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Mike Freer

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Currency and Banknotes (Amendment)
Tuesday 6th September 2011

(12 years, 8 months ago)

Commons Chamber
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David Gauke Portrait Mr Gauke
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My hon. Friend will be aware that we are not privy to the advice that was given to previous Governments. However, I look forward to reading tomorrow confirmation that the previous Chancellor believed that it was a wise course of action to increase VAT.

Mike Freer Portrait Mike Freer (Finchley and Golders Green) (Con)
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4. What recent estimate he has made of the public sector borrowing requirement.

Danny Alexander Portrait The Chief Secretary to the Treasury (Danny Alexander)
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The July public sector finances release issued by the Office for National Statistics estimates that the out-turn for public sector net borrowing in 2010-11 is £142.7 billion, or 9.7% of gross domestic product—£14 billion lower than in 2009-10.

Mike Freer Portrait Mike Freer
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Citibank economist Michael Saunders recently said that

“the major risk to the UK’s fiscal outlook and credit rating would be if the coalition fails to stay the course on fiscal consolidation.”

Does my right hon. Friend agree?

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