Government Performance against Fiscal Rules Debate
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Nick Timothy
Main Page: Nick Timothy (Conservative - West Suffolk)Department Debates - View all Nick Timothy's debates with the HM Treasury
Government Performance against Fiscal Rules
Nick Timothy Excerpts(1 day, 12 hours ago)
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Darren Jones
My hon. Friend knows that this Labour Government are committed to fiscal and political stability, because that is what matters for family finances and getting this country back on track after years of chaos under the Conservatives.
Nick Timothy (West Suffolk) (Con)
I find it highly alarming that the Chief Secretary to the Treasury does not seem to realise that the cost of Government borrowing is higher now than at any time since the last Labour Government. All of this comes back to decisions about spending, so why, when Labour’s manifesto said that it would limit spending increases to £9.5 billion a year, did it increase spending by eight times as much—£76 billion a year—three months later in its Budget?
Darren Jones
Because the Conservative party had not done a spending review since 2021 and let inflation go through the roof, and the cost of doing business was higher, along with a whole string of broken promises from the Conservatives. The sooner they reflect on their mistakes and apologise to the country, the better for all of us.