Economic Crisis

Part of Opposition Day — [20th Allotted Day] – in the House of Commons at 4:32 pm on 10 November 2008.

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Photo of Susan Kramer Susan Kramer Cabinet Office, Shadow Secretary of State, Liberal Democrat Spokesperson (Cabinet Office) 4:32, 10 November 2008

But does the hon. Gentleman remember that my hon. Friend Dr. Cable said that it is in the Government's gift to set the inflation target and that looking at the current reality of the economy it was entirely appropriate to change, suspend or defer that target so that the Bank could concentrate on rescuing the economy? May I also remind the hon. Gentleman that although the shadow Chancellor, in response to an intervention from me, said that he did not comment on interest rates—I cannot read a quote during an intervention, but the hon. Gentleman will be able to find the exact words in Hansard—within two weeks, he was writing in T he Daily Telegraph that there was plenty of scope to stimulate demand with lower interest rates? That contradicts exactly what the hon. Gentleman has just said.