Government Borrowing

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 16th January 2018.

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Photo of Philip Hammond Philip Hammond The Chancellor of the Exchequer 12:00 am, 16th January 2018

Yes, I absolutely agree with my hon. Friend that a policy of increasing borrowing simply means passing the cost of today’s consumption to future generations and wasting more taxpayers’ money on debt interest. Even Labour’s shadow Education spokesperson has acknowledged that this is a ultra high-risk strategy that would be a gamble with our economic future.