Barry Gardiner
Main Page: Barry Gardiner (Labour - Brent North)Department Debates - View all Barry Gardiner's debates with the HM Treasury
(13 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Danny Alexander
Sadly, there has been no formal apology. Labour Members are free to offer one during this questions session should they wish to. In fact, with the revised Office for National Statistics forecasts of the last couple of days, we have seen the predicted reduction in the size of the economy go from 6.2% to 6.4%. Even after they have left office, their recession is still getting worse.
Barry Gardiner (Brent North) (Lab)
Is the UK on the brink of a debt downgrade because the rating agencies have noted that the Government propose to cut capital allowances and therefore stifle investment, or because the agencies do not share the Government’s optimism about Europe’s capacity to buy UK goods in the future?
Danny Alexander
No, the hon. Gentleman will know that the rating agencies’ response to the Budget has been positive and ensured that we have a stronger position going forward.