IMF Economic Outlook Debate

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Department: HM Treasury

IMF Economic Outlook

Alison Thewliss Excerpts
Tuesday 31st January 2023

(1 year, 3 months ago)

Commons Chamber
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James Cartlidge Portrait James Cartlidge
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I am happy, once again, to refer to what the IMF said. At this morning’s press conference, Pierre-Olivier Gourinchas, the IMF’s economic counsellor, confirmed

“the good news: the UK economy has actually done relatively well in the last year. We’ve revised”

growth

“upwards to 4.1%...that’s one of the highest growth rates in Europe”.

Alison Thewliss Portrait Alison Thewliss (Glasgow Central) (SNP)
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The Minister talks about other countries, but the reason why things are so bad in the UK is squarely down to the impact that Brexit is having on the economy—a Brexit that Scotland did not vote for. Can he tell me how piling austerity on top of the austerity that has already taken place over the past decade will help us out of this economic crisis that the Tories have created?

James Cartlidge Portrait James Cartlidge
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It is astonishing that the hon. Lady would say that all our problems are solely down the Brexit. We have record energy bills. In the last year, as a country, we have had to find an additional £150 billion to fund energy because of the invasion of an independent sovereign country by Russia. That was not our fault, and nor was the pandemic—[Interruption.] She talks about austerity. We put in place £400 billion of support during the pandemic, and almost £100 billion of cost of living support and help with energy bills. That is not austerity. I will tell the House what it is: the United Kingdom Treasury backing every single part of the United Kingdom.