Women and the Cost of Living

Part of the debate – in the House of Commons at 5:05 pm on 19th November 2013.

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Photo of Nicky Morgan Nicky Morgan The Economic Secretary to the Treasury 5:05 pm, 19th November 2013

That intervention shows the extent of the collective amnesia on the Opposition Benches. First, on the banking crisis the point is that the necessary reserves to deal with the unforeseen consequences were not set aside. Secondly, the last Government systematically over many years spent more than they were raising in taxes, so there were not the reserves to deal with this.