Sammy Wilson
Main Page: Sammy Wilson (Democratic Unionist Party - East Antrim)Department Debates - View all Sammy Wilson's debates with the Northern Ireland Office
(12 years, 5 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Paterson
I entirely agree with my hon. Friend. One survey showed that public spending represents 77.6% of GDP in Northern Ireland. We know that that is wholly unsustainable, and we are committed to rebalancing the economy over time, working closely with the Executive.
Sammy Wilson (East Antrim) (DUP)
One of the ways of rebalancing the economy towards the private sector is to ensure that there is a flow of funds from the banking sector to private firms. What steps will the Government take to ensure that the credit easing measures announced yesterday will apply effectively in Northern Ireland, given the lack of market penetration by UK mainland banks and the high dependence on Irish banks?
Mr Paterson
I am grateful for the opportunity to clarify that the national loan guarantee scheme, which the Chancellor announced yesterday, applies to Northern Ireland. That will be of great benefit to small businesses right across Northern Ireland.