Gregory Campbell – 2016 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Gregory Campbell on 2016-03-02.

To ask Mr Chancellor of the Exchequer, what progress he is making on his plans to begin to reduce public sector net debt as a share of gross domestic product in 2016-17.

Harriett Baldwin

The latest Office for Budget Responsibility forecast published in November 2015 shows that the government is on track to reduce public sector net debt as a share of GDP in 2016-17. The government remains committed to continuing the job of returning the public finances to a more sustainable position. In a low inflationary environment, taking account for economic shocks, the most reliable way to bring debt down as a share of GDP is to run a surplus and maintain it in normal times.