Economic Policy

Part of Opposition Day – in the House of Commons at 5:28 pm on 6 November 1986.

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Photo of Mr Nigel Lawson Mr Nigel Lawson The Chancellor of the Exchequer 5:28, 6 November 1986

How ignorant can one get to imagine that that would lead to a reduction in unemployment. When Labour went on its spending spree, unemployment doubled.

But only the right hon. Member for Sparkbrook could believe that the first year is all that matters. We elect Governments for a whole Parliament, and what happens during the whole of that Parliament is what matters. If Labour were ever to be elected, which pledges would it fulfil? If some are to be deferred, what would they be? The House and the country have a right to know.

I have today published this Government's expenditure plans for the next three years, and the House knows, that they are backed by detailed costings, properly worked out. We have a right to ask the Opposition what alternatives they are putting forward. Which pledges would be met and which would not? I shall gladly give way now for an answer.