going to have a very sharp slowdown of the economy at the end of a period in which a sea of household and Government debt has sustained growth so far. Does he not therefore accept that people will be looking to today's statement...

Of course there are years in which growth in spending must be constrained below the growth of the economy, and the beginning of the 14 years of growth that we have enjoyed was accompanied by a long period of that kind, for which I was responsible. What I do not...

Of course there are years in which growth in spending must be constrained below the growth of the economy, and the beginning of the 14 years of growth that we have enjoyed was accompanied by a long period of that kind, for which I was responsible. What I do not...

One year—of course! The Red Book uses funny time scales and considers output per man. On all measures of productivity, this country is underperforming.

One year—of course! The Red Book uses funny time scales and considers output per man. On all measures of productivity, this country is underperforming.

If I give way again, I will have no more injury time. Ever since he was shadow Chancellor, this Chancellor has stressed the need to improve our productivity level, but he has a dreadful record on it. The Red Book includes an extraordinary set of international comparisons, which the hon....

If I give way again, I will have no more injury time. Ever since he was shadow Chancellor, this Chancellor has stressed the need to improve our productivity level, but he has a dreadful record on it. The Red Book includes an extraordinary set of international comparisons, which the hon....

I am not going to give way. Productivity in the public sector has been dropping like a stone as huge sums of money have gone into increased payrolls, huge pay rises, reduced work loads and reduced performance in service after service. We must consider innovation, because our research and development...

I am not going to give way. Productivity in the public sector has been dropping like a stone as huge sums of money have gone into increased payrolls, huge pay rises, reduced work loads and reduced performance in service after service. We must consider innovation, because our research and development...

I draw the attention of the House to my entry in the Register of Members’ Interests. I have not missed many Budgets, if any, since I entered the House, and I have never heard a Budget that had less content than the Budget that was delivered last week. It has...

I draw the attention of the House to my entry in the Register of Members’ Interests. I have not missed many Budgets, if any, since I entered the House, and I have never heard a Budget that had less content than the Budget that was delivered last week. It has...

The Chief Secretary must deliver the public spending round—I have worked with some tough Chief Secretaries, and I hope that he has got the knuckledusters ready.

The Chief Secretary must deliver the public spending round—I have worked with some tough Chief Secretaries, and I hope that he has got the knuckledusters ready.

I realise that spending is not usually a matter for the Budget, although I used to include it. However, when one considers fiscal policy, spending is still relevant to the debate. The Government are raising tax and are about to cut spending growth drastically—they argued that we were being draconian...

I realise that spending is not usually a matter for the Budget, although I used to include it. However, when one considers fiscal policy, spending is still relevant to the debate. The Government are raising tax and are about to cut spending growth drastically—they argued that we were being draconian...

The Chancellor says that every year, but the record, as the hon. Gentleman has conceded, is dreadful. Business investment in the fourth quarter of last year was 9.1 per cent. of GDP—the lowest figure recorded in this country since records began in 1965. Our business investment record is very poor,...

The Chancellor says that every year, but the record, as the hon. Gentleman has conceded, is dreadful. Business investment in the fourth quarter of last year was 9.1 per cent. of GDP—the lowest figure recorded in this country since records began in 1965. Our business investment record is very poor,...

Statement on G7 Jobs Conference in Detroit. - Inc fact that US Treasury Sec Lloyd Bentsen read out a chairmans statement on behalf of G7 (copy in Library DEP 10530).

Statement on G7 Jobs Conference in Detroit. - Inc fact that US Treasury Sec Lloyd Bentsen read out a chairmans statement on behalf of G7 (copy in Library DEP 10530).