I beg to move,

That the Charter for Budget Responsibility: autumn 2015 update which was laid before the House on 12 October, be approved.

Despite all the details of fiscal policy that we will discuss, and the mechanisms in the charter we are debating, the questions before the House and the country...

I beg to move,

That the Charter for Budget Responsibility: autumn 2015 update which was laid before the House on 12 October, be approved.

Despite all the details of fiscal policy that we will discuss, and the mechanisms in the charter we are debating, the questions before the House and the country...

I will give way to the former shadow Chancellor.

I will give way to the former shadow Chancellor.

I am clear that we should not turn our face against a surplus, but it is important that the Chancellor’s definition of “normal times” safeguards some of our vital public services and ensures that we protect the most vulnerable in our society. Is there a danger in automatically going for...

I am clear that we should not turn our face against a surplus, but it is important that the Chancellor’s definition of “normal times” safeguards some of our vital public services and ensures that we protect the most vulnerable in our society. Is there a danger in automatically going for...

I was about to pick up on the point that the hon. Member for Bolsover (Mr Skinner) just made, which is that the hon. Gentleman has shifted his position in the last few days. The former shadow Chancellor was telling us that the position adopted by the Labour party on...

I was about to pick up on the point that the hon. Member for Bolsover (Mr Skinner) just made, which is that the hon. Gentleman has shifted his position in the last few days. The former shadow Chancellor was telling us that the position adopted by the Labour party on...

When the Labour Members of the Treasury Committee rightly identified this proposal as a gimmick in the Treasury Committee hearings in July, did the Governor of the Bank of England, or any of the other eminent economic brains we questioned, give a single word of defence for this political gimmick?

When the Labour Members of the Treasury Committee rightly identified this proposal as a gimmick in the Treasury Committee hearings in July, did the Governor of the Bank of England, or any of the other eminent economic brains we questioned, give a single word of defence for this political gimmick?

It is not a political gimmick to have sound public finances. What is a political gimmick is coming out on the eve of your conference with some policy that says you support what we are doing, and then two weeks later turning up in the House of Commons and voting...

It is not a political gimmick to have sound public finances. What is a political gimmick is coming out on the eve of your conference with some policy that says you support what we are doing, and then two weeks later turning up in the House of Commons and voting...

That was two days ago. Two days is a long time in politics.

That was two days ago. Two days is a long time in politics.

The hon. Member for Bolsover has got back his party and we’re pleased for him.

The hon. Member for Bolsover has got back his party and we’re pleased for him.

Let me make a little progress, because we only have a 90-minute debate.

The truth is that the people who oppose this charter never want a surplus. They want to run a deficit forever. They never want Britain to be earning more than it spends. [Interruption.] They say “Nonsense.” Will they...

Let me make a little progress, because we only have a 90-minute debate.

The truth is that the people who oppose this charter never want a surplus. They want to run a deficit forever. They never want Britain to be earning more than it spends. [Interruption.] They say “Nonsense.” Will they...

The Chancellor is completely wrong. The objection to the game he is playing and the trap he thinks he has so cleverly set is that he has completely failed to hit all of the promises and all of the targets that he has established. Instead of indulging in this ridiculous...

The Chancellor is completely wrong. The objection to the game he is playing and the trap he thinks he has so cleverly set is that he has completely failed to hit all of the promises and all of the targets that he has established. Instead of indulging in this ridiculous...

That is precisely what we are doing. We are precisely preparing Britain to weather the storms. We came in five years ago. We promised to turn this economy around. We promised to take Britain back from the brink of disaster. And do you know what? We have a record number...

That is precisely what we are doing. We are precisely preparing Britain to weather the storms. We came in five years ago. We promised to turn this economy around. We promised to take Britain back from the brink of disaster. And do you know what? We have a record number...

According to today’s figures, unemployment among 18 to 24-year-olds in my constituency is down 72% since the Chancellor walked into No. 11. That is what budget responsibility looks like. Will he promise to stay in the centre, moderate ground of British politics and keep fixing the roof while the sun...

According to today’s figures, unemployment among 18 to 24-year-olds in my constituency is down 72% since the Chancellor walked into No. 11. That is what budget responsibility looks like. Will he promise to stay in the centre, moderate ground of British politics and keep fixing the roof while the sun...

I absolutely give my hon. Friend that commitment, because we have a responsibility to represent the working people of this country, who have been completely abandoned by the Labour party. That makes us the true party of labour here in this House of Commons.

I absolutely give my hon. Friend that commitment, because we have a responsibility to represent the working people of this country, who have been completely abandoned by the Labour party. That makes us the true party of labour here in this House of Commons.

rose—

rose—

I will give way to the hon. Gentleman in a moment.

Of course, the problem with people who say that now is a good time to borrow is that they always say it is a good time to borrow: in bad times they say we should borrow because we cannot afford...

I will give way to the hon. Gentleman in a moment.

Of course, the problem with people who say that now is a good time to borrow is that they always say it is a good time to borrow: in bad times they say we should borrow because we cannot afford...

This might be clever politics, but it is staggeringly bad economics. The Chancellor is incredibly irresponsible to imply that borrowing is always bad. If we borrow to invest, we increase jobs, stabilise the economy and increase tax revenues. That is good for the economy, not bad for it.

This might be clever politics, but it is staggeringly bad economics. The Chancellor is incredibly irresponsible to imply that borrowing is always bad. If we borrow to invest, we increase jobs, stabilise the economy and increase tax revenues. That is good for the economy, not bad for it.

That is borrowing forever. There is never—[Interruption.] When would the hon. Lady stop borrowing and run a surplus? I am happy to give way to her as the representative from the Green party. When is the moment to stop borrowing and run a surplus?

That is borrowing forever. There is never—[Interruption.] When would the hon. Lady stop borrowing and run a surplus? I am happy to give way to her as the representative from the Green party. When is the moment to stop borrowing and run a surplus?

The moment to stop borrowing is when we can no longer afford to pay it back—[Laughter.] We can perfectly afford to pay back our investment, which is why economists are laughing at the Chancellor—[Interruption.]

The moment to stop borrowing is when we can no longer afford to pay it back—[Laughter.] We can perfectly afford to pay back our investment, which is why economists are laughing at the Chancellor—[Interruption.]