Kelvin Hopkins
Main Page: Kelvin Hopkins (Independent - Luton North)Department Debates - View all Kelvin Hopkins's debates with the Cabinet Office
(9 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
The Prime Minister
I would say to my hon. Friend, who I know cares passionately about this issue, as I do, that we are one of the few countries in Europe to meet 2%. We have met it through this Parliament, and we are meeting it this year and next year. He has very specific guarantees about a full replacement for Trident, a £160 billion equipment programme that will go up in real terms each year and no further reductions in regular personnel in our armed forces. I think those are bankable assurances, which will resonate on the doorsteps as he goes house to house.
Kelvin Hopkins (Luton North) (Lab)
Even at this late stage, I think that the Prime Minister might thank my right hon. Friend the Member for Kirkcaldy and Cowdenbeath (Mr Brown) for keeping us out of the euro. As he knows, the euro has been sinking like a stone in recent weeks and there are terrible stresses inside the eurozone, arising from the rigidities of the euro. Is not the only serious solution to dissolve the euro and recreate national currencies? Is he not in a strong position to say that?
The Prime Minister
I believe strongly in maintaining our national currency, but it is not a realistic option to tell all other countries in Europe which currency they should use. Many of them are hugely enthusiastic about the euro. However misguided I feel that is, arguing that they should all break up their currency is not a viable option. Obviously, being in the euro and not being able to devalue have damaged Greece’s ability to respond to the problems, but we cannot lay all the problems with the Greek economy at the door of the euro. Greece has a long history of not making structural reforms, having ludicrously early retirement ages—[Interruption.]—having problems with its working practices and all the rest of it. The hon. Member for Bolsover (Mr Skinner) asks what is wrong with ludicrously early retirement ages. He has enjoyed making such comments from a sedentary position for many, many years and I am sure that he will do so for many years to come. There is a slight irony there.