Part of the debate – in the House of Lords at 3:46 pm on 3rd November 2008.

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Photo of Baroness Noakes Baroness Noakes Shadow Minister, Treasury 3:46 pm, 3rd November 2008

My Lords, we may have low debt but we do not have relatively low debt compared with other industrial countries. That is why we are less well prepared, which is what I said, compared with other countries.