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Part of Opposition Day — [17th( )Allotted Day] — Horsemeat – in the House of Commons at 4:42 pm on 12th February 2013.

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Photo of Greg Clark Greg Clark The Financial Secretary to the Treasury 4:42 pm, 12th February 2013

The hon. Lady seems to be unaware of the fact that under the last Labour Government the national debt almost trebled. That is the legacy that they left and with which this Government are dealing. Over 13 years, they borrowed so much they left us with a deficit that was as big as that of Greece, and bigger than that of Spain, Portugal or Italy.

We would think that there would be something to show for all that money spent. We would think our roads, railways and power stations would be at least as good as those of Spain, Portugal and Italy. That, at least, would be a consolation prize: modern, up-to-date national infrastructure available to support British business and help us to generate the billions of pounds we need to pay off the deficit and reduce our debts.