Proceeding contribution from Stewart Hosie (Scottish National Party) in the House of Commons on Thursday, 11 August 2011. It occurred during Ministerial statement on Global Economy.

Global Economy

The June 2010 Budget described the deficit reduction plan as adding £8 billion of tax rises a year from 2014-15 and £32 billion of cuts from 2014-15 every year on top of the £73 billion or so fiscal consolidation that Labour had in mind. It also forecast growth from this year of 2.3%, 2.8%, 2.9%, 2.7% and 2.7%. Those growth figures are now shredded. What will the Chancellor do? Will he increase taxes or cut public spending further, or did he mean by saying that we had to adjust our expectations accordingly that he would change his deficit reduction target?

Secondary information

Type: Proceeding contribution
Reference: 531 c1116
Session: 2010-12
Chamber / Committee: House of Commons chamber
Subjects: Banks Financial markets Economic and monetary union Government securities Public sector debt Shares USA Stock market World economy
Link: View this Proceeding contribution on www.publications.parliament.uk

Global Economy

Secondary information

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