Politics Index

PMQs: No Score Draw

November 19th, 2008 admin Posted in euro conservative |

This was a much quieter PMQs than last week - that much was inevitable. David Cameron started by asking about credit for small businesses and saying that the government needs to do more to get credit moving. He said the establishment of new institutions to underwrite lending was needed. He also asked if any more taxpayer funding for the banking system was being considered. Answer came there none. Brown said there needed to be a fiscal expansion and he would "take all the measures necessary".

Cameron then turned to the Pre Budget Report. Accused Brown of embarking on a borrowing binge. Brown says there will need to be a fiscal expansion to help small businesses. Cameron accused Brown of forgetting the difference between monetary and fiscal policy. He then accused Mandelson of admitting there would have to be long term tax rises. "We have made our choice," he said. Brown went on about how the rest of the world were following his example and that monetary policy was not enough. He accused Cameron of setting his face against that.

Cameron then quoted Derek Scott, Blair's former economic adviser. Scott had said it was 'drivel' that the crisis was not of the government's own making. Quoted Brown's own words back at him about unfunded tax cuts. Asked: "If he doesn't agree with his Trade Secretary or Derek Scott, does he agree with himself?"

Brown: "Do we want to help people through difficult times, or do we want to take the advice of the 1980s and 1990s and do absolutely nothing to help people in time of need?"

I missed Clegg's first question as my connection stalled. Clegg accused Brown of "strutting his stuff on the world stage". Said Bankers couldn't believe their luck. Got millions of taxpayers money, don't have to lend and can keep their bonuses.

All in all rather uneventful.