The Economy

Part of Opposition Day — [10th Allotted Day] – in the House of Commons at 1:59 pm on 18th November 2015.

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Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury 1:59 pm, 18th November 2015

I start by associating myself with the sentiments expressed by John McDonnell about the French atrocities and the importance of our security forces. I and other Treasury Ministers yesterday signed the book of condolence at the French embassy.

The economic policy of Her Majesty’s Opposition is now represented by a man who wants to overthrow capitalism, nationalise businesses without compensation, and who answers to Len McCluskey. He is a man who thinks that printing money, and triggering the inflation that hurts the poor and the elderly the most, is a good thing. He thinks that a budget surplus is “barmy”, and that we can balance the books by avoiding “any cuts whatsoever”. He is a high-tax, high-inflation, high-unemployment socialist who draws his economic inspiration from the Venezuelan economy and Syriza in Greece. The Government will not take economic lectures from him on how to run our policies, and we will do everything in our power to keep him in opposition.