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Budget Statement - Motion to Take Note

Part of the debate – in the House of Lords at 7:30 pm on 18th March 2020.

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Photo of Baroness Kramer Baroness Kramer Liberal Democrat Lords Spokesperson (Treasury and Economy) 7:30 pm, 18th March 2020

I should have said this when I spoke, so I apologise. While we have very low interest rates, because of QE a heck of a lot of that debt is being held by the Bank of England, so in a sense it is almost circular. It is not quite as benign as it looks on the surface.