We need your support to keep TheyWorkForYou running and make sure people across the UK can continue to hold their elected representatives to account.

Donate to our crowdfunder

Surplus Target and Corporation Tax

Part of the debate – in the House of Commons at 4:27 pm on 4th July 2016.

Alert me about debates like this

Photo of George Osborne George Osborne Chancellor of the Exchequer and First Secretary of State 4:27 pm, 4th July 2016

We gained office because we were faced with the complete economic mess created under the last Labour Government. We promised to turn that around, and we got a record number of people into work and have had the fastest growing economy for the past three years. When it comes to the deficit, the right hon. Gentleman was a Treasury Minister and he left me with an 11% budget deficit—the highest in the peacetime history of this country—but this year it is forecast to be below 3%, so I will compare our record with Labour’s record.