Barry Gardiner
Main Page: Barry Gardiner (Labour - Brent North)Department Debates - View all Barry Gardiner's debates with the HM Treasury
(13 years, 8 months ago)
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Mr Osborne
The answer to my hon. Friend is no. Since Labour Members called for a vote on the value added tax rise, we have discovered that actually the shadow Chancellor supports the VAT rise. So he did have ideas; he just did not tell us about them.
Barry Gardiner (Brent North) (Lab)
If the recent report from BDO Stoy Hayward, which says that we could be back in recession by Christmas, proves true, how many more billions will the Chancellor take off the most vulnerable in society?
Mr Osborne
I draw the hon. Gentleman’s attention to the central forecasts produced by the Office for Budget Responsibility, the Bank of England, the OECD and the European Commission. They forecast steady and sustainable growth over the coming period. I take the view—a view shared by quite a number of people who observe the British economy—that if we had not put in place, in the Budget, a credible plan to reduce the budget deficit, this country would be in an economic mess.