Government Plans To Reduce The Deficit

EDM number 896 in 2010-12, proposed by Robert Halfon on 26/10/2010.
Categorised under the topic of Public expenditure.

That this House notes that the UK has the largest structural budget deficit in Europe, at a level of 109 billion; further notes that the UK is paying, at a rate of 120 million a day, 43 billion a year in debt interest; believes that this money would far better serve the needs of the UK's citizens than those of the foreign creditors the UK borrows from; welcomes the support of the International Monetary Fund, the Organisation for Economic Co-operation and Development, the Governor of the Bank of England, and the Confederation of British Industry for the Chancellor of the Exchequer's plan to reduce the deficit; further welcomes the fact that the Office of Budget Responsibility has audited all of the annually managed expenditure savings in the Comprehensive Spending Review; is encouraged that, in response to the action of the Government the UK's market interest rates fell to near record lows, and the UK's credit rating was affirmed.

This motion has been signed by a total of 5 MPs.