The Economy

Part of the debate – in the House of Commons at 12:59 pm on 24th October 2019.

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Photo of Sajid Javid Sajid Javid The Chancellor of the Exchequer 12:59 pm, 24th October 2019

Sound public finances are the foundation of economic prosperity and strong public services, and we have come a long way since 2010. We inherited a deficit of 10% of GDP. At that time, that was the biggest Budget deficit of any advanced economy. It was equivalent to borrowing £5,000 every single second.