Oral Answers to Questions

Debate between Mark Hoban and Stuart Andrew

Tuesday 21st December 2010 Commons Chamber

[Stuart Andrew (Pudsey) (Con)]

20. What discussions he has had with his international counterparts since the G20 Seoul summit on co-ordination of efforts to reduce Government deficits.

[The Financial Secretary to the Treasury (Mr Mark Hoban)]

At the G20 summit in Seoul in November, advanced countries committed to developing plans, which reflected their situations, to tackle their deficits and promote growth. The Chancellor has been actively involved in discussions with international and European counterparts since the Seoul summit. As was the case with previous Administrations, it is not the Government’s practice to provide details of all such discussions.

[Stuart Andrew]

Has my hon. Friend discussed with his counterparts the fact that the key to securing low interests rates for the long term is to take effective and decisive action on Government deficits?

[Mr Hoban]

My hon. Friend is absolutely right. We are very fortunate in this country. Because the Government took difficult decisions to tackle the deficit when we came into office, we are in a much stronger place now—consider the turbulence in the eurozone. The difficult decisions that we took ensured that we stepped back from the brink of bankruptcy.