Will the Minister explain that? If the Government wanted to repay National Savings & Investments—and transferring money out of National Savings & Investments is like repaying it—one kind of debt would be swapped for another. The amount of debt on the balance sheet would stay exactly the same. What is all this about having to cut public expenditure? I do not understand. One just borrows some money to replace one set of debt with another set of debt.
Dormant Bank and Building Society Accounts Bill [HL]
Proceeding contribution from
Baroness Noakes
(Conservative)
in the House of Lords on Tuesday, 11 December 2007.
It occurred during Debate on bills
and
Committee proceeding on Dormant Bank and Building Society Accounts Bill [HL].
Type
Proceeding contribution
Reference
697 c104-5GC
Session
2007-08
Chamber / Committee
House of Lords Grand Committee
Subjects
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Timestamp
2023-12-16 02:25:45 +0000
URI
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