Pre-Budget Report

Part of the debate – in the House of Commons at 1:20 pm on 7th January 2010.

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Photo of Philip Hammond Philip Hammond Shadow Chief Secretary to the Treasury 1:20 pm, 7th January 2010

I will give way in a moment.

This is how the Institute for Fiscal Studies summed up the situation:

"Arguably, with the Conservatives well ahead in the opinion polls, financial markets may be more influenced now by whether the Opposition's policies are consistent with long-term fiscal sustainability than those of the government."

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