Andrew Bridgen
Main Page: Andrew Bridgen (Independent - North West Leicestershire)Department Debates - View all Andrew Bridgen's debates with the HM Treasury
(7 years, 10 months ago)
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Mr Osborne
First of all, the problems in the financial markets eight years ago hit this country more severely than almost any other country in the world, and the Government at the time take some responsibility for that. Secondly, the challenge we face is one that was delivered by our democracy. It is a democratic outcome that we accept and respect and we have to make it work for our country. I am determined to make that happen.
As the hon. Lady well knows, productivity growth is a challenge in every western democracy at the moment. Indeed, the US is now predicted to have negative productivity growth. Productivity is still growing in the UK, but we need to do more to improve it. Education reform, welfare reform and transport investment are good places to start.
Andrew Bridgen (North West Leicestershire) (Con)
From the moment the result of the EU referendum was announced and the British people said that they wanted to leave the European Union, prominent commentators in most areas of the media have revelled in running down the British economy and its future prospects. With employment at a record high and unemployment at a 10-year low, does my right hon. Friend agree that the British economy is well placed to face the future?
Mr Osborne
I completely agree with my hon. Friend. We are well placed because we have got behind Britain’s businesses, large and small. The essential decision that we—he and I and our colleagues—took collectively six years ago was to push for a private sector recovery, rather than to continually pump in Government money to try to sustain the economy. That approach has been vindicated by the record numbers of jobs and businesses created and our record growth compared with other advanced economies.