Matt Hancock
Main Page: Matt Hancock (Independent - West Suffolk)Department Debates - View all Matt Hancock's debates with the HM Treasury
(13 years, 6 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Speaker
Order. There is quite a lot of chuntering from sedentary positions, but I want to hear both the questions and the answers.
Matthew Hancock (West Suffolk) (Con)
Since the formation of a Government who are determined to deal with the deficit, market interest rates have in some cases halved. What impact does the Chancellor think that has had on both our GDP growth and the interest payments that we have to make on Government debt?
Mr Osborne
First, the fall has helped to reduce interest payments, and secondly it has helped many companies during the recovery. It is striking how our market interest rates have fallen since taking the steps that we announced in the Budget. That is not the case in some other countries in Europe that had similar market interest rates to ours at the time of the general election.