Lord Newby
Main Page: Lord Newby (Liberal Democrat - Life peer)Department Debates - View all Lord Newby's debates with the HM Treasury
(13 years ago)
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Lord Newby
My Lords, do not the comments of Standard & Poor in the US on the possible downgrading of American debt show the folly of building up too great a deficit, however tempting it might be to spend more money on things which we would all like to see?
Lord Sassoon
Yes, indeed. As ever, my noble friend Lord Newby gets it absolutely right. Fiscal discipline is absolutely the watchword of this Government. I should say that the Armed Forces will get all the expenditure that they need in relation to net additional costs of military operations in Libya and elsewhere, but that is the exception to the rule.