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Charter for Budget Responsibility

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 1st March 2016.

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Photo of Greg Hands Greg Hands The Chief Secretary to the Treasury 12:00 am, 1st March 2016

All forecasts at the moment still show the UK performing extremely well, with strong rates of growth compared with other G7 countries. The Chancellor was right to say over the weekend that we may need to undertake further reductions in spending because this country can afford only what it can afford. He went on to say:

“I’m absolutely determined that first and foremost in this uncertain time we have economic security. That’s what people rely on.”

I am equally clear that it would be a fundamental disaster for this country if we pursued the policies that John McDonnell has been promoting in the six months that he has been shadow Chancellor.