Oral Answers to Questions

Debate between Peter Bone and George Osborne

Wednesday 9th December 2015 Commons Chamber

[Mr Peter Bone (Wellingborough) (Con)]

An important report was published today showing that the TV debates at the general election were a great success, engaging people who are not normally interested in politics, particularly young people. Will the acting Prime Minister—I know he might have a personal interest in this matter—encourage TV debates at the next general election?

[Mr Osborne]

The TV debates are decided in discussions between the political parties and the broadcasters. I think that my right hon. Friend the Prime Minister did exceptionally well in them last time.

Oral Answers to Questions

Debate between Peter Bone and George Osborne

Tuesday 1st December 2015 Commons Chamber

[Mr Osborne]

As I have said, investment in renewables will double over the next five years, and much of that investment will go into Scotland—[Interruption.] Look, the Scottish nationalists have a choice now. They have got some extra money and increased capital spending, and if they want to invest in carbon capture and storage in Scotland they can do so. It is called devolution.

[Mr Peter Bone (Wellingborough) (Con)]

Every three weeks, British taxpayers send more than £1 billion to Brussels. If the British people vote to come out of the EU, can the excellent Chancellor tell us how much earlier we would eliminate the deficit?

[Mr Osborne]

I will not get into the debate about our membership of the European Union, but what I would say is that—thanks to the hard negotiating of my right hon. Friend the Prime Minister—we have cut the EU budget.

Greece

Debate between Peter Bone and George Osborne

Monday 6th July 2015 Commons Chamber

[Mr Osborne]

My hon. Friend makes a very good observation. Countries that fail to live within their means are exposed to the forces of the international bond markets and the flight of investor confidence. Five years ago, Britain had a budget deficit of over 10% of its national income. We have reduced that budget deficit, and this week we are going to take further steps to finish the job.

[Mr Peter Bone (Wellingborough) (Con)]

The Chancellor will be aware of the detailed contingency plan that the eurozone has for a Greek exit from the euro. With the markets calm, would not this be the time to implement that plan?

[Mr Osborne]

As I say, it is not for us to dictate to the Greek people or to the eurozone whether Greece should leave. I repeat: the elected Government of Greece say that they want to remain in the eurozone, so we should at least respect that intention, and we will see whether they can work with their partners to deliver it.

Greece

Debate between Peter Bone and George Osborne

Monday 29th June 2015 Commons Chamber

[Mr Osborne]

Clearly, we are a large economy that is probably the most interconnected and open of the major economies of the world. We have a very large financial sector, so we are exposed to financial turbulence wherever it occurs in the world, which is all the more reason why we need a proper system of regulation and we have now put the Bank of England in charge of regulation. We also need properly capitalised banks—under that new system of regulation, our banks have been recapitalised—and we need to make sure that we are not carrying a very large budget deficit. We have halved the budget deficit and we will take further steps next week to reduce and eliminate that budget deficit. We are prepared for whatever the world throws at us.

[Mr Peter Bone (Wellingborough) (Con)]

Does the Chancellor agree that, on occasion, we have to tell friends things that they do not want to hear? In that regard, would it not be better to tell our friends in the eurozone that, certainly in the medium and long term, a Greece exit from the euro and the return of its national currency, which it could then devalue, would be the right thing to do?

[Mr Osborne]

Of course, there are occasions when we have to tell our friends things they do not want to hear, but it is also a good rule in life to pick our moment and I am not sure that this is the right moment.