Crispin Blunt

Conservative Party | Reigate

Crispin blunt challenges prime minister on economy 2008 could be bleak year says Reigate mp

During Prime Minister’s questions Crispin Blunt MP challenged Gordon Brown’s handling of the economy as Chancellor from 1997 to June 2007. Mr Blunt drew a sharp contrast between the golden economic legacy which the Conservatives passed on to Mr Brown in 1997 and the parlous financial situation bequeathed to his own successor Alistair Darling.

Crispin Blunt: “When the right hon. Gentleman started as Chancellor, he was told by the Treasury, ‘These are fantastically good figures’. Now, there is a record trade deficit, record private and public debt and record insolvencies. We know he has never thanked his predecessor, but will he now say to his right hon. Friend, ‘Sorry, Darling’? ”

In his reply the Prime Minister declined to address the current economic situation merely recycling attacks on the previous government.

In today’s Surrey Mirror Crispin Blunt sets out in more detail his fears for the economy in 2008. Since 1997 private debt has gone from £519 billion to £1,400 billion and the trade deficit has plummeted from £840 million to a staggering £50,236 million and will be nearer £80,000 million in 2007. Meanwhile massive public debt is hidden in Private Finance Initiatives where scheduled repayments from future taxes now stand at £180 billion.

Speaking yesterday Crispin Blunt said:

“Government spending has soared from 35% to 44% of our nation’s income every year since Labour came to power – and Surrey has very little to show for it. As Chancellor Gordon Brown spent millions of pounds of taxpayers’ money and borrowed millions more. The foundations of our economy have been hollowed out under this government – I just hope the economy doesn’t collapse as a consequence. Only when there is a Conservative Chancellor will we start the necessary process of putting them back in the long-term interests of us all.”