Economy: Budget Statement - Motion to Take Note

Part of the debate – in the House of Lords at 7:37 pm on 13th November 2018.

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Photo of Lord Hain Lord Hain Labour 7:37 pm, 13th November 2018

I am sorry to intervene. I was agreeing with everything that the noble Baroness was saying until she embarked upon a disastrous defence of her party’s complicity in Tory austerity for five years. If she looks at the record until the banking crisis blew everything out of the water, she will find that borrowing was lower than we inherited from the Tories, the deficit was lower than we inherited from the Tories and debt was lower than we inherited from the Tories. Those three indices were much lower than the average of comparable countries.