Part of Orders of the Day — Supply – in the House of Commons at 12:00 am on 21st June 1978.

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Photo of Mr Michael Heseltine Mr Michael Heseltine Shadow Secretary of State, Shadow Secretary of State for Environment 12:00 am, 21st June 1978

The averages are not nonsense. If the hon. Gentleman seriously intends to tell the people of this country that four years of Labour Government is worth an extra 2 per cent. on their mortgage interest rates, persistently year in and year out, I am afraid that he will find a very different response from the electorate. In other words, for every week in which this Government have been in power everyone who has an average mortgage has been paying an additional £2·50, simply for the extra cost of borrowing under a Labour Government.