Oral Answers to Questions

Debate between Lord Mann and John Glen

Tuesday 17th April 2018 Commons Chamber

[John Mann (Bassetlaw) (Lab)]

13. What comparative assessment he has made of the size of the national debt (a) today and (b) 12 months ago.

[The Economic Secretary to the Treasury (John Glen)]

Public sector net debt as a percentage of GDP was 85.1% at the end of February 2018, which was 0.9 percentage points higher than last February. The latest forecast shows that debt will fall this year, two years before the fiscal rules require.

[John Mann]

The national debt is going up by £5,000 a second. Can I be helpful? Will the Minister join me in stopping hospitals that are outsourcing staffing to avoid VAT, with an estimated 6% savings on wages lost to the Treasury, from doing so?

[John Glen]

The important point is that the debt is going down this year. We want to avoid a situation like that in the last three years of the last Labour Government, when public sector net debt doubled.