Government Performance against Fiscal Rules Debate
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John Grady
Main Page: John Grady (Labour - Glasgow East)Department Debates - View all John Grady's debates with the HM Treasury
Government Performance against Fiscal Rules
John Grady Excerpts(1 day, 17 hours ago)
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Darren Jones
The Treasury engages with business leaders and investors all the time, and the one thing they tell me is that they are grateful this Government have brought back long-term, multi-year budgets, that we have the fiscal rules in place, and that we are reforming things like the planning system to make it easier to do business in this country. As a consequence, business confidence is increasing under this Government, having dropped enormously under the right hon. Member’s Government.
John Grady (Glasgow East) (Lab)
My constituency faces a housing crisis, and inflation and out-of-control borrowing costs make it much more expensive to build social housing, and those costs are passed on to tenants. Does my right hon. Friend agree that that is precisely why the fiscal rules are critical?
Darren Jones
The fiscal rules are important because when we control the nation’s finances, we bring stability to family finances. We have all experienced the consequences of previous Governments losing control, and our mortgage rates and rents have gone through the roof. This Labour Government will never let that happen again.