Part of Welfare Benefits Up-rating Bill – in the House of Lords at 3:10 pm on 11 February 2013.
Baroness Stowell of Beeston
Lords Spokesperson (Department for Work and Pensions), Lords Spokesperson (Women & Equalities), Baroness in Waiting (HM Household) (Whip)
3:10,
11 February 2013
My Lords, the Bill before us is about securing a stronger economy for the future. Noble Lords are well aware of the challenge we currently face. We are dealing with a deficit which is unprecedented in peacetime. Back in 2010, we were borrowing £1 in every £4 that we spent, and interest payments were costing us £85 million a day.
The Second Reading is the most important stage for a Bill. It is when the main purpose of a Bill is discussed and voted on. If the Bill passes it moves on to the Committee Stage. Further information can be obtained from factsheet L1 on the UK Parliament website.