Energy and Environment, Food and Rural Affairs

Part of Debate on the Address – in the House of Commons at 12:08 pm on 27 May 2010.

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Photo of Rachel Reeves Rachel Reeves Labour, Leeds West 12:08, 27 May 2010

Will my right hon. Friend confirm that Greece's debt is 110% of its gross domestic product? That is twice as high a ratio of debt to GDP as that in the UK. That, and not the budget deficit, is the important point with regard to sustainability. The budget deficits of Greece and the UK are comparable, but in terms of sustainability, the issue is the level of debt. As the UK's debt is half the level of Greece's, those comparisons are scaremongering excuses for policies that the Conservatives always wanted to pursue.