Balanced Budget Rule — [Graham Stringer in the Chair]

Part of the debate – in Westminster Hall at 4:17 pm on 23rd January 2019.

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Photo of Robert Jenrick Robert Jenrick The Exchequer Secretary 4:17 pm, 23rd January 2019

Of course there was a macroeconomic shock in 2008, but what I think the hon. Gentleman is asking is whether the then Government had prepared for that shock. Of course they had not: all the estimates and analysis suggest that public spending significantly overran growth in the years leading up to the macro- economic shock. That is exactly what this Government have set out to avoid.