Financial Crisis

Part of the debate – in the House of Commons at 4:38 pm on 20th January 2009.

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Photo of Philip Hammond Philip Hammond Shadow Chief Secretary to the Treasury 4:38 pm, 20th January 2009

After that rant and tirade I wonder whether it is worth the effort, but the hon. Gentleman did ask a question. The Opposition's position is clearly that interest rate decisions are for the Monetary Policy Committee. If he were to look at the motion that we have tabled for tomorrow's debate, he would see that we acknowledge that the reason why interest rates have fallen is perfectly understandable, as are the decisions of the MPC. We have sought to address the problems facing savers through the tax system—if he is able to turn up tomorrow afternoon, he will hear a little more detail.

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