Michael Fallon
Main Page: Michael Fallon (Conservative - Sevenoaks)Department Debates - View all Michael Fallon's debates with the HM Treasury
(12 years, 3 months ago)
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Miss Smith
This Government are engaged in a credible deficit reduction plan. I would like to hear the hon. Gentleman and his colleagues tell us what their plan is and whether it veers towards credibility or the policies of the delusional left.
Michael Fallon (Sevenoaks) (Con)
What lesson should we draw from Standard & Poor’s warning that the UK’s rating could come under downward pressure if, against its expectation, the commitment to fiscal consolidation wavers? Should not that warning be addressed to those who want us to cut more slowly and to borrow even more as a result?
Miss Smith
My hon. Friend is absolutely correct. Our policies have kept the UK ahead of the curve. He and others in our House need only look to the French downgrade last week to see the value of the credibility we have restored to the UK economy.