The Economy and Work

Part of Debate on the Address – in the House of Commons at 1:23 pm on 26th May 2016.

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Photo of George Osborne George Osborne Chancellor of the Exchequer and First Secretary of State 1:23 pm, 26th May 2016

We have put more money into social care, and we have allowed the precept to be applied by councils, many of which have taken up that option. As a result, more money will go into social care in the coming years. That is what we have done, but we could not do any of those things such as support social care or universities without a sound economic policy. I listened in complete incredulity to yet another speech from yet another shadow Chancellor promising yet more billions of pounds of spending, borrowing, and extra taxes. It is as if the scorching experience of the financial crash eight years ago, and the crippling deficit with which Labour saddled this country, never happened.

When John McDonnell mentioned the record of the Labour Government he kept saying, “Up until 2008”, as if he had forgotten that the biggest crash in modern history was while the Labour party was in office. It is a bit like saying to Mrs Lincoln, “Apart from the assassination, did you enjoy the play?”