Topical Questions

Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 11th September 2018.

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Photo of Philip Hammond Philip Hammond The Chancellor of the Exchequer 12:00 am, 11th September 2018

In 2010, the Government inherited the largest Budget deficit since the second world war, at 9.9% of GDP. Our balanced approach to fiscal policy means that we have significantly reduced the deficit by over four fifths, to 1.9% of GDP last year. That has had benefits for all our constituencies, as the economy has continued to grow. My hon. Friend’s constituents will have seen that benefit: in the north-west, more than 268,000 more people are in employment over that period, and there are 93,000 more businesses.