Financial Assistance (Ireland)

Dominic Raab Excerpts

Monday 22nd November 2010 Commons Chamber

[Mr Osborne]

I am absolutely committed to setting out our growth policies—[Interruption.] Perhaps I could make the observation that I did not think that today, given the other things that are going on, would be a particularly good day for the House to discuss an economic paper from the Government. I thought it better to take the time to explain what is happening in Ireland and what we are doing to assist it.

[Mr Dominic Raab (Esher and Walton) (Con)]

The Chancellor has set out the national interest in supporting a close trading partner and avoiding the systemic risks posed by an Irish default. How can we mitigate a third risk—the moral hazard of the taxpayer picking up the tab for yet another banking bail-out?

[Mr Osborne]

Of course, the support that we are providing with the bilateral loan is to the Irish Government—to the sovereign—and we have every expectation that that will be repaid.