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 George Osborne George Osborne Chancellor of the Exchequer and First Secretary of State 12:45 pm, 4th June 2015

We made this announcement to the House of Commons, and the detail is there for people to examine. There will be estimates debates as usual, but there is a very simple question: does the Labour party support further savings in public expenditure? If it does not, that means the Labour party wants to increase borrowing, increase taxes and take this country back to square one and repeat all the mistakes it carried out in office—and, indeed, repeat all the political mistakes that meant it went down to a historic election defeat just a month ago.