My Lords, could the Minister confirm the number in the OBR report which accompanied the Spring Statement that public sector real investment will increase by 12% this year? Could he explain to what degree that 12% is repairing the damage done by the previous Administration and increasing productivity…
My noble friend is far more expert than me, and I agree entirely with all three points that he makes. I do not seek to add very much to what he says, but I agree most of all with his last point that returning to austerity would be the very worst thing we could do at this point for growth.
My Lords, it has been a great pleasure and privilege to serve on this committee, not just because I have served under the distinguished and stimulating chairmanship first of my noble friend Lord Forsyth and now of my noble friend Lady Noakes but because of the calibre of the committee. None of the c…
My Lords, I would also like to thank the noble Lord, Lord Elliott, for giving us a chance to discuss this important question, and it is always a pleasure to follow the noble Lord, Lord Eatwell.
Economic commentary has been dominated by the fiscal hole—said to be £30 billion—facing the Chancellor. T…