House of Lords written question – answered at on 25 April 2013.

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Photo of Lord Myners Lord Myners Labour

To ask Her Majesty's Government whether they continue to cite the research of Professors Reinhart and Rogoff in justifying fiscal policy.

To ask Her Majesty's Government whether the Chancellor of the Exchequer continues to believe that the work of Professors Reinhart and Rogoff offers "perhaps the most significant contribution to our understanding of the origins of the financial crisis".

Photo of Lord Deighton Lord Deighton The Commercial Secretary to the Treasury

The UK economy is recovering from the most damaging financial crisis in generations after a decade of growth built on unsustainable levels of debt. In 2010 the Government set out clear, credible and specific medium-term fiscal consolidation plans to return the public finances to a sustainable path. This has restored fiscal credibility, allowing activist monetary policy and the automatic stabilisers to support the economy, and is consistent with the approach recommended by international organisations and a broad range of research.

Does this answer the above question?

Yes8 people think so

No8 people think not

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