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Amendment of the Law

Part of the debate – in the House of Commons at 2:27 pm on 24th March 2011.

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Photo of Jesse Norman Jesse Norman Conservative, Hereford and South Herefordshire 2:27 pm, 24th March 2011

On the question of evidence, is my right hon. Friend aware that institutions as wide ranging as the Institute for Fiscal Studies and the Bank of England have calculated independently that we would be borrowing between £7 billion and £10 billion more if interest rates had been allowed to stay at the same level, without the fiscal austerity programme that was introduced by the Chancellor?