Oral Answers to Questions

Debate between Lord Cameron of Chipping Norton and Michael Meacher

Wednesday 15th July 2015 Commons Chamber

[Mr Speaker]

Last but not least, Mr Michael Meacher.

[Mr Michael Meacher (Oldham West and Royton) (Lab)]

Q13. If this is such a great economic recovery, why are wages still 6% below the pre-crisis level of seven years ago? Why was the growth rate in the last quarter a mere 0.4%? Why has productivity been flat for five years? Why is UK investment as a proportion of GDP one of the lowest in the world? And why is the balance of payments in traded goods now in deficit by £100 billion a year?

[The Prime Minister]

If the right hon. Gentleman wants to know why, there are two words: ask Gordon. But if he wants to know what is actually happening in our economy, let me tell him. The deficit has been halved from its peak—[Interruption.]