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Amendment of the Law

Part of the debate – in the House of Commons at 5:32 pm on 23rd March 2011.

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Photo of Rachel Reeves Rachel Reeves Shadow Minister (Work and Pensions) 5:32 pm, 23rd March 2011

I want to enlighten the hon. Gentleman with two facts. First, in 1996, just before the Labour Government came into power, there was a structural budget deficit of 4%, whereas it was 2.5% in 2007. Secondly, he compares the UK economy with that of Greece, but does he recognise the figures that show that although bond yields in Greece increased from 7% to 12% between January and May 2010, in the UK, before the Conservatives came to power, they were falling?