Orders of the Day — Budget Resolutions and Economic Situation

Part of the debate – in the House of Commons at 5:20 pm on 7th July 1997.

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Photo of Mr Rhodri Morgan Mr Rhodri Morgan Labour, Cardiff West 5:20 pm, 7th July 1997

Is the hon. Gentleman saying that he disagrees with the readjustment upwards of the expected rate of inflation, or GDP deflator, from 2 to 2.75 per cent.? Or does he accept it as an accurate reflection of what has happened to pressures in the economy, which have pushed inflation up through the demutualisation disaster and the boom in financial services within the M25 area?