Savings Accounts and Health in Pregnancy Grant Bill

Part of Parliament (Amendment) – in the House of Commons at 6:03 pm on 26th October 2010.

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Photo of David Hanson David Hanson Shadow Minister (Treasury) 6:03 pm, 26th October 2010

I will just say to the hon. Gentleman: record levels of the minimum wage, record support on Sure Start, record investment in education and tackling child poverty across the board. The Labour Government have a proud record of tackling inequality and trying those issues. [Interruption.] The Financial Secretary says, "Records of deficit". I recognise, as does my right hon. Friend the shadow Chancellor of the Exchequer, that we need to tackle the deficit, and that is where the choice is today. The choice for the Financial Secretary is to cut deeper- [Interruption.] If he stops chuntering for a moment from the Front Bench and listens, he will hear me say that choices have been made to cut the deficit much more slowly than the hon. Gentleman was doing, over a longer period. There are other issues that could be looked at. The Government's banking levy is worth a proposed £2.4 billion. If the Labour Government had been in office, it would have been £3.5 billion. There is £1.1 billion extra already from that funding. The hon. Gentleman knows there are differences of approach here, and this Labour Government would have taken a different approach to the deficit, and would have been able to save those resources in a much better way.