The Economy

Part of Business of the House – in the House of Commons at 12:45 pm on 4th June 2015.

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Photo of Clive Efford Clive Efford Shadow Minister (Culture, Media and Sport) 12:45 pm, 4th June 2015

One of the myths that the Conservatives have been very successful with—I credit them for it—is the suggestion that debt soared under the last Labour Government from 1997 onwards. However, according to the House of Commons Library, debt in 1997 was higher than it was in 2007-08, just before the banking crisis hit. Yes or no?