Government Borrowing

Part of Oral Answers to Questions — Treasury – in the House of Commons at 11:30 am on 10 March 2005.

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Photo of Nicholas Winterton Nicholas Winterton Conservative, Macclesfield 11:30, 10 March 2005

As ever, I am grateful to the Minister for a factual reply.

The Government have some ambitious expenditure plans. Some are very desirable, but many of the most responsible economic forecasters, including the Institute for Fiscal Studies and the International Monetary Fund, believe that the Government may have to breach their golden rule. Can the Minister tell us whether the Government will consider reducing expenditure, increasing taxation or increasing borrowing? Manufacturing industry awaits Government decisions with great interest.