Budget Resolutions and Economic Situation

It was good to see the Chancellor pop into the Chamber a few moments ago, although I wish he had been here a few moments before that to hear the hon. Member for Spelthorne (Kwasi Kwarteng) accuse him of “absolute madness” for saying in opposition that he would back Labour’s spending plans, right up to the world financial crisis in 2008. That was the case, however, and the truth is that it was not Labour’s spending, which repaired the damage of the Thatcher years, that caused sub-prime lending, the collapse of Lehman brothers or the world financial crisis.