First Day

Part of Debate on the Address – in the House of Commons at 3:23 pm on 6th May 1992.

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Photo of Mr John Major Mr John Major , Huntingdon 3:23 pm, 6th May 1992

I am surprised by the first part of the hon. Gentleman's question because he knows as well as any hon. Member that the plans about the change in the fiscal deficit are clearly set out in the Red Book. They are there for the House to examine. They were there before the election and they are there now, and we shall seek to stick to them until we have a balanced budget. The direction is clear. We saw the cyclical rise of the fiscal deficit during the recession, and as we come out of recession that deficit will begin to fall. We have made that entirely clear to hon. Members time and again.