Only a few days to go: We’re raising £25,000 to keep TheyWorkForYou running and make sure people across the UK can hold their elected representatives to account.

Donate to our crowdfunder

Government Capital Expenditure

Part of Opposition Day — [3rd Allotted Day] – in the House of Commons at 5:30 pm on 2nd February 2009.

Alert me about debates like this

Photo of David Gauke David Gauke Shadow Minister (Treasury) 5:30 pm, 2nd February 2009

I am sorry I missed that one, so I am grateful to my hon. Friend for highlighting it. Let me match that quotation from one Liberal sage to conclude with a quotation from another Liberal sage—the Liberal sage, Lord Keynes—who wrote in 1942:

"Organized public works, at home and abroad, may be the right cure for a chronic tendency to a deficiency of effective demand. But they are not capable of sufficiently rapid organisation (and above all cannot be reversed or undone at a later date), to be the most serviceable instrument for the prevention of the trade cycle."

That is the problem with the proposals from the Liberal Democrats, and that is why we will not support them, despite the fact that there is much merit in the motion.

Embed this video

Copy and paste this code on your website