Hugh Bayley
Main Page: Hugh Bayley (Labour - York Central)Department Debates - View all Hugh Bayley's debates with the HM Treasury
(13 years, 5 months ago)
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Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.
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Mr Hoban
My hon. Friend makes a number of very valuable points. If we had not taken tough action when we came into government, when rating agencies had our credit rating as negative, we would not have managed to narrow the spreads on UK debt compared with German bunds and reduce the yields on British debt. All that is testament to the strength of the action we have taken to tackle Britain’s fiscal problems and the legacy we inherited from the Labour party.
Hugh Bayley (York Central) (Lab)
Has the Treasury considered the implications for sterling if the Republic of Ireland were to leave the euro and seek to re-peg to the pound?