Chris Evans
Main Page: Chris Evans (Labour (Co-op) - Islwyn)Department Debates - View all Chris Evans's debates with the HM Treasury
(13 years, 6 months ago)
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Chris Evans (Islwyn) (Lab/Co-op)
The Chancellor seems confident that the bail-out package will work. What will happen if it does not? Will there be more loans, and can we expect public sector cuts to pay for them?
Mr Osborne
Of course, an absolute precondition of the package being negotiated is that not just the UK but the IMF and others believe that it will work. An enormous amount of effort is going into putting together a package that will deal not just with the sovereign debt situation, but—the former Chancellor alluded to this—with the Irish banking situation. That is a key part of the package.