Oral Answers to Questions

Stephen Phillips Excerpts

Wednesday 13th March 2013 Commons Chamber

[The Prime Minister]

I do not accept what the hon. Lady says, because it is this Government who extended the number of hours to three and four-year-olds and introduced, for the first time, child care payments for vulnerable two-year-olds. We have also lifted 2 million people out of tax altogether. Someone on a minimum wage working full time has seen their income tax bill cut in half. I know that the hon. Lady wants to try to put people off a very major step forward—when we will be helping people who work hard, who want to do the right thing and who want child care for their children—but that is what we will be announcing, and I think it will be welcome.

[Stephen Phillips (Sleaford and North Hykeham) (Con)]

Q11. Britain is in a global race not just with our traditional competitor economies but with countries such as Brazil, Russia, India and China. Ahead of the Budget next week, will my right hon. Friend tell the House what assessment he has made of where we would be likely to finish in that race if we abandoned our deficit reduction programme and relied on some magical faraway tree of money, as the Opposition recommend?

[The Prime Minister]

My hon. and learned Friend makes an important point. One of the most important reasons for continuing to get our deficit down is that it is absolutely essential to have the low interest rates that are essential for home owners and for businesses. If we listened to the Labour party and abandoned those plans, we would have more spending, more borrowing and more debt—exactly the things that got us into this mess in the first place.