Government Performance against Fiscal Rules Debate
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Rachel Blake
Main Page: Rachel Blake (Labour (Co-op) - Cities of London and Westminster)Department Debates - View all Rachel Blake's debates with the HM Treasury
Government Performance against Fiscal Rules
Rachel Blake Excerpts(1 day, 13 hours ago)
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Darren Jones
The hon. Lady encourages me to act above my pay grade. The Chancellor will set out the date for the autumn Budget in due course. The hon. Lady invited me to explain to the House what our strategy was at the Budget—it was about investing in the renewal of Britain. That is why the Chancellor’s decision to update the fiscal rules to allow billions of pounds of investment in our capital infrastructure across the country, including into schools and hospitals, was the reason that the Budget was set out as it was. She also asked me about trade deals. I politely point to the three trade deals that the Government have already agreed with the European Union, India and the United States of America, saving thousands of jobs across the UK and generating growth in the years ahead.
Rachel Blake (Cities of London and Westminster) (Lab/Co-op)
Does the Chief Secretary to the Treasury agree that it is because of these fiscal rules that this Government have been able to establish firm foundations for future growth? Will he explain to the House how the Budget stability rule supports the Government with confidence of investors and businesses?
Darren Jones
My hon. Friend knows from her work on the Treasury Committee that the fiscal rules are important because they prove that the Government are in control of the public finances. We saw what happened when the last Government lost control: the cost of Government borrowing went through the roof, and that takes money out of budgets before they even get to public services like the national health service. That is why this Government are committed to our fiscal rules and will ensure that they are being implemented.