Autumn Statement

Part of the debate – in the House of Commons at 3:30 pm on 1 November 1988.

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Photo of Quentin Davies Quentin Davies , Stamford and Spalding 3:30, 1 November 1988

I know that my right hon. Friend is a very kindly and sympathetic man. His statement sets out the most magnificent record of economic management and very reassuring prospects for our economy. Will he spare a thought for the appalling problems that he has caused the Opposition? It is quite impossible to argue with such a record and say anything remotely sensible, as was demonstrated from the Opposition Front Bench. The prospect of £10 billion of public sector debt repayment next year is splendid, but its effect on demand will be negated if it is compensated by net household dissaving. I know that my right hon. Friend is concerned about this and that is why he has raised interest rates. Will he give us some estimate of how he sees the savings ratio moving over the next 12 months?