Part of Oral Answers to Questions — Prime Minister – in the House of Commons at 12:00 am on 14th May 1991.

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Photo of Mr John Major Mr John Major , Huntingdon 12:00 am, 14th May 1991

My hon. Friend is entirely right. It would seem from what the Leader of the Opposition has said that the Labour party is planning either dramatically to increase taxation or dramatically to cut spending on public services. Privatisation has not only raised significant resources to liquidate parts of the national debt but has dramatically improved the performance of the companies concerned. We shall continue with policies of privatisation. I think that that will be much more welcome to people than increasing borrowing on the scale that a Labour Government would envisage and increasing taxation, which is what Labour has always delivered.