Business of the House

Sajid Javid Excerpts

Thursday 27th January 2011 Commons Chamber

[Sir George Young]

I understand the hon. Lady’s concern, and when we debate the local government revenue support grant, she will have an opportunity to raise it. However, the plans of the previous Chancellor were for cuts only £2 billion lower than the coalition cuts next year, so the sort of challenges faced by her local authority would have arisen whoever had won the last election.

[Sajid Javid (Bromsgrove) (Con)]

On Tuesday this week, the Office for National Statistics released a devastating economic figure—the revision of our national debt to £2.3 trillion, which at 155% of gross domestic product is higher than that of Portugal, Ireland, Greece and Spain and equal to that of Lebanon and Jamaica. Does my right hon. Friend agree that that is the true economic legacy of the Labour party, and may we have a debate on it?

[Sir George Young]

I would welcome such a debate. My hon. Friend may have seen in The Independent today that the public have no confidence in the Labour party to run our economy. The previous Government’s efforts to forecast growth over the past 13 years—they were out by, on average, £13 billion—are the reason why we now have independent forecasts from the Office for Budget Responsibility. We lost confidence in their forecasts.