Autumn Statement

Part of the debate – in the House of Commons at 9:32 pm on 23rd January 1990.

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Photo of Dennis Skinner Dennis Skinner Member, Labour Party National Executive Committee 9:32 pm, 23rd January 1990

If the economy is going so well, why did the spokesman for the Building Societies Association say on the 9 o'clock news that, as a result of the Chancellor of the Exchequer's speech in the House of Commons today—in which he said that interest rates would have to stay high for much longer—there could well be an increase in mortgage interest rates? If the economy is strong, why are the news media running stories like that? The truth is that we have never had interest rates so high for so long even in the seventies, on which the right hon. Gentleman keeps harping.